help me understand...

[lurker1]

Affordable housing is in great need here. There was good news in the paper this morning about 400 acres and 1800 affordable houses to be built.

I expect all of you experts to put together a group to build some of these houses using all of your previously stated good ideas.

 

[destinsm]

Affordable housing is in great need here. There was good news in the paper this morning about 400 acres and 1800 affordable houses to be built.

I expect all of you experts to put together a group to build some of these houses using all of your previously stated good ideas.

The more government gets involved the more unaffordable housing will get for the middle class... Markets will take care of affordibility if people just let supply and demand run its course...

 

[lurker1]

The more government gets involved the more unaffordable housing will get for the middle class... Markets will take care of affordibility if people just let supply and demand run its course...

You're right. It's working great so far...

 

[bdc63]

I hope that someone can help me understand why we continue to see entry level homes being built with granite counter-tops and nice solid hardwood flooring. Am I just stupid, or does that not add up to common sense? It is all people can do to afford an entry level home in many cases, so why the hell would they expect to get granite counter tops and nice flooring, and have to pay for it over thirty years? Call me crazy, but that, IMO, is just plain crazy.

Just curious ... if you had a seller that wanted to highlight in their listing the brand new Formica counters and linoleum flooring, what would you tell them?

 

[GoodWitch58]

There would be no need to "highlight extras" if the sale price was affordable to entry level professionals/workers/singles, etc.

 

[Smiling JOe]

Just curious ... if you had a seller that wanted to highlight in their listing the brand new Formica counters and linoleum flooring, what would you tell them?

I would tell them to highlight the price.

 

[groveral]

I can help...because people buy them.

For reference as to why: see baby BMW's/Baby Audi's, etc.

 

[Smiling JOe]

I can help...because people buy them.

For reference as to why: see baby BMW's/Baby Audi's, etc.

Well, here, they have no little choice, because that is the only option. It is either, buy a house, or not.

Do you seriously think that the guy who works on your a/c or the guy who builds your seawalls really desires granite countertops and heart pine, flooring, et al. ? Sure, there are many people who may want the upgrades, but that is not entry level, people who can barely scrape together the cash for a $200,000 home, and would be stretching it at $250K.

 

[bdc63]

I would tell them to highlight the price.

... and that would be a good answer. Today. In this market.

But I suspect a year ago many a Realtor would have suggested that if the seller were to upgrade to granite and hardwood, they could ask another $100K+. Or, even more likely, the agent would have bought the Formica and linoleum ladden property themselves, installed granite and hardwood and flipped it a month later for $100K+ profit. Oh what a difference a year makes.

Having said that, I do believe there will be a plethera of sub-$250K properties on the market in the next year or so as pricing continues to correct back down toward 2002/03 levels ... Some of them might even come with granite countertops.

 

[Smiling JOe]

... and that would be a good answer. Today. In this market.

But I suspect a year ago many a Realtor would have suggested that if the seller were to upgrade to granite and hardwood, they could ask another $100K+. Or, even more likely, the agent would have bought the Formica and linoleum ladden property themselves, installed granite and hardwood and flipped it a month later for $100K+ profit. Oh what a difference a year makes.

Having said that, I do believe there will be a plethera of sub-$250K properties on the market in the next year or so as pricing continues to correct back down toward 2002/03 levels ... Some of them might even come with granite countertops.

I don't know about that. Last Sept, the market had put on breaks quite a bit. Go back two years, and you might have seen the upgrades to granite, et al, but the prices for those homes were $150K -$175K, much more entry level prices and affordable to many more people. Today, those same homes are starting at $275K -- not quite the same ballgame.;-)

...and if the market goes back to 2002/03 prices, those homes would be listing around $120K, because you could buy two lots for $10K total. Ain't gonna happen -- I gare-on-t-it.