this post was submitted on 20 Jan 2024
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How's your housing market these days? (slrpnk.net)
submitted 9 months ago by j_roby@slrpnk.net to c/memes@lemmy.ml
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[โ€“] KitDeMadera@lemmy.world 16 points 9 months ago (1 children)

Land value.

In my neighborhood, if that was on one of the original lots (100'x90'), it would sell for around $800k.

The trend in my city is to take one of these lots with old crappy houses (or even not so old crappy), tear down the house, sever the lot into two, and build 2 modern McMansions to sell for $2mill each.

[โ€“] Kit@lemmy.blahaj.zone 7 points 9 months ago

It's listed as a condo, so the purchase wouldn't include individual ownership of the land.