How long until the prices go through the roof? Does anyone know any more details of this project. Will it end up housing a lot of the real scumbags, unfortunately cheap housing has a way of doing that! And when will it move down south?
2007-10-07 09:27:51 · 2 answers · asked by jj26 5 in Business & Finance ➔ Renting & Real Estate
'Down south' the cost of the LAND can easily exceed the cost of the materials / house ..
HOWEVER when you come to sell, the buyer ONLY sees the house ... and the Mortgage Company lends on the house value (not the land value).
So it makes no sense at all to go for a 'cheap' building (== you will never get your money back).
2007-10-07 23:56:42 · answer #1 · answered by Steve B 7 · 0⤊ 0⤋
It is moving down south right now. That southern problem is always lurking.
2007-10-08 18:15:40 · answer #2 · answered by Patrick G 4 · 0⤊ 0⤋