Lumber crash leads to 'blowout' sales as prices crater

Re:Lumber crash leads to 'blowout' sales as prices crater by ventidesigns on Thursday September 16, 2021 @06:07AM (#28549854)

There’s some successful projects though! There’s a good range, I like the variety, from spectacular ego-driven marriage-ending failures (…the lighthouse[1]) to some beautiful labours of love (the tree house[2]).

Grand Designs is as much a monument to human achievement as it is failure!

[1] https://youtube.com/watch?v=3AlsMEiAMvM [2] https://youtube.com/watch?v=CBpRLzbrCa8

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Re:Lumber crash leads to 'blowout' sales as prices crater by PaulDavisThe1st on Thursday September 16, 2021 @01:14PM (#28554437)

It's amazing how many of the projects featured on GD end up being sold not long after completion.

The most dramatic one that I noted was a very contemporary museum looking home. The owner stressed how long they had spent planning it, and how you only get once chance, and it would be his dream home. He completes the house in the Surrey woods (it was beautiful, to be sure). Sells within a year and buys property on the Costa del Sol in Spain.

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Re:Lumber crash leads to 'blowout' sales as prices crater by ErrantX on Friday September 17, 2021 @04:30AM (#28562742)

A lot of the issue is; they underestimate the build cost. So they end up with a decent chunk of equity (can be as high as 40% in some cases) but also a tonne of unservicable debt.

So you have two choices; struggle and be miserable for as long as you can before it all falls apart (but in your dream home) or sell up for financial safety and compromise on the location.

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