-Motor- t1_j9peuao wrote on February 23, 2023 at 5:07 PM

Reply to comment by KITTYONFYRE in Senate panel advances major housing bill, overhauling municipal zoning and Act 250 by DaddyBobMN

There's more risk in cheap housing. People that can afford a mortgage for a cheap house, can't actually get the bank to lend them the money. I don't see $400k+ pro homes sitting empty.

KITTYONFYRE t1_j9pgir3 wrote on February 23, 2023 at 5:17 PM

do you know why you can see plenty of houses for 300k+ on realtor.com right now, and barely any for 200k under? because the cheap ones are bought up immediately.

anyone who can afford a mortgage for a cheap house can easily get a mortgage. it's really not hard to get a mortgage if you can actually afford the house. i can ACTUALLY AFFORD a sub 200k mortgage, but I've been approved for a 260k mortgage. it is way too easy to get approved for way too much mortgage.

-Motor- t1_j9phdu0 wrote on February 23, 2023 at 5:23 PM

This is about new construction. That's where your started. Contractors aren't making cheap housing because it's not as profitable for almost as much effort. Period. No one, that isn't on some sort of government funded or outreach/charity endeavor is making cheap housing. And go talk to a realtor or a lender about $90-150k homes and prospective buyers credit. I'm in a family of bankers and mortgage brokers.

KITTYONFYRE t1_j9psi6f wrote on February 23, 2023 at 6:31 PM

> Contractors aren't making cheap housing because it's not as profitable for almost as much effort.

Wrong! Contractors aren't making cheap housing because they literally can't due to current regulations. All condo buildings are luxury because they have to be, it could easily be profitable if there was less regulation around building multi unit mixed use housing in VT.

ElBrazil t1_j9tsico wrote on February 24, 2023 at 2:43 PM

> Wrong! Contractors aren't making cheap housing because they literally can't due to current regulations.

It doesn't matter. If regulations allowed cheaper housing to be sold at a profit, developers will still target the highest margins first, which is going to be the more expensive units

KITTYONFYRE t1_j9uckft wrote on February 24, 2023 at 4:55 PM

maybe. at least the option would exist, and no doubt that option would be taken more than its being taken now (ie, never)