How is real estate still considered a good investment when it will plummet in value if construction is ever automated, leading to lower construction costs and faster completion times?
News flash: construction is already being automated. See here: youtube.com
Why spend $500k on a house now when it will be worth $250k in 10 years?
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>if
big if if
Because we will still be breeding more than houses built so will never be enough meaning price is only to rise in long run?
Its location u brainlet. The house itself is only part of the equation
Not buying properties with gainz
The absolute state
what kind of nigger wants to live in a house like that? house way to big, property too small and no real garden. wtf is this shit.
But location is only a small component of overall value. If you suddenly have thousands of new apartments built in Canary Wharf, the existing apartments don't hold their pre-expansion value because of the value of the location.
It's a vacation home in the Bahamas.
the land is more important
this makes it a little bit better if there are multiple apartments in that house.
No it's literally most of the value
There is an empty lot in my city selling for 1m. Houses on both sides sold for 1.5
But the value of the land is derived from what you can do with it. It isn't intrinsically valuable.
Land is valuable because you can build on it, and the buildings are valuable because you can sell them or receive rents from them. If it suddenly becomes much cheaper to build structures, it is inevitable that those structures will be worth less at sale or in rent, meaning that the land is correspondingly less valuable.
You live in a city with a big housing bubble. Vancouver? Toronto? Sydney? London? San Francisco?
Sort of I'm in South Florida
Especially they way we 4channers live now days. The land can be anywhere really, location is not that important, what is important is an internet connection for anime and a big dropbox-mailbox to receive Amazon deliveries and grocery deliveries of chicken tendies.
Otherwise can live in a beautiful forest area with plenty of house space and doggos.
And this is if AI doesn't arrive. If general artificial intelligence is created, the land is worth even less, because you no longer need human workforces to live in high-density environments to achieve high efficiency. We could live all over the country.
I'm considering buying a bunch of vacant land for exactly this reason.
But it has to come cheap. Where is there cheap vacant land somewhat near a good location that could potentially rise in value as labor is automated?
Land is a scarce resource, everyone in this thread a nigger
>We could live all over the country
Yeah I'm sure people being able to live anywhere they want won't make land more valuable overall, even if it might lower the value of extremely desirable locations
Simple.
They don't make any more land.
You are aware that location is what drives prices up, right?
The planet Mars called to inform you that it has plenty of land, in fact the same as all the Earths landmass put together (minus the ocean).
Dumb fuck, Property gives real-estate value, not the pile of sticks sitting on it.
>Mars
It is, like, a hundred thousand times cheaper to just make o'neill cylinders.
Reason why you only buy land/property in locations where they will never lose value. Downtown of any big city. For example manhattan.
>not buying Alaska property at ICO price
It can't go down
I've been pricing up alot of properties all over the state I live in due to many lovely cabin towns with lakes all over. alot of property with all the tree's and land overgrown still for under 30k. Not always the best sizes but enough of those are worth a buy and clear and flip.
One place I have alot priced to get over the next year is tiny with maybe 300-400 living there year round but it also has a post office so it serves the send/recieve packages part.
Might retire there after buying up alot of property
How do you derive an income if you live in nowhere land?
Literally priced in kiddo. Of course it can do down.
i hope i'll be alive for at least 50 years more so i can see the robot and AI revolution and the jobless panic that it will bring before UBI is brought in. also looking forward to see if we actually do set up colonies on mars.
Materials cost the same.
Developing world: cheaper labor, cheaper lot
Robots build it? Oh nice it will be 15% cheaper now.
Nigga u dumb
U are a retard. Learn the first 3 rules of real estate. Its like 100x more for a similar house in beverly hills than in texas or mexico.
name fag
Move out of ur moms and rent. Apartments are shitty but still cost more than a mortgage for a house in most cities. You will soon see units closer to desirable areas cost more. Same shitty paint just 10 blocks down. Look at Harlem and upper East side nyc. In Brooklyn the brownstone are the same but are priced on location. Fuck I could boil this down to a campground. Closer to shower or beach may cost more. Even fucking sports tickets better seats = More $$.
work remote with the internet
Or
Own a business capable of generating income while you do "paperwork"
Investments sometimes have dividends they pay if u own the right stocks.
Automation doesn’t make more land.
Construction will never be automated you fucking autist. Only people that work in a 3x3 cube all day think autistic shit like that.
lol
It’s the opposite, user. As AI, automation, and working from home accelerate, the trend has shown that wealth also becomes more concentrated while there becomes less economic incentive to stay in rural and suburban areas so all the other lifestyle factors that go with living in higher COL areas become even more important.
This is what you’ve seen in the USA for the last 20 years: major cities like NYC, San Francisco, LA, etc. experience skyrocketing real estate costs, especially in desirable neighborhoods, while rural and suburban areas whither and die, due the amenities and lifestyle that big cities and trendy neighborhoods offer. The location becomes even more important.
There have been successful attempts to build homes via automation for decades. They tend to be low quality and no one wants to live in them. They’re called trailer parks.
People could live anywhere, but if you had your choice would you rather live by a beach in LA, a nice NYC condo, or some shithole in Kentucky? Location matters even more here because the ability to live anywhere also opens up even more competition for the prime places to spend your life.
that is what people said with the invention of pcs and the internet. Has not happened cause the boss won't let you out of principle.