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| Re: Middle Village and Maspeth NIMBYs come out to oppose IBX (1645198) | |||
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Re: Middle Village and Maspeth NIMBYs come out to oppose IBX |
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Posted by Bill West on Sat Nov 15 03:11:25 2025, in response to Re: Middle Village and Maspeth NIMBYs come out to oppose IBX, posted by Spider-Pig on Fri Nov 14 20:39:59 2025. Denser zoning may raise the dollar digits in a house's value but the homeowner actually loses. This is because a house's value is dollar value+home size/quality value+location value. Rating the location as 1 to 10 stars, a home in a single family neighbourhood that is rezoned to high rise might go from $500k to $750k but it will fall from 7 stars to 3. Meanwhile the $500k/7 star houses in a nearby un-rezoned neighbourhood will go to $800k because of the reduced number of such houses available. Oh and if you take the money and move, the real estate commission on selling the $750k house in order to move will be around $20-25k along with $10-15k moving costs. So that's $730k net sale and $815k net buy to end up no better than you were.Our whole political dilemma these days is not thinking these things through far enough. Bill |
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