Saw a new 20-story development is going up nearby and checked out prices. Mao should have killed more landlords.

  • star_wraith [he/him]@hexbear.net
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    1 year ago

    I think the thing that bugs me the most about real estate developers - and I know several personally - is that they are incapable of seeing the wonders of nature all around us and NOT thinking “hmm, I could profit from this if I buy the land, rip up all the trees, and sell it off in parcels”.

    • UlyssesT [he/him]@hexbear.net
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      1 year ago

      “hmm, I could profit from this if I buy the land, rip up all the trees, and sell it off in parcels”.

      Same goes for death-drive boomers that see pollinators and native plants and birds and bees and think “NO. THIS IS NOT GREEN FUZZY RECTANGLES ONE INCH HIGH. I WILL CALL THE CITY AND HAVE THESE WOKES FINED.” grill-broke

    • Milksteaks [he/him]@midwest.social
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      1 year ago

      We need a real left candidate in the US whose platform includes imprisoning/executing landlords who exploit the basic human need of shelter for profit. Also corporate death penalty to corporations who do the same because they’re people too

  • hexaflexagonbear [he/him]@hexbear.net
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    1 year ago

    I love that random turns in the walls from trying to maximize the number of units on the floor have become “dens” that add $50-100k to the purchase price.

      • edge [he/him]@hexbear.net
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        1 year ago

        You see, when people move into these luxury condos, they’re moving out of slightly less luxury condos, which means the prices of those old condos will obviously fall, causing people in somewhat less luxury condos to move into the slightly less luxury condos, and a game of musical chairs ensues causing a drop in prices to trickle down.

    • barrbaric [he/him]@hexbear.netOP
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      1 year ago

      No idea, unfortunately. Market rate is generally around $1800/mo, I’d imagine this would have been less (maybe $1200-$1500?) because it was kinda old (I want to say late 70s/early 80s).

              • regul [any]@hexbear.net
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                1 year ago

                Eh. The people who are going to live in these units would still be living in your city, they’d just be living in a different building. I’d prefer we were replacing single-family homes with 20-story apartment buildings instead of replacing naturally affordable stuff (affordable usually just because it’s old and shitty), but if you’re getting more than 4x the units I’d probably take that trade.

                I know most people on Hexbear disagree with me about that, though.

            • jonne@infosec.pub
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              1 year ago

              Housing or investment? If nobody can afford to buy or rent there, they either end up being bought by overseas buyers as a money laundering effort, or they’re turned into short term rentals.

              • regul [any]@hexbear.net
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                1 year ago

                Condos are not a great investment. High carrying cost and slow appreciation. Especially in new buildings. They used to get bought by Chinese buyers looking to park money overseas because domestic options were not great, but the party cracked down on that. Foreign buyers were always kind of an overstated boogeyman.

                And short term rentals are a solved problem. NY just basically made them illegal. Since you can make those rule changes retroactively it’s better to have the housing built already than the alternative.

    • drhead [he/him]@hexbear.net
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      1 year ago

      Those are condos, so it’d be for buying it (though I’m sure in a development there would be HOA fees for building upkeep so you wouldn’t be completely off the hook). Ridiculous prices too, I could buy multiple houses near me for what they’re asking for a studio.

    • barrbaric [he/him]@hexbear.netOP
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      1 year ago

      No it’s to buy. If there’s some confusion over comma placement wrt decimals, this is America so ex the first one is six hundred eight thousand and eight hundred dollars.

  • edge [he/him]@hexbear.net
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    1 year ago

    It annoys me that studio isn’t listed first. What possible reason would make them list it between two and three bed?

    • barrbaric [he/him]@hexbear.netOP
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      1 year ago

      My theory is that they want to trick people into just buying a 1BR because they can’t be bothered to look down the rest of the page (something people definitely do when buying something for $600k).

  • hexaflexagonbear [he/him]@hexbear.net
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    1 year ago

    Also in my area since the interest rate hikes new construction condos have been significantly above the market rate. Because the developers simply do not have to sell, lmao. Probably have hundreds of people contractually obligated to buy at the price they agreed to using the interest rates from 18 months ago. Hate this shit so much.