Property Values and how destructive overvaluing it is

This is an archive of the mabination.com forums which were active from 2010 to 2018. You can not register, post or otherwise interact with the site other than browsing the content for historical purposes. The content is provided as-is, from the moment of the last backup taken of the database in 2019. Image and video embeds are disabled on purpose and represented textually since most of those links are dead.

To view other archive projects go to https://archives.mabination.com

Kingofrunes wrote on 2013-08-29 19:52

Too often I see the same stupid shit from people concerned about their "property values" going down.

Want solar panels on your roof or a windmill in your backyard to save energy costs. Nope! It's going to lower my "property values" so I'm going to complain to the local government about it or sue you.

Have someone who lives with you that has a mobility disability and needs a ramp? To hell with them! It'll lower my "property values" so I'm going to sue you for adding a ramp to your home.

It's like seriously now?! So many times I read about dumb shit like that that makes me so mad. This is why we can't have progress and why people have to inconveniently suffer.

All because some fucktards decided that they would complain and sue for fear of their property losing value. Human greed really makes me sick sometimes.
Campylobacter jejuni wrote on 2013-08-29 19:59

I've never seen anything like that.

Probably an American thing.
Kingofrunes wrote on 2013-08-29 20:21

Quote from Campylobacter jejuni;1141952:
I've never seen anything like that.

Probably an American thing.

Probably is. The most greedy people in the world I swear.
Yoorah wrote on 2013-08-29 20:56

You have to put things in context. Property value is important because for many people, the value of their home is their investment for retirement--and it's the biggest investment most people will ever make. So naturally, if someone does something that lowers the value of your home by, say, $50~100,000... It's basically the same thing as someone going to your bank account and taking that money from you. You have the right to be pretty pissed off about it, and you should defend yourself if the law is on your side. There's probably legitimate and illegitimate claims when it comes to this stuff.

Also, solar panels don't lower property values. They may do the opposite, in fact. Wind turbines do lower property values, because for many people they are an eyesore and some claim there's a negative impact on health, but it's probably mostly BS.
Valkyrio wrote on 2013-08-29 21:38

I think what Kingofrunes might be referring to here is more along the lines of HOA guidelines rather than actual property values.

HOAs are hell. Never move somewhere where there's a HOA. They will do shit like this to you all the time (can't paint your home a specific color, have to keep your lawn manicured a certain way, etc etc.)
Kingofrunes wrote on 2013-08-30 00:10

Quote from Yoorah;1141972:
You have to put things in context. Property value is important because for many people, the value of their home is their investment for retirement--and it's the biggest investment most people will ever make. So naturally, if someone does something that lowers the value of your home by, say, $50~100,000... It's basically the same thing as someone going to your bank account and taking that money from you. You have the right to be pretty pissed off about it, and you should defend yourself if the law is on your side. There's probably legitimate and illegitimate claims when it comes to this stuff.

Also, solar panels don't lower property values. They may do the opposite, in fact. Wind turbines do lower property values, because for many people they are an eyesore and some claim there's a negative impact on health, but it's probably mostly BS.

While that's all well and good. Is that extra $50,000 worth making it so that it's difficult for people in weelchairs to go around because you're afraid that them having a ramp on their house will lower your property value?
RebeccaBlack wrote on 2013-08-30 03:46

Quote from Yoorah;1141972:
You have to put things in context. Property value is important because for many people, the value of their home is their investment for retirement

Tough shit. Can't control someone else's property unless you own it.

I completely agree with him. Everyone needs to mind their business and accept that when they buy their homes, they are only buying the homes themselves. But this will never happen, which is why I'm probably never living in the city unless it's really profitable to me.

if someone does something that lowers the value of your home by, say, $50~100,000... It's basically the same thing as someone going to your bank account and taking that money from you. You have the right to be pretty pissed off about it, and you should defend yourself if the law is on your side.
No it isn't and no they don't. They absolutely don't have the rights to that. If their home was artificially inflated in value by dumb rules and things change, it's absolutely their problem to deal with and not the ones who made the value drop. They probably should've made a better investment instead of relying on crappy rules to try to make people (and consequently, them, because they bought into it) pay more than what they're getting is actually worth by quite a large margin. After all, aren't people supposed to be responsible for their own money? If it bothered me so much, I'd move. And people don't like to hear that, but it's true. You can't just force someone else to do something to your liking just because it isn't for your financial benefit. You can, however, only buy things that are actually worth paying for.

Quote from Valkyrio;1141981:
I think what Kingofrunes might be referring to here is more along the lines of HOA guidelines rather than actual property values.

HOAs are hell. Never move somewhere where there's a HOA. They will do shit like this to you all the time (can't paint your home a specific color, have to keep your lawn manicured a certain way, etc etc.)

Also this. Hate HOAs at least from my experience with them thus far and hate the things they stand for. Feels like money dumped down the drain really.
Campylobacter jejuni wrote on 2013-08-31 02:08

Homes you live in are not really an investment in the sense that you're trying to make money out of it, unless I mistook the meaning of "having your own home". I don't really get it. I think they're just envious that they don't have the money to pimp their own home. At least in that case there is a modicum of sense in their complaints, even if it's selfish to the nth-degree.

If they did plan to actually invest then they should've been cleverer than dumping all of their money into an immovable anyway. That's not investing, that's being a silly buffoon. Or they could actually invest in their property, thus increase property value by themselves and then sell or rent out to someone.

I am also at a loss to understand how something as blatantly "socialist" as this is supported by a conservative corporatist.

Quote from Yoorah;1141972:
and some claim there's a negative impact on health, but it's probably mostly BS.

Most certainly. What are the specific claims?

The only health getting affected is that of the bird flying straight into it.

Quote from Yoorah;1141972:
Also, solar panels don't lower property values. They may do the opposite, in fact. Wind turbines do lower property values, because for many people they are an eyesore and some claim there's a negative impact on health, but it's probably mostly BS.

He's talking about neighbouring properties losing value/attractiveness I think.
RebeccaBlack wrote on 2013-08-31 09:49

Everything is kind of an investment in its own way. This being a big purchase, yeah, I'd hope it's an investment to most people in some way and they aren't just throwing hundreds of thousands of dollars (or more!) at something blindly because they like it. There's nothing wrong with getting things because you like them (especially not something you have to live in), but there's an awful lot of options to choose from as well so people can find both value and something they love.

I mean yes, you do need a home so it's not an investment in quite the same sense that putting that same money into stocks would be an investment, but any time you move a large chunk of money around into something you will own, you might as well treat it as any other investment.
Campylobacter jejuni wrote on 2013-08-31 11:59

Your own home isn't a financial investment. Simple as that. There's absolutely no ROI. Au contraire, there are running costs aplenty that easily destroy any profits. The only "investments" here are to replace old technology and parts with new ones to cut down on those running costs and maintain attractivity. This thing will take AGES to simply amortise compared to paying rent! Either you don't plan to move out for several decades and are lucky enough to be able to go through with it, or you will make a net loss, including opportunity costs for missed investment options.

On top of that liquidity couldn't be any worse.

Your own home is not a financial investment. Period. DOUBLE PERIOD.