If houses are overinflated due to speculating boomers, why can't you just ... build a new house?It'll cost you way less than the price of other overinflated houses and you can sell it for a profit any time.Or maybe... Houses are priced correctly?
>>62755927its the land thats overvalued
>>62755927Correct. Home prices in the US generally reflect what a contractor would charge to build one.So unless you're a general contractor, it's not going to be cheaper to build.
>>62755927The problem is a lot of people want houses in an area with little available bare residential land, let alone desirable land in a good area near employment, etc. Building materials have also inflated and in some areas it takes months or years to get a permit approval which costs tens of thousands more because of all the back and forth. Existing housing is expensive basically because of the land it's on and where that land is.It's like McDonald's, they're not a restaurant as much as they are a real estate company. Same with the Mormon church, they're a real estate company.
>>62755927Capital intensive
>>62755927Isn't there a bunch of zoning laws in the US, Anyway people who own real estate aren't going to vote for a party that just goes and builds millions of houses - because it will bring down house prices. That's why I've never understood people complaining about house prices saying >just build more houses The people who already own real estate obviously don't want that to happen, so it won't. The only reason they're printing billions in FIAT is because they can hand the money to themselves and don't hold much FIAT to being with.
>>62755927Property taxes are tied to its value, why would the government let their income and method of taking property that they can sell to blackrock who get money printed from thin air from the government, rent screening makes sure your a good goy with a good goy scores, obediant slave renters is the goal
>>62755967Not really the whole truthThey want you to work to pay your own rent, and work to pay rent for people who can't or won't work as well. A homeless drug addict is an opportunity to make money. Not because they'll work to pay rent but because taxpayers will pay to house them
>>62755958It's not as capital intensive to build large flat blocks for all the libs wanting to move to NYC or LA. For some reason they only build luxury targeted apartments now. Instead there's a mass exodus of those types to other states in the US driving up prices of homes.
>>62755975Yea, I don't know the exact stats but a homeless person in San Francisco can be worth hundreds of thousands of dollars.
