3 ms·
> Supply is not magic. It can't reduce the cost of something below the cost of material and labor. I'll agree it's not magic, but supply can drop the cost of s
by bombcar 5mo ago
> Supply is not magic. It can't reduce the cost of something below the cost of material and labor.
I'll agree it's not magic, but supply can drop the cost of something below the cost of materials and labor, if you equivocate a bit.
If new houses are going for $250k in your area, old, used, smaller houses should be going for less.
- Paradigm2020 5mo agoExcept for the fact that in high desired locations the property cost is 2/3 to 4/5 land and the rest the building on the top. In the case of a really old crappy building it might be 6/7 is land and 1/7 the building but in those high demand places from your 250k, 140-180k would be going just to the land leaving you with a paltry amount for the actual structure. What we need is LVT or better public transport to either give money back to the people who create the value (average citizens) or to create an increase in desirable places to live (as in can get in <30min to work, do shopping etc etc) or more remote jobs for more people so they can move to lcol areas Unfortunately the nimby's on average are most home owners (60%) and close to be home owners... ~ "temporarily embarrassed millionaires" ~ "everyone starts of libertarians and ends up conservative" aka first you fight for more housing then when you have it you become like the average homeowner...