Comment by flubert | Hacker News Reader

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Comment by flubert | Hacker News Reader

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Compare:

$527k, 758 sq. ft. -- http://www.zillow.com/homedetails/611-Campbell-Ave-San-Franc...

$489k, 996 sq. ft. -- http://www.zillow.com/homedetails/126-Dolphin-Ct-San-Francis...

$588k, 1112 sq. ft. -- http://www.zillow.com/homedetails/1101-Fitzgerald-Ave-San-Fr...

$599k, 1284 sq. ft. -- http://www.zillow.com/homedetails/8831-Nestle-Ave-Northridge...

And contrast:

$510k, 4500 sq. ft. -- http://www.zillow.com/homedetails/15320-Swan-Ct-Gulfport-MS-...

$500k, 5225 sq. ft. -- http://www.zillow.com/homedetails/4534-S-162nd-Ave-Omaha-NE-...

$500k, 8200 sq. ft. -- http://www.zillow.com/homedetails/4417-S-Holmes-Ave-Idaho-Fa...

$565k, 5000 sq. ft. -- http://www.zillow.com/homedetails/1725-Burns-St-Detroit-MI-4...

Exactly, the it's the Land, not the structure. If the land is practically worthless, there's a ton of money left over to build on it.

The most telling in the prices you posted is that 758 sq. ft. house for 527k:

> Last sold: Jan 1973 for $25,000

That's $135,939.19 inflation adjusted to 2016 dollars. Where'd the remaining $390k of value come from (assuming house is in same relative shape.)

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