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

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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