Is it normalizing? Or just pointing out how things are today?
It’s possible to describe reality without approving of it.
I don’t like that lakefront property is so expensive, but it surely is. I’ve been casually looking for years and I don’t know if I’ll ever afford it. And the headline is complaining about a shed selling for $225k when it’s pretty obviously the land and lakefront access that comes with it that is selling for that amount. The structure is a throw in and there’s a good chance whoever buys it simply demolishes it to build what they want.
But surely some land or homes have more desirable features? Should an acre of beautiful lakefront property command the same value as a dirt lot next to a dirty industrial park?
Either way, let’s say your idea for how land and homes should be valued is executable in the real world. I still don’t understand why acknowledging the way things are in reality as things stand right now is the same as normalizing it. Ignoring something doesn’t get it changed.
It’s only artificial until someone buys at that price, then that price is a real measure of how much money someone in the market was willing to spend at the time they bought. Other market participants observe this behavior and adjust their own pricing expectations accordingly. There’s nothing magic or artificial about this, it’s supply and demand.
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Is it normalizing? Or just pointing out how things are today?
It’s possible to describe reality without approving of it.
I don’t like that lakefront property is so expensive, but it surely is. I’ve been casually looking for years and I don’t know if I’ll ever afford it. And the headline is complaining about a shed selling for $225k when it’s pretty obviously the land and lakefront access that comes with it that is selling for that amount. The structure is a throw in and there’s a good chance whoever buys it simply demolishes it to build what they want.
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So what is your contention? That people should just say that land doesn’t cost what it actually costs? I don’t understand.
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But surely some land or homes have more desirable features? Should an acre of beautiful lakefront property command the same value as a dirt lot next to a dirty industrial park?
Either way, let’s say your idea for how land and homes should be valued is executable in the real world. I still don’t understand why acknowledging the way things are in reality as things stand right now is the same as normalizing it. Ignoring something doesn’t get it changed.
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I don’t think this conversation is happening in good faith. I wish you the best.
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It’s only artificial until someone buys at that price, then that price is a real measure of how much money someone in the market was willing to spend at the time they bought. Other market participants observe this behavior and adjust their own pricing expectations accordingly. There’s nothing magic or artificial about this, it’s supply and demand.
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Lol you are just mad at reality.
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🤣👌👍