“High End” Apartment Construction Creates Mismatch of Supply and Demand

Re:“High End” Apartment Construction Creates Mismatch of Sup... by moltar on Saturday October 13, 2018 @07:31AM (#18207489)

It is illusionary high end.

Go take a tour of some of these and look at everything with a critical eye. You’ll notice that workmanship is usually very poor, fixtures are of cheap Chinese quality, faux materials everywhere.

I think the industry just learned how to make high-end-looking very well.

In reality many of these luxury buildings have quality problems to come years after delivery. And good luck getting the builder to fix it. They conveniently “go out of business” or just drag on forever with promises and even court battles.

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Re:“High End” Apartment Construction Creates Mismatch of Sup... by village-idiot on Saturday October 13, 2018 @11:43AM (#18208473)

Having lived in a few of these “luxury” places, I have a theory.

They build the structure of these buildings very solid, but the fixtures purposefully cheap. Once styles change they can gut renovate them for very cheap and maintain their stylish image (and rents). I think a very well made but out of style apartment would be more expensive to make and lose rents more rapidly.

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Re:“High End” Apartment Construction Creates Mismatch of Sup... by eigenstuff on Saturday October 13, 2018 @01:30PM (#18209029)

I can't help but sit here and think "so it's like the Forever 21 of apartments," ha

What's wrong with timeless instead of trendy?! (Rhetorical question)

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Re:“High End” Apartment Construction Creates Mismatch of Sup... by village-idiot on Saturday October 13, 2018 @02:16PM (#18209251)

For me? Because it’s not available in the areas I want to live.

Also, my wife is very sensitive to mold & mildew, so brand new construction is easiest on her.

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Re:“High End” Apartment Construction Creates Mismatch of Sup... by treis on Saturday October 13, 2018 @02:45PM (#18209380)

There's no such thing as timeless.

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Re:“High End” Apartment Construction Creates Mismatch of Sup... by jazzyk on Saturday October 13, 2018 @05:34PM (#18210136)

Ever been to Rome or Florence?

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Re:“High End” Apartment Construction Creates Mismatch of Sup... by macawfish on Saturday October 13, 2018 @06:10PM (#18210285)

Quality stands the test of time.

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Re:“High End” Apartment Construction Creates Mismatch of Sup... by k_sh on Saturday October 13, 2018 @02:28PM (#18209314)

As I mentioned in another comment here: "luxury" gets you around rent control in at least one major US city, so I imagine there are developers out there doing the absolute minimum to meet "luxury" standards.

It's a perverse incentive: they make it nicer to avoid regulations, not to actually attract luxury-minded tenants.

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Re:“High End” Apartment Construction Creates Mismatch of Sup... by moltar on Saturday October 13, 2018 @02:49PM (#18209399)

Or convert to retirement homes ;)

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