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Real Estate
Reply to "Please stop building these cheap, ugly “craftsman” "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It’s just the way the market works. [/quote] Agree. It's not my taste but[b] these things are mostly determined by the market. [/b]The builder wants to sell the house for as much as possible. There's probably some overlap between new home designs and the colors of new cars.[/quote] "The market" often does things that individuals hate. For example, in my Bethesda neighborhood, we are in dire need of 3000-40000 sq ft houses. What do we have instead? Either tear-downs or new builds that are 8000 sq ft. I am the owner of a (renovated) tear-down. I want a 3000 sq ft home built with premium materials, that's solar passive and well-insulated. A quality build, not a cheap McMansion built out to the property limits with builder grade materials hastily slapped together. But [b]the only way I can get that, apparently, is by buying land, razing whatever was on it, even if it's new construction or a pristine reno, and building my own house. That's quite expensive.[/b] So year after year, I stay in my small house, grumpily [b]looking at the ridiculously large homes with shoddy layouts and tons of wasted space that "the market", ie, builders, create to turn a massive profit.[/b] I bet all the people buying them wanted something a little smaller to begin with. [/quote] Yes, it's expensive. That is why you aren't seeing it. The developers need to maximize profit. They do that by building and selling 8k sq ft homes with builder grade materials. Could they build a a beautiful, well constructed home of 4k sq feet with nicer finishes? Sure. Would they make as much? As you appear to admit -- no. The builders aren't going to build what people want, they are going to build what they can sell at the highest profit. When you have low inventory in desirable areas where people have a lot of money ... it makes sense to do exactly what they are doing. Late stage capitalism in an area where real estate is in demand. [/quote] As you imply, it's all based on the appraisal-LTV-bank game. Appraising is truly the most circle-jerking occupation ever to tarnish the face of the earth, and is the major driver as to why you can't finance an extraordinarily well built 4k sf house, but you CAN finance a shoddily built 8k sf house for the same money.[/quote]
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