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re: The math for buying a home no longer works, per WSJ
Posted on 12/21/23 at 2:06 pm to hubertcumberdale
Posted on 12/21/23 at 2:06 pm to hubertcumberdale
quote:
Average home cost in 2003 = $198,000 Average home cost in 2023 = $431,000
A huge chunk of this is people wanting more and having no clue what they can afford, and builders building it for them.
I just saw a commercial for a home about 60 mins from me that was a new build for 1900 sq ft and $250,000. Nothing immediately around me is being built for under $500k. Those lots don’t cost $250k, it’s land and builders profit for the most part along with more expensive grade materials.
The point is, everyone wants to blame inflation. Nah. Cheaper shite can be built. Its choice, it’s all choice.
1
Posted on 12/21/23 at 2:10 pm to baldona
looks like average home sizes have been decreasing over the last ~10 years
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