The house I was born in sold for $4000
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Re: The house I was born in sold for $4000
#2More startup needs to move to low cost areas.
Re: The house I was born in sold for $4000
#3More startup needs to move to low cost areas.
I agree. The other option is to lower the costs of areas where startups operate by increasing construction.
Re: The house I was born in sold for $4000
#4More startup needs to move to low cost areas.
Especially with remote jobs becoming more popular.
Re: The house I was born in sold for $4000
#5WTF?
If an house can be built for $12000, why are flats selling for $100k+ routinely?!?!?
If it's just due to land value, then why not build ultra-tall skyscrapers to amortize it?
Re: The house I was born in sold for $4000
#6WTF? If an house can be built for $12000, why are flats selling for $100k+ routinely?!?!? If it's just due to land value, then why not build ultra-tall skyscrapers to amortize it?
I don't think a house can be built for $12k. Houses in the rust belt routinely sell below replacement cost because demand is so low.
Re: The house I was born in sold for $4000
#7WTF? If an house can be built for $12000, why are flats selling for $100k+ routinely?!?!? If it's just due to land value, then why not build ultra-tall skyscrapers to amortize it?
Because you'd need lots of upfront capital, you're gambling that the land will still be valuable 2 years later when you've finished and there's probably a local regulation against buildings above a certain height.
Re: The house I was born in sold for $4000
#8WTF? If an house can be built for $12000, why are flats selling for $100k+ routinely?!?!? If it's just due to land value, then why not build ultra-tall skyscrapers to amortize it?
Inflation, my friend: $12,000 in 1970 == $71,917 in 2013.
And adding more floors to buildings suffers from diminishing returns pretty fast.
Re: The house I was born in sold for $4000
#9WTF? If an house can be built for $12000, why are flats selling for $100k+ routinely?!?!? If it's just due to land value, then why not build ultra-tall skyscrapers to amortize it?
What makes you think a house can be built for $12,000? That's not what the post said at all. It said the house was sold for $12,000 in the 1970s. Depending on exactly when it was sold, that could be the equivalent of almost $70k today.
Re: The house I was born in sold for $4000
#10WTF? If an house can be built for $12000, why are flats selling for $100k+ routinely?!?!? If it's just due to land value, then why not build ultra-tall skyscrapers to amortize it?
If finishing a small school in Africa (materials only, labor is being volunteered) is estimated at around 25,000$, I can agree about your wonder.
(Sorry for the plug, but it's for a noble cause I think)
http://www.indiegogo.com/projects/ewb-lets-build-a-school-in...