/biz/ - Business & Finance

Based

>>11895704
Absolutely, goy.
Make sure to glue some bricks on those particle boards in front.
Yes, 700k now might seem a lot of money, but zoomfags will buy it for 7 million 20 years from now.

>>11895704
ITT rentfag coping

That's what happened to me. I was told that my degree would be paid for they convinced me to get a student loan to Kick the Can down the road and then after I graduated they decided they weren't going to pay for it so now I'm stuck with $10000 to payback, which isn't so bad, but still they're buying an $800,000 house next month

>>11895704
I love how you queers cherry pick shittily built houses in shithole areas. Properly built "McMansions" as you call them, do not have these issues. The problem here is people not following building code, city building inspections not being carried out properly, etc. I don't think you understand the level of anal that goes into building codes in Can / US. European shithole cities are a joke compared to the building standards here.

Lmao. I just read the actual article. SURPRISE, SURPRISE. It's because building code wasn't followed. These houses should NEVER HAVE BEEN APPROVED BY THE CITY. This is a city management issue, not a "le american homes are built like shit" issue, you absolute fucking mouthbreather. Learn a trade you bottom feeding retard.

>>11895704
600k of that 700k goes towards the 5-10 acre lot you nimrod. the "house" part of a house is a depreciating asset, you don't want it to be a large portion of your mortgage. you also don't want a small ass house on a huge lot so you build a mcmansion and the next owner just knocks your shit over in 20 years.

>>11895704
Meanwhile in Europe.

>Hundred of years old houses still standing.

Some of the homes as old as the town/city itself.

When will Americans find out about:

>Bricks
>Stone,
>Reinforced Concrete
>Proper house building

Even apartments massed build by USSR are longer lasting then homes build 2000+ from Americans, and those were literally mass produced and put together as you would a puzzle.

>>11895704
Because home owners are retarded. They don't understand that markets go in cycles.

You live in cities that have been cobbled together like a patchwork quilt. Buildings built against each other. I can't imagine how fucked the electrical is in the average European building. Do you have lathe and plaster walls? Knob and tube wiring? Your fucking standard is 240VAC. LOL?

There is literally nothing wrong with mcmansions.

>>11897460
They will continue to be built though. They will continue to have these problems as long as construction is treated as a cookie cutter industrial process that is handled by unskilled labor.

>>11897640
>Spending more than $120 a square foot

no

>>11897570
We are paying for the land idiot. The cheap house on top can be rebuilt if the codes aren't followed.

>>11897112

That's not particle board, it's plywood, and it's much much stronger than regular wood

>>11897661
Live in an uninspiring home then. If a team of illiterate peasants can slap your house together in 10 days then it really is not quality construction. It certainly is not worth the majority of your life's earnings.

>>11897570

I live in one of those McMansions. The basement is usually concrete with steel rebar. The 2nd and 3rd floor use 2x6 construction covered with hardiplanks which are concrete wood composites. The reason is for ease of renovation and much better heating/insulation.

>>11897728
Aren't you the guy that was always posting his porch/backyard over the summer and then got doxx'd?

>>11897570
The United States used to use brick quite a bit in the early days. But solid masonry has essentially been regulated out of American building practice.

>>11895704
>mfw owning and living in a building made of cement and bricks as heavy as the pyramid's

>>11897746

I led a bunch of autists to someone who worked for DARPA. I am sure they are on some sort of govenment list now

>>11897703
>It certainly is not worth the majority of your life's earnings.

It's not. That's why it's as cheap as humanly possible. The mortgage is in the land. You are high if you think I'm financing midgrade+ materials.

>>11897775
why, how

>>11897665

>We are paying for the land idiot.

Herp-derp... we are paying for the land.
This may come as a shock but in Europe you can also own the land that your house is build upon.

>The cheap house on top can be rebuilt if the codes aren't followed.

Its a great idea to move to a hotel while my ruined home is being rebuild from the ground up and not inconvenient at all.

Lets hope that none of my possessions such as TV's and furniture and other costly items are damaged by some... hey is that a hurricane approaching. This year its 1 week yearly

>>11897570
My house is unironically older than the USA.
t. french frog

>>11897826
>mortgage is in the land

Lol. Okay, sure thing pal. You go and try that one on literally anybody involved in real estate and let me know how that one goes.

Here is a (you) for the trouble.

>>11897865
?????????????????????????????????????????????????????

IT IS 100% THE LAND. Holy fuck man. ITT: people who are children and have never owned property in their lives.

>>11895704
>mommy and daddy bought a house instead of funding my psychology degree while I experiment with my bisexuality.

the post

>>11897847

This is the house owned by the richest woman in Britain. It’s barely comparable to a modern McMansion

>>11895704

That house is more valuable than your shit degree

>>11897728
Good looking house, anon. Take notes, Yuropoors. This is how a house is built. Did you hear the part where he said CONCRETE WITH REBAR? 2x6? HARDIEPLANK?

>>11897888
It is not 100% the land. Land/dirt/air space is meaningless compared to the structure or whatever structure can be built on the land as allowed by the local authority. The value in the dirt is what can be built or occupied on it.

>>11897904
The stonework looks like shit and her grass looks terrible. A+

>>11897935
You must live somewhere where land is worthless, because I promise you, anywhere that it matters it is 100% the land. In BC lots sell for upwards of $700,000 CAD. It will be the same in any densely populated/major US cities.

Btw, "lots" being like .33 to .5 of an acre. Think about that for a second.

>>11897959
lol I live in Reno where there is a surplus of land. You can't build on most of it because the Federal Government owns almost all of it. Dirt is meaningless, all that matters is can you build on it and what you can build on it.

Same thing in the Bay Area or any densely populated area. You have plenty of land, it is all tied up in single family real estate. It would be far more valuable as a denser housing arrangement but the authority over the land won't let it move to a more productive use. Land is only as valuable as what you can build on it.

>>11897839
Most codes in the US require specific water and insulation barriers that make truly solid masonry impossible. Non residential projects here are typically CMU and insulation layers covered by a veneer of some kind. Usually a wood siding or decorative layer of brick or stucco. Residential projects no longer use masonry due to cost unfortunately. But you would be surprised how long a wood structure can last so long as you properly keep moisture out.

>>11895704
Literally made out off wood, lmao is this what americans call houses?

Cant believe i can make a brick solid house at half the price om spain and be confy as fuck.

>>11897998
>lol I live in Reno where there is a surplus of land.
And there it is

Construction worker in FL here, if your home is being built properly this will not be a problem. The subdivision we're currently building in are custom homes in the 500-700k range. If done properly this will not happen, and this is both a fault of shitty crews cutting corners and dumbass homeowners not making sure their homes are properly inspected and checking for any kind of water damage that may occur.

>>11897935
you are 100% retarded. it's absolutely stunning you are so confident in what you are saying.

>>11897959
is right

>>11897274
It is the end of the month

>>11897865
>>11897935
of course its not %100 in the land you dumb fuck, that is my point. you build a cheap ass house to marginalize the amount of structure you are financing with a mortgage.

>$100k lot
>spend $120k to build a 1000 sqft house at $120/sqft
>finance $220k

vs

>spend $100k on a lot
>spend $300k on 1000 sqft house for upgraded materials
>finance $400k

oh yeah mr. shekelstein lemme just finance granite countertops and solid stone walls, surely a great investment.

>>11897865

I own a 2 story building in the boros of NYC. It cost a bit over a million dollar. The value of the building itself, is only 400k, a double layer solid brick building. That is how much the insurance company appraised it to be worth and how much it would cost to build the exact same building from ground up in today's rate. So why does it cost over a million? The land it sits on, a 23ftx100ft lot is worth at least 700k, because of its location and because of its zoning designation.

>>11897904
>richest woman in Britain

>Using non pressure treated wood for the deck

Regardless if the local codes allow it, it's going to rot quickly one way or the other.

>>11897615
>im an americuck, i use metal conduit for electrical wiring

Says enough you spastic.

>Gutter spout in an insider corner

This is a very bad placement for a gutter spout.

>>11897413
>>11897460
Seething burger

I've got 1700sqm & 2750sqm full brick & concrete houses about 10 houses away & 15 houses away.

One spent 750k aud on the electrical... Land cost about 2.3m each.

>>11897677
stronger =/= element resistance.

The US has been building cheap Mc Mansions out of OSB and Ply in wet areas with evidently shite engineering solutions, while Europeans laugh for the past 3 decades.

As other posters have said in similar ways, i grew up in a house older than their country.

>>11898377
Incorrect. Your land is worth exactly zero. The structure is worth market rate and the zoning is what is valuable about the property. You can keep deluding yourself about the land being valuable, but it is only the structure or potential structure that has any value. This is why real estate prices get out of control, magical dirt is a fallacy.

>>11898075
Except there is a scarcity of buildable land and homeowners prevent rezoning.

>>11897570
europeans build from concrete and rebar because we actually experienced war.
these concrete monstrosities are near indestructible for a 100 years or more depending on the construction method and care.

>>11899928
Nah, unofrtunately those have a lifetime of around 100-120 years.
Concrete is indestructible, but those steel /ferrous hooks holding the panels together are susceptible to corrosion.

>>11895704
>http://www2.philly.com/real-estate/housing/water-damage-home-construction-defects-rotting-toll-cutler-stucco-20181115.html

Clearly, Toll Bros, a MAJOR home builder, fucked everyone and should go out of biz.

I know a little about home construction and blaming "city codes" is basically Toll Bros admitting guilt, and showing clear dishonesty.

They hired cut rate Wetbacks to do a job that actually DOES require some real skill (stucco) and if not done right will LOOK right, for about 6 months. LOL. Then it becomes "We gotta take ALL of it off".

Knew a shady guy who was SO proud to only hire Wetbacks from one small village because "they would never stab their village chief in the back".

Next year, for several years, his brand new home (facing well travelled fashionable street :) heh, heh) had ALL the stucco with bad repair lines, repaint, cracks AGAIN, rinse, repeat.

IIRC he said "I think I'll remodel with SIDING".

>>11899332
gutter is a bad idea anyways, get rid of them

>>11897460
>Lmao. I just read the actual article. SURPRISE, SURPRISE. It's because building code wasn't followed. These houses should NEVER HAVE BEEN APPROVED BY THE CITY. This is a city management issue, not a "le american homes are built like shit" issue, you absolute fucking mouthbreather. Learn a trade you bottom feeding retard.

You couldn't be more wrong if you tried. "city approval/codes" seem to work for all the other homes in the city NOT built by Toll Bros.

It is ONLY Toll Bros making the totally unsupported distraction claim about "city" anything.

Prob is Toll Bros went with shit-tier lowest bid on Stucco, which is KNOWN to go bad in year but look OK when "finished" up till then.

That is why you make sure you hire "real" stucco guys.

The REAL stucco guys will be serious and make all sorts of weird demands about when and how they can do certain parts of certain walls, and no one can get in their way, etc.

Toll Bros sub idiots will be "sure, anything you say, boss".

son should I use your college fund to buy you a house or pay for college???

>>11900050
dumbass, gutter required to stop massive water splash that repeat soaks house in same spot leading to rot.

I've seen enough dryrot damage to walk around a house and try you where is rot just from gutters or lack of.

Also bad idea to make nice little garden with sprinklers next to house, for same reasons. Even if sprinks set to not hit house, wind will blown water when you not looking.

>>11900119
buy rental house, let son manage

will teach son more than college

>>11900152
>water splash
>what are ground gutters

>>11895704
overall, McMansion are THE way to go.

There are reason why mega builders to individual spec home to "self build" types all gravitate to that style.

I know guys who live in McM and rent out rooms, and billionaires who own a McM in every major city area.

Good sized McM is as big a house as anyone needs and bigger is just more chores.

Designs are very comfy and allow easy addition or division, work at home, home biz with garage, etc.

>>11899162
seething incel virgin

i can SMELL your jealousy from here, sad

>>11899518
>3 decades
Euros knew you build shit from stone centuries ago. It's virtually impossible to get a stone house in some US markets because they actually outright lack trained stonemasons.

>>11897904
>This is the house owned by the richest woman in Britain. It’s barely comparable to a modern McMansion

I bet its got strange old smells that no one can get rid of, too.

Like an old European car 1000X.

>>11897357
(((Parents)))

>>11897615
>240V is bad

>>11899851

You're arguing semantics now.

Land that is unusable, is obviously fucking worthless. Land is worth money, because it implies exclusive right to that lot, and all the accompanying economic benefit it endows. Obviously, the better zoned, the higher the value. A lot that is zoned for 10 story apartment complex is worth more than a single family house. Meanwhile, a land in NYC that was contaminated by oil, because it used to be a gas station, is worthless, because you are not allowed to do anything with it due to government regulation for certain amount of years.

>>11897615
Thats why europe is beautiful. Its organic and not some mass produced bs like new ametican houses

>>11899851
>thinking the zoning is somehow decoupled from the land

you are being purposefully obtuse and trying to debate semantics.

>>11900758
Organic, and being trashed by imported niggers and sand niggers. How's that working out for your "organic" houses?

You don't understand how it works in b*rgerland. If you use proper construction materials such as concrete, stone and bricks instead of particle boards, wood and plastic + if you use tradespeople who know what the fuck they're doing instead of border-hoppers and lifted truck driving grade 9 dropouts then the b*rger GDP will collapse. You see, if a go... I mean a guy homeowner owns a quality home he will not spend as much money on repairs and his house will last for 100s of years. That is COMPLETELY UNACCEPTABLE and is borderline anti-semitic. However if a house is built like shit, requires constant repairs and will only last 20 years max after then all of this economic activity generates GDP growth which is very good and makes based b*rgerland strong AND FREE.

>>11901226
Another thing to consider: so a b*rger "owns" a house. Well what it actually means he is paying back his mortgage. Which means he pays interest. Now UH OH something goes wrong with the roof. Does a b*rger have money to fix that shit? Of course not. He is now forced to take out a loan from his bank. Which means he is going to be paying interest on the repair loan too. So you see it's a perfect system.

>>11901226
forgot the part where houses can't be inherited because there's nothing left of the house, if it didn't have to be liquidated for end of life care in the first place

>>11897826
Did you even read the article? It's not cheap at all, some people spent 100k+ on repairs alone.

>>11897665
lmao you're also paying for the tens of thousands of dollars of labor and supplies that went into building the actual house, you moron.

>>11901226
You have to follow local codes and regulations. You can't just build a house out of concrete and stone bricks because you want to.

>>11895704
So make houses of of brick I guess

>>11901741
And who writes local codes and regulations? hmmmmmmmmm

>>11900229
i agree, i really like quality built mcmansions

>>11895704
Did nobody read the article?
>Mitch and Cheryl Goldstein
>Goldstein

>>11901211

Im north american

is this ugly piece of woodshiit supposed to be a fucking family house???
WTF

>>11895704
>he thinks college education doesn’t have triple parentheses around it.

>>11900724
Land is worthless because it is a liability. People call land an asset when it is clearly an eternal liability. Buildings are assets, improvements are assets. Even your property taxes reflect that the underlying land is relatively worthless compared to the structure.

>You're arguing semantics now.

Yes. Words do actually matter. You don't really own your land if you want to consider it like that, all you own is the right to use it how it is currently used and can use it in new ways if you are given permission in the future.

Land doesn't appreciate in value. Rights appreciate in value, you even admit that. Donald Trump understood that and he made a killing in NYC understanding that simple trick. If you really want to understand my position consider that if land is worthless the only people who it has value to are the one's who really own it which is the government taxing it. You want to make money in real estate you squeeze the people taxing it.

>>11900804
It is completely decoupled from the land. Zoning only couples to the land when other people who own nearby land complain about a proposed use.

>>11902236
>Land is worthless because it is a liability.
Wow I don't think I've read anything so dumb.

Land is essentially a privilege to build on it. The more laws there are - likely the more it's worth (downtown NYC vs trailer park on Indian reservation in Nevada).
Obviously I don't like real estate taxes. But once again the people paying the highest taxes have seen the most property value increases over the last year.

>>11902412
Ok lol. You just keep thinking your land is what is valuable.

Reminder, people torched their buildings in the boroughs when the market collapsed because the insurance was worth more than the market value. Same situation could happen any time in the future and if nobody is buying you cannot sell.

Also, if you want to keep insulting where I live go ahead. If you would have put your money into Nevada at the bottom of the last recession you would have came ahead 4 to 5 times your initial investment if you paid cash, if you used financing it could have easily been a 10 bagger. You just look at the numbers and the geography and get back to me.

>>11902503

>market collapsed

NYC for the most part, was minimally impacted by the 2008 financial crisis, relative to the rest of the country.

The LOCATION of the land is what makes it valuable. If the entire area got fucking glassed, then obviously it wouldn't be worth shit.

>>11902625
Try 1960's-1970's. Same situation is more likely to happen globally than the secular collapse we had in 2008.

>>11902650

About the same as the 2008 one. Areas with high concentration of diversity saw declines up to 30%. While rich areas of NYC maintained their price or saw a increase of upward of 40%.

You can find plenty of asbestos filled, dilapidated houses in new york, selling far below market price right now, in shit neighborhoods. The question is, would you want to live in a crime infested, low income shithole?

I used to manage subcontracts. Lmao at the shit these guys get away with. You wouldn't believe it. And that's on top of the (((economical))) and (((green))) construction techniques that people love to jerk off about.

10 years ago, we used to complain about shoddy plywood from mass-produced tree farms. Now it's not even THAT.
It's literally glue and rubbish.

If I ever get a house built, I'd want to control or oversee almost every aspect, even if it doubles the cost.

>>11900170
What if the son WANTS to go to college? How could you live with yourself knowing you impeded his potential ambitions?

>>11902236
>Zoning only couples to the land when other people who own nearby land complain about a proposed use.

no. unzoned is a zoning status and has its own associated value baked into the price of the lot the same way a residential or commercially zoned property would. zoning is also non-transferable. again, you are debating semantics. next thing you are going to tell me is that the value inherent in the location of the land isn't attached to the land.

>>11900119
>>11900170
>>11903082
look at these delusional fools who think every child is entitled to a college fund

>>11897615
Bruh american electricity is 240 too

>>11903196
I said if he WANTS to not ENTITLED TO /biz/geoisie

>>11897888
82 acres with no house: 124K
0.41 acres with a house down the road: 240K

>>11903082
no-one under the age of 25 should be going the college anyway

>>11897468
lmao maybe in 1990, have you seen new developments? 3 story houses 10 feet from your neighbors so they can fit more houses to sell.

>>11903229
Just because you don't explicitly use a word doesn't mean that wasn't the intent of your message you fucking autist.

>>11903240
>82 acres with no house: 124K
cash only sale

>0.41 acres with a house down the road: 240K
financing available to every chucklefuck with a 700 credit score.

>>11903261
They should go to college whenever they want, it's the pursuit of happiness, but they may as well not even bother because the student loan bubble is sky high and employercucks hang on to their ancient half-dead employees anyway

>>11903280
>implying that ambition for self improvement vs. spoiled rich kid entitlement is the same thing

>>11903269
tract housing is a perversion of the american dream of home ownership that is peddled by greedy banks and developers to people who don't know any better.

>>11903219
In Europe their receptacles are all 240. Here it's just 120 but there is 240 into the breaker panel (some things like dryers, AC etc uses it)

>>11902503
You are renting everything from the government. Want antibiotics? You have to go to the doc and pay rent. Want a car? Pay your rent. Find a brick of gold? Oh that's nice, uncle Sam will take his cut.

Everything but breathing is just leased from your government & land is no difference. Essentially the government let's you do what you want inside theory insane rules (as long as you pay taxes). If you are just now figuring this out idk what to tell you.

I'm sure you did 10x on your land. But the lot Trump Tower is built on is worth more than 100s of acres of rural land (even though it has more taxes and more rules) because people assign values based off of potential returns on investment (not some arbitrary "how much freedom does this plot of land come with" libertarian wetdream