dandykaufman2

dandykaufman2 t1_j9v4rtg wrote

A house will only sell for 400k if someone buys it for that much. That’s the demand part. Building it isn’t what made it sell for 400k. Then the house next door that’s not removated yeah now they know with up to date renovations they could sell close to that. But the house next door selling for that didn’t raise the prices for everyone. It was jus price discovery. (Putting aside if the house took up the place of an empty lot or blighted property.)

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dandykaufman2 t1_j9v1a35 wrote

We’ll the theory is these are priced the highest of anything and then down the line the rowhome off the Main Street with the drafty windows won’t charge as much. Also that neighborhood and Philly is growing so you have to account for increased demand. Maybe rent would have gone way higher than it even has without the new units.

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