Quote:
Originally Posted by golfing eagles
No developer, anywhere, ever, is going to build infrastructure "on his own dime". Usually it is included in the price of the home, here it is financed by bond offerings. Same difference, but it does make the price of the home appear to be lower. No different that the low fare airlines that then want to charge you extra for the engines or a pilot.
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Benefit to the bond: Easier to qualify for any mortgage needed to purchase a home
Drawback to the bond: Prices can be inflated (increased profit) since $30K+ of the true cost is hidden
Rationalization for the bond: The price of the house is the true price since it is the price of the land and the structure. The bond pays for the infrastructure which the homeowner will never own and will never ask their insurance company to replace after a storm or fire.
Outside the bubble: The cost of the infrastructure was paid for somehow. Either the city paid for the developer to put in streets, water lines, and sewer lines or the cost was divided between the homes and added to their price. It doesn't seem likely that the city would pick up that tab to help the developer make money.
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Why do people insist on making claims without looking them up first, do they really think no one will check? Proof by emphatic assertion rarely works.
Confirmation bias is real; I can find any number of articles that say so.
Victor, NY - Randallstown, MD - Yakima, WA - Stevensville, MD - Village of Hillsborough
Last edited by Bill14564; 01-07-2025 at 10:16 AM.
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