Quote:
Originally Posted by zalf
A huge fraction of people make housing decisions not based on what they want for themselves, but through the lens of what some imagined future buyer wants
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This is super interesting, and a side effect of the state of the housing market.
Housing is increasingly unaffordable, and HGTV type entertainment has popularized the idea that the way to get into the housing you want is to buy, renovate, and sell your way up the ladder.
And, of course, house equity is a giant part of people's net worth (and in many cases is their primary investment vehicle). The massive appreciation of house prices and favourable tax treatment (no capital gains on your primary residence) mean that for many, their house is basically a retirement plan that they happen to live it.
So, people see their houses as about creating and maintaining a saleable product rather than a place that reflects their own tastes.