U.S. Building More Apartments Than It Has In Decades, But Not For the Poor: Report

[Schadenfreude]

I wonder if there's a market for affordable new starter homes around 175-225k in the Midwest..

 

[Jimmy from Linkedin]

I wonder if there's a market for affordable new starter homes around 175-225k in the Midwest..

They would sell as soon as you announced them. The trick is, can you build them quick enough to not pay the interest payments on the loans that you'd need to buy everything in advance? Do you have your hands in the pockets of the councilman that would already be pressing you for increased property values? You've got retail nearby lined up? You know the permit man and he'll be there on time? Same for the inspectors, linemen, etc?

 

[thelonious21]

They building apartments all over atlanta

shyt . Any where they see space here in Fort Lauderdale they building apartments..

And fukking no one can afford them..

The wild shyt is some of the first ones they was building like 3 years ago still got empty apartments.. but they still building them shyts

 

[zayk35]

Every time I go to downtown S.D. all I see is more and more high rise luxury apartments and homeless encampments literally right next door.

 

[NoMoreWhiteWoman2020]

I wonder what effect this will have in 10 years on our society. Will those apartments eventually become the slums?

 

[Still Benefited]

Perhaps. But if said employer is paying close to $25/hr and you don't need a trade or a college degree, that's the perfect time to stack money to get an apartment, pay down debt, or start saving for a house.

No no,no need to get paid. They will also take care of your transportation, food,clothing budget.

Do yall still not see how they have us working for free?Slavery with better conditions. Now the plan is to make these conditions seem so horrible,that they can put you on whats basically a plantation and have you be grateful for it

 

[At30wecashout]

They would sell as soon as you announced them. The trick is, can you build them quick enough to not pay the interest payments on the loans that you'd need to buy everything in advance? Do you have your hands in the pockets of the councilman that would already be pressing you for increased property values? You've got retail nearby lined up? You know the permit man and he'll be there on time? Same for the inspectors, linemen, etc?

Breh this is absolutely gospel. If you put anything in the 175k-225k range with a 3/2 configuration it is instantly the hottest property on the market. I was looking at Zillow yesterday and realized if I wanted "sure thing" purchases, I need 600k in Chicago to basically pick my home in most neighborhoods (as in have the broadest reach). All of the "starter" level homes saw ridiculous price increases e.g. 210k in 2019 to 350k in 2024 and that is where most of the competition is. Even if I wanted to buy lower than I can afford, I am suddenly smack-dab in where everybody is bidding.

If those homes were being made en masse, it would be a bloodbath to get them.

 

[Still Benefited]

A post from another thread

OP asked why prices for houses have gone up even though they've gotten older.

You mocked him saying it is a matter of 'supply and demand' as if it explains anything.

But as I've said, the real reason is that banks need someone to take out a loan with them so they can make money. Hence they offer people a boatload of credit so they can earn significant interest. If banks didn't do this, no matter how much people want to live in Miami, the prices of the houses couldn't keep going up the way they do because people wouldn't have the money to bid or pay for them.

It's not the 'demand' of people's desires that caused prices to go up but rather the banks' predatory business model. They're flooding the market with credit. They're driving this. And again, it's only because prices are allowed to be set above a certain point, which isn't an iron law of nature that we couldn't choose to overrule.

Invoking 'supply and demand' is meaningless in this context. It's only restating that every sale has a buyer and a seller which explains nothing.

"Bu bu but supply and demand" is the lie they want to sell us. Houses really need to depreciate like cars

https://www.thecoli.com/threads/if-houses-depreciated-like-cars-wouldnt-that-solve-most-economic-issues.986084/page-2#post-49939606

 

[CouldntBeMeTho]

Luxury apartments

 

[CouldntBeMeTho]

A post from another thread





"Bu bu but supply and demand" is the lie they want to sell us. Houses really need to depreciate like cars

https://www.thecoli.com/threads/if-houses-depreciated-like-cars-wouldnt-that-solve-most-economic-issues.986084/page-2#post-49939606

Houses can and do depreciate. The problem is it takes a long time. Also it depends on more factors then just the house. Like the neighborhood

 

[Still Benefited]

Houses can and do depreciate. The problem is it takes a long time. Also it depends on more factors then just the house. Like the neighborhood

Theres always the "it also depends on more factors". If thats the case the factors shouldnt be the same nationwide. These "other factors" shouldnt always be an excuse for why things are more expensive. Why arent there ever factors in some places for why things are dirt cheap? There should be places where the homes/apartments are 400$ per month where nobody wants to live.


This would be possible if houses depreciated like cars. Because then homes and real estate wouldnt be good investment vehichles to price gouge people.


It would be a great way to save money,and a great secondary income after you actually buy it.(If you decide to rent it out). As well as lead to earlier retirements,global expansion

 

[Schadenfreude]

They would sell as soon as you announced them. The trick is, can you build them quick enough to not pay the interest payments on the loans that you'd need to buy everything in advance? Do you have your hands in the pockets of the councilman that would already be pressing you for increased property values? You've got retail nearby lined up? You know the permit man and he'll be there on time? Same for the inspectors, linemen, etc?

Actually...yeah. Might have a serious lead on investors, two builders and how to get the permits quickly. The question is, where to start. And if retail is 10-15 minutes away by car or 3 stops away by public transit would that be good enough? Because there's a few properties in the Midwest that fit this description and are up for sale.. . Would still start small with 1-2 houses and go from there.

Edit: Also, if this works, I'm not sure I'd be able to keep up with the demand. Even at these interest rates, a 3/2 starter house thats at 225k max before closing costs I hope would be affordable for the majority of people. Need to find out if there's a builders license test I need to take...

 

[The_Truth]

Money laundering.

Has to be at this point. It makes no sense otherwise.

Why are you building all these apartments that only rich people can afford when you know rich people are the minority?

 

[TELL ME YA CHEESIN FAM?]

They're building them shyts fast as hell too
I have seen almost 6 Complexes go up in Houston in lightning speed