Sure but the new economy sedan is more expensive than the used economy sedan.
According to this interpretation therefore, if you build a new house, and it is broadly similar to houses in the neighborhood in which you build it… it’s going to be expensive relative to its neighbors. It will perhaps be perceived as “luxury” despite just being new.
> If the land is valuable, and all you can build on it is a single-family home, why not build a very expensive single-family home?
The article suggests changing zoning so triplex/fourplexes can be built. Even if they have marble countertops, they'd still be more affordable than a house.
Currently, I can't build the housing version of a Camry.
I live in a townhouse. Its land efficient, i have a garage w/ storage its relatively affordable to houses. What i dont like are HOA fees and useless common expenses (the pool) and forced rules (only white curtains). The space 3 units take up is about one house in same neighborhood.
According to this interpretation therefore, if you build a new house, and it is broadly similar to houses in the neighborhood in which you build it… it’s going to be expensive relative to its neighbors. It will perhaps be perceived as “luxury” despite just being new.