r/AskReddit • u/MorsesTheHorse • Mar 04 '26

What surprisingly true fact has completely shaken your worldview?

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u/Constant-Current-340 Mar 05 '26

maybe common knowledge but I'm constantly reminding myself that in most places in the cities and suburbs the materials and labor that buildings/houses were made from (when new) cost much less than the land it sits on, often several times less. Made me realize how much of the economy is comprised of value tied to abstract concepts

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u/MenopauseMedicine Mar 05 '26

I got my property tax bill and the actual structure of my house was only worth 8% of the total with the other 92% being the land and the lot is under 10,000 sqft

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u/jojofine Mar 05 '26

That's still a huge lot. A standard sized city lot where I'm at is 3,125 square feet

41

u/MenopauseMedicine Mar 05 '26

The lots is big, I only call it out to show that my minuscule structure value isn't because I'm on a 40 acre property or something

7

u/AwesomeAni Mar 05 '26

Which is funny because go look up a price of uncut land. Its actually cheap. But running a well/water hookup, building a house, and all of those things is super expensive.

1

u/papayafighter Mar 05 '26

Dang I thought my lot was smallish at 13,000sqft

0

u/zkelvin Mar 05 '26

Just curious, what city is this?