7 ms·
If construction costs explain the high price of bay area housing, how is it possible that houses in the midwest are produced at less than 1/5 the price? Are the
by arebop 10y ago
If construction costs explain the high price of bay area housing, how is it possible that houses in the midwest are produced at less than 1/5 the price? Are the Kansas guys with hammers really making 1/5 the wages of the California hammer swingers?
- woah 10y agoMaybe the California hammer swingers have to pay higher rent.
- honkhonkpants 10y agoConstruction costs do not explain housing prices, but construction costs do explain which developments are undertaken and which are not. Consider that construction costs are basically the same in Oakland and San Francisco, but prices are higher in San Francisco, it makes little sense to develop in Oakland. The profits are simply not there.
- mkhpalm 10y agoIts almost 1/3rd last I checked. But thats not everything you pay a difference on when you build something. The high cost of living and many other things in the bay area factor into everything.