Re:US Construction worker productivity has dropped 40% in th...
by RC_ITR on Tuesday January 24, 2023 @02:14AM
(#34500459)
I disagree.
The root cause is that homes are in part appraised (for mortgage purposes) on hypothetical rebuild costs, so this is a way to make those rebuild costs higher (and justify why you’re paying $500k for something that cost $40k in 1980).
If it weren’t car garages, it would be kitchens.
Cars are a separate problem, as evidenced by the extreme housing prices in some of America’s least car reliant cities (NYC, SF, Boston, DC, etc.).
The root cause is that homes are in part appraised (for mortgage purposes) on hypothetical rebuild costs, so this is a way to make those rebuild costs higher (and justify why you’re paying $500k for something that cost $40k in 1980).
If it weren’t car garages, it would be kitchens.
Cars are a separate problem, as evidenced by the extreme housing prices in some of America’s least car reliant cities (NYC, SF, Boston, DC, etc.).