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A comment on Asking rents in San Francisco continue to slip, but…. Parent comment

Re:Asking rents in San Francisco continue to slip, but… by xur17 on Monday April 26, 2021 @07:11PM (#26949501)
> In Auckland, New Zealand, average capital gains exceed $40,000 per month. Land banking is incredibly lucrative.

On what property value?

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Re:Asking rents in San Francisco continue to slip, but… by Mandatum on Monday April 26, 2021 @10:12PM (#26951068)
Average property price in Auckland is 1.2M NZD. Property prices rose 20%+ last year in Auckland. So the capital gains quoted aren't really average, the average rate is half of that.

Sure there are outliers; but if your property costs 2.4M NZD (1.7M USD) then those numbers are accurate. Either way, land is the best investment right now and I don't see it crashing any time soon.

"Land can only go up". Even with COVID and closed borders.

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