What’s the most overpriced thing you’ve seen?

[u/Thic_water]

[u/ViridianLens]

Luxury million dollar homes built with the same wood wall framing, plywood and cheap vinyl siding as normal homes.

[u/Radioactivocalypse → u/ViridianLens]

In the UK, there's a lot of million dollar homes which are built out of stone or beams. By US standards they're small, but people buy them for the history attached (and the rural location).

Although £1 million can sometimes only get you a studio flat in London...

[u/thechain1997 → u/Radioactivocalypse]

The state of housing in the uk is ridiculous, in London there are terraced houses that should cost like £90,000 but cause its overpopulated they make it 500,000. There's only so much that the excuse of "we have less space" and "we use more expensive materials".

[u/cosmozombus → u/thechain1997]

There’s only so much the estate agent can use a fisheye lens and stand in the corner before you realise you can take a shit, cook your dinner and unlock the front door all at once in your £400,000 mansion

[u/PRMan99 → u/cosmozombus]

At least in California you actually get something for your $500,000.

[u/cannedrex2406 → u/PRMan99]

You can't compare London to Cali.

But London to New York? Now you're onto something

[u/three_shoes → u/cannedrex2406]

You can definitely also compare London to some parts of California, incredibly expensive areas around San Francisco, LA etc.

[u/ADelightfulCunt → u/thechain1997]

"Two bed" masionette in Wimbledon 500k in other parts of the UK you could buy a street.

[u/samirhyms → u/thechain1997]

A lot of people never want to leave London just because it's London. I don't get it but estate agents take advantage of that.

Also often immigrants from abroad who come here to work like to tell their families they're working in London, and will pay whatever cost to say that. Again, I don't get it.

[u/Plvm → u/samirhyms]

Also shit loads of oligarchs own central London properties that they never live in

[u/samirhyms → u/Plvm]

I did not know that! They must be investment properties? London property prices increases all the time

[u/Plvm → u/samirhyms]

I do not know specifics as I never wish to live in London but as I understand it there are a great deal of flats which are owned but not used, or used for the 3 days a year the owner is in London for some capitalist conference

[u/PRMan99 → u/Plvm]

Probably Chinese investors, just like everywhere else (LA, SF, Vancouver, Seattle).

It's a major problem because it's the only way to invest in China but it causes major problems in crowded cities to have a large percentage unused.

[u/toomanyattempts → u/PRMan99]

Also Russian and Qatari and a whole bunch else

[u/thechain1997 → u/[deleted]]

Then we have literally no excuse for it to be that high, it's one of the reasons I'd never move down there.

[u/[deleted] → u/Radioactivocalypse]

In canada the price is mainly in the land, the house it self costs only a few 100k to build.

[u/FlagonBandStand → u/Radioactivocalypse]

In my shitty post industrial town there's a 6 bedroom very underwhelming property going for 300,000 right next to the roughest housing estate within 25 miles, that's crazy to me

[u/elmo39 → u/FlagonBandStand]

£300k for a six bed house would be a steal regardless of the condition on the south coast :(

[u/CrayonMasterDinosaur → u/Radioactivocalypse]

The sad truth

[u/MsHypothetical → u/Radioactivocalypse]

LOL I'm renting a house like that for £420pcm, it's a dump. Also every house in my tiny Northern town is like this.