ticapnews
Never graduate.
Plus we already have plenty of homes. People don't have the money to buy them so they sit empty.
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Business, Economics, and Taxes 2: That's Why We Fight to Take the Means Back
- Thread starter Kepler
- Start date
FadeToBlack&Gold
Proud Statist
Not just starter homes. Look closely at a new Pulte or DR Horton build if you ever get the chance. $800k gets you a bunch of sloppy caulking and hell knows whatever other corners cut.
aparch
Acetaminamerican
Pfffffft. Why sell a 2br/2ba for 200k when you can sell a 4br/3ba for 600k?
Especially when labor, material, and permits are north of 150k?
aparch
Acetaminamerican
Oh my TikTok is littered with home inspectors finding more wrong in new construction than even the speediest flipped home.
ticapnews
Never graduate.
Yes! DR Horton. That's the one I saw on the news. Unreal. A guy visited the house being built for him and found a boatload of problems. But they'd all be covered over when he moved in, so the builder didn't care. Well...didn't care until the house ended up on the evening news....
RaceBoarder
Waiting for the Snow to fly...
You can find homes in that price range if you want to go an hour or more away from MQT. But since MQT is the "city", everyone wants to live right there.
It's kind of a microcosm on all the general gripes: AirBnB removing homes from the market, new builds being branded as "luxury" and commanding that price, Boomers asking for the moon when they sell, and so on. Overall, there just are more people than there are places available. I feel for the students, as I know of many a property that was once a duplex/triplex for students that is now an AirBnB 20 years later. And back in the 70s and before, it was a true single-family home.
Right now, prices really aren't all that different from what I'm looking at overall on the outer third of the Chicago area. Which is quite shocking since it's in a town of under 30k...
FadeToBlack&Gold
Proud Statist
My wife has friends with a special needs daughter, and they're both engineers, so they were fortunate to have the means to be able to move to the top special ed school district in the entire state. They bought a yuuuge Pulte McMansion and I remember the first thing I noticed walking up to the front porch were the massive globs of caulk around the door trim. They paid almost a million dollars for that and who the fuck knows what else was rushed or half-assed.
MichVandal
Well-known member
I know. I’ve seen them a few times in state park campgrounds (who are the least expensive campgrounds in MI) in metro Detroit
rufus
rock and roller
Also, NIMBY, as the current residents don't want "those people" and those sorts of housing in their neighborhoods.
FadeToBlack&Gold
Proud Statist
NIMBY has nothing to do with it if the profit margin is there. Apartment complexes and ugly mixed-use properties get approved locally all the time because they benefit the management company/landlord, even when local homeowners scream NIMBY and organize protests against it because of their fear of "those people". That just happened in my town a couple years ago and it brought the Boomers out in force. Didn't matter, it got approved anyway and is currently under construction.
MichVandal
Well-known member
That defines Ann Arbor. Lots of talk about making life more affordable to allow a lot of very high end apartments. Let alone not making it better for people who already live here.
RaceBoarder
Waiting for the Snow to fly...
Exactly how things have played out in the expansion of the Chicago area as well...
"Cheap" apartments are all the older buildings built 40 or more years ago and they haven't been updated in 20+ years. Any newer builds are all branded as "luxury" and are only open to households making $90k/year or more.
"Cheap" apartments are all the older buildings built 40 or more years ago and they haven't been updated in 20+ years. Any newer builds are all branded as "luxury" and are only open to households making $90k/year or more.
Kepler
Si certus es dubita
Probably what starter homes always were, TBH.
MichVandal
Well-known member
Even 100 years ago.
FadeToBlack&Gold
Proud Statist
When you can get $2000+/mo in rent as long as you have tenant occupancy, why build new affordable SFH stock at all? Not good for the business model that developers and management companies have created. Even in inner ring suburbs like mine where the lots average 1/10 acre, it's easy to argue that SFHs are a waste of valuable development land unless you can sell them for $500k+ each. This way, developers and their industry friends make maximum profit whether they're ultimately renting to tenants or selling to borrowers.
That's what the Boomers with their "Save Single Family Homes!" and "Dump 2028" signs don't get.
WisconsinWildcard
The plural of anecdote is not data
I dunno if all. I live in what I would consider a 1950s starter home. 1 car garage, ~1300 sq foot and generally well built. Before the pandemic houses in my neighborhood went from 200-300k range. Now, they are going for 600k plus. Truly insane.
MissThundercat
Are the cis okay?
The same immigrant who's too lazy to work but taking all the jobs?
Schrödinger's immigrant.
That immigrant?
state of hockey
He fixes the cable?
The New World Screwworm is here to tell you beef prices can in fact be even worse.