News for hackers. Stuff that matters.

A comment on Home Values Are Rising by $800 a Day in San Jose. Parent comment

Re:Home Values Are Rising by $800 a Day in San Jose by seanp2k2 on Tuesday April 10, 2018 @12:12AM (#16798929)
The thing holding me back is that I don't think it's sustainable to have small single-family homes going for >$1m in tear-down condition. It might not get hit with a huge correction, but I can't see these properties being worth $5m in 2028. No one can predict the future, but I don't see how it can keep going at anywhere near the pace it's currently going.
[ Parent | on HN ]
Re:Home Values Are Rising by $800 a Day in San Jose by jjeaff on Tuesday April 10, 2018 @01:13AM (#16799119)
That $1m is for the land. The tear down condition home can be upgraded ad-infintum. Look at the tiny London flats right now where they are building multiple stories down into the ground.
[ Parent | on HN ]