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

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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][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]

Where are you going to get an acre of land for $1 million? In Chevy Chase, that’s 6-7 lots. It’s about the same in E Bethesda or Woodside. It’s a little less in Edgemoor. Land alone would be worth well over $1 million. You’d probably end up spending at least $2 million on land alone even around Woodside, and would be more like $6-$10 million around Bethesda or Chevy Chase.  In your sales plan, you’re under water before you’ve even built the structure. That could maybe work around Wheaton, but there are lower risk ways of making $1.4 to $2 million in profit, like building 4 SFH on your acre of land. [/quote]

Dumb a$$. It was a scenario.  Start with whatever base amount you’d like. More homes on the same space makes more money. [/quote]

If you're going to try to use scenarios to illustrate the value of Thrive, you need to work with numbers from the real world. Both you and Thrive treat Montgomery County as a made-up place instead of a place in the real world.

It matters because you can't charge whatever you want for a unit in a MF dwelling so SFH or some other use might be the most profitable use for a piece of land in the real world instead of a fantasy place you made up.[/quote]

"You need to work with numbers from the real world!"

says the poster who is making up numbers.[/quote]

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