Some might argue that you should be opposed to it. All that short-term housing going up around you is making your neighborhood more dangerous and lowering your property value compared to other homes the same size not surrounded by cheap housing.
If only there were laws in place that limited business tax write-offs on multiple family-style properties.....
The condos are bumping $325K and they’re older (40 years) but very well maintained.
So just moving to Cleveland to find a house is the answer instead of dealing with it in all cities?
So if every member of a family lives in one general area where you grew up that’s become unaffordable for young adults they need to leave their family behind and move to Cleveland -AKA the mistake by the lake?
Removing yourself from your network, family, job, whatever to move to Cleveland and start over? Moving is expensive.
I have lived in KC since 1996 and the market here is INSANE. We bought a mid-century modern home in a popular, older neighborhood back in late 2015 right before our daughter was born. Three bedrooms, two bathrooms, a little over 1,500 square feet. We have a corner lot so it is one of the larger lots in the neighborhood. Bought it for $275k and could sell it tomorrow for $500k. The problem is, we would have to buy something else. No thanks.
Ole girl looks like she is eating well. She has a ton (pun intended) of listings at that price point.
This happens all the time in small towns, in reverse. Grow up in a small town and would like to stay where your family lives but don't really have a choice because there just aren't many jobs or opportunity to make a living so you are forced to move somewhere were there are jobs.
Ok, I clicked on the street view and have to admit that it is insane. That house sticks out like a sore thumb.
It is happening all over town in similar neighborhoods with similar surroundings on both sides of the state line. It's unreal.
Why? Are there just no new developments in the KC metro area? KC isn't that different than DSM, Omaha, or the Twin Cities (meaning it's not a city like Chicago or New York). There is land to expand around the KC metro area. Up in MSP there are housing developments all over the place.
I have no idea, man, but it has to be about wherever they can make the most money. Those $1 - $1.4 million homes are going up in place of 60-70 year old small bungalows and ranches in neighborhoods with the highest demand. I work in the southern part of the metro right off I-35. I see zero new housing developments within sight of the highway. 20 years ago, it was a totally different story. I get to the far west side of the metro pretty regularly also, same deal if you head that direction.
Appears building is another topic that escapes you. You seriously think the costs are the same for a 2200 sq ft house and a 900 sq ft house? Small stand alone houses have the similar infrastructure cost as a larger home, i.e. the new street, storm and sanitary sewer, the water, fiber, etc but it ends there. That's why you don't see a 900 sq. ft. house on a quarter acre lot, lol...
Agree! It takes GALLONS of water to produce ONE ALMOND.
We’re not talking about California is the problem. As @jasonrann just showed look at KC, which has always been a very affordable Midwest city. No housing isn’t a right but it’s certainly a need. Stinks when these flippers are buying houses out from young people trying to get a house and then bumping the price another 300K or just knocking down and putting up homes for over a million.
There’s a reason housing is so cheap in Detroit or Cleveland. People are moving from there not to there. Not that hard.
They're not lucrative. That's what I'm telling you. You said it costs the same for a 450K as a 200K. Developers likely have 60K in a small lot in a new development. You think a home can be built for 140K and still leave a profit for a builder? Go get a blueprint made for this fictious 200K home and start running it around to local builders, then come back here and print their comments and their bids to build that 200K house. I'll wait...
Of course there are a ton of housing developments. But still nowhere near enough of it affordable for young buyers, which is also why they continue to put up apartments like crazy.
Almond trees grow in other places not so challenged by irrigation issues.
Met with a builder yesterday. 60K is minimum for a decent lot. He said closer to 80 for a good lot in a new subdivision.
The have mobilization costs. Yes, their inputs difference for the larger home is greater, but only incrementally. The economics dictate to always build bigger and more expensive.
