Why developers seem to only build luxury housing (2018)

Re:Why developers seem to only build luxury housing (2018) by chrisseaton on Saturday May 28, 2022 @11:21AM (#31540974)

In the UK new-builds are seen as the worst option. Most people want a house from the 20s or 30s if they can. Every decade beyond that the quality of housing got worse and worse and worse. These days buying a new house is a desperate option for people who can’t afford anything else.

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Re:Why developers seem to only build luxury housing (2018) by bombcar on Saturday May 28, 2022 @11:30AM (#31541060)

There’s some of that in the US but the reality is that modern home construction is way ahead on energy usage, even if the homes aren’t built from solid timbers and boards.

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Re:Why developers seem to only build luxury housing (2018) by lotsofpulp on Saturday May 28, 2022 @12:07PM (#31541414)

It is only on this forum that I have encountered this bizarre “all new construction is lower quality than all old construction” opinion.

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Re:Why developers seem to only build luxury housing (2018) by bombcar on Saturday May 28, 2022 @07:45PM (#31544890)

It exists elsewhere and with qualifications it can be correct. My sub-floorboards are inch+ thick solid oak. You’d never see that today.

But many other aspects of the house are annoying and silly.

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Re:Why developers seem to only build luxury housing (2018) by dazc on Saturday May 28, 2022 @11:33AM (#31541092)

Elephant in the room being the 'help to buy subsidy'. Half the deposit needed for a new build rather than an old build.

That said, I'm not sure I have much sympathy for these buyers. There is a new esatate near me where everyone is driving a newish car in the 30-50K price range?

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Re:Why developers seem to only build luxury housing (2018) by adhesive_wombat on Saturday May 28, 2022 @11:43AM (#31541206)

I genuinely do not understand where the money comes from for the number of very new BMWs, Mercs, Audis and Range Rovers on the roads comes from. It seems way out of step with my impression of "normal" salaries (in the UK).

I guess either it's a dangerous amount of finance or I'm just very underpaid. Not that's I'd buy a new car anyway, I'll let someone eat that five-digits depreciation thank you.

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Re:Why developers seem to only build luxury housing (2018) by chrisseaton on Saturday May 28, 2022 @11:48AM (#31541245)

A lot of people get a new car as a company benefit. And you can get a new BMW from like £27k they aren't that expensive.

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Re:Why developers seem to only build luxury housing (2018) by scarface74 on Saturday May 28, 2022 @11:36AM (#31541131)

When we had our house built. The builder only required 5% down (2016). We later got an FHA mortgage with 3.5% down and we got the other 1.5% back.

Of course we refinanced when the housing market got crazy and reduced the interest rate to 1.5% and got rid of PMI (FHA MPI)

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Re:Why developers seem to only build luxury housing (2018) by nopenopenopeno on Saturday May 28, 2022 @11:30AM (#31541059)

For houses, it is the same in the US. But new condos and apartments buildings are another story.

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