What in the dystopian hell?! 350-square-foot tiny homes…
“You can rent the homes out, cover your mortgage, and get income each month,” he notes. “Those homes can be leased out for a minimum of $1,300 a month.”
Mata says investors rushed in from all over the country, especially from California.
Goddamn. And what mostly kills me about “tiny homes” is that, like… prefabs exist! Mobile homes exist! They’ve existed for a long time! But the cultural divide and associated stigma that has been cultivated by dipshits like David Brooks and his ilk has led a huge number of people to believe they’re too good for “trailer” living, so they opt to pay thru the nose for very little additional benefit.
Mobile homes and manufactured homes (depends what kind) don’t appreciate in value in the same way conventional construction homes do. They act more like cars and trucks in a purely financial sense, in that they lose value pretty rapidly.
Home ownership is one of the last remaining vehicles of generational wealth available to most people. There is indeed prejudice around living in a “trailer”, but many more would do so if they acted more like other real estate in a financial sense.
There are other issues too, like lack of repairability, having to get custom-fitted appliances/HVAC and the overall lack of durability. I definitely understand the appeal for those who can’t afford something else, but categorically they are temporary housing and will be very expensive to maintain in the long run without any of the added financial benefits that come with owning a conventional home. And that’s not even covering the topic of lot rent.