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Business, Economics, and Taxes 2: That's Why We Fight to Take the Means Back

ticapnews said:
Those "starter" homes are complete garbage. Made with subpar materials by subpar builders on unsafe land. There are news pieces that show people's homes literally falling apart because they were built in a giant sinkhole.
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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.
 
Kepler said:
Why not build more starter homes / homes on the left tail of the market?

Capital is supposed to always find a ready market.
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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?
 
FadeToBlack&Gold said:
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.
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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....
 
FadeToBlack&Gold said:
Housing shortage or income shortage? 10 years ago you could get a decent sized house in the Keweenaw in need of some TLC for about 80k. But there were a fair number of those on the market.
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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...
 
aparch said:
Oh my TikTok is littered with home inspectors finding more wrong in new construction than even the speediest flipped home.
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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. :rolleyes:
 
rufus said:
Also, NIMBY, as the current residents don't want "those people" and those sorts of housing in their neighborhoods.
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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.
 
FadeToBlack&Gold said:
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.
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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.
 
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.
 
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