Quote:
Originally Posted by Bill Bumface
Going back to the Bridgeland example, there is a duplex I know of from 1985 that is assessed at $712k for both sides, so $356k a pop. That's affordable.
The shiny new 4 unit row house that makes a developer rich will be a mediocre 4 unit row house after it ages enough, and this will turn into more affordable housing with age. It won't if we don't build it.
It also seems obvious that brand new depreciating things are more expensive when brand new. Houses can easily last 50-100 years and we have to look at the full lifecycle of what gets built.
The best time to plant a tree was 20 years ago, the next best time is today.
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assessments don't mean anything if the house hasn't changed hands recently. I bought my house in 2009, it appraises for about 70% of market value, My neighbor has lived in their house since the 90's and their assessment is about 40% of market value.