Reply to Marc Elrich doesn’t think there “is demand for market housing.” He’s never going to fix our housing.

Forum Index » Metropolitan DC Local Politics

Reply to "Marc Elrich doesn’t think there “is demand for market housing.” He’s never going to fix our housing."

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Take 1 acre of land. Buy it for $1M. Build one house on it and sell it for $1.5-2M or build 8 condos and sell each for $300K-$400k.

In the first scenario I make $500k to $1M in profit. In the second I make $1.4M to $2.2M. I’ll take the second please and also have 8 times as many people living in the county, performing MC and LC jobs and paying sales tax and real estate tax in my county. It is not about affordable housing, it is about smart business and free markets and not letting rich NIMBYs have their way in hoarding land for large estates and preserved green space. [/quote]

Do you understand that those cheap condos will lower the desirability and value of the neighborhood. Soon it will be a hodge pudge of housing of varying quality.  Soon no more $1.5-2 M houses will be built because builders can make more money selling multi family units. Land values will fall and then $200K-$300K condos can be built.

Realtors did block busting in the 1960s and now local governments want to do it.  The first to third sellers get a good price but the prices then fall with each sale as the neighborhood becomes less desirable.

I am all for because I work for a builder.  But it will definitely change areas. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics