6 ms·

To be sure. But let us double cost to make the house bigger and double it again for the lot, labor and electric. You are still at $188,340.8. Let us double i

To be sure. But let us double cost to make the house bigger and double it again for the lot, labor and electric. You are still at $188,340.8. Let us double it again for Nest thermostats and turret mounted gatling guns and you are still under 400k. Something happened.

Turing_Machine 10y ago
I already told you what happened. The maximum loan guarantee under the GI Bill was $2,000 (in their dollars) 4x the cost of your Sears house is $13,964 (also in their dollars). The buyers preferred a house that they could afford to one they couldn't. Simple as that.
TylerE 10y ago
$200k buys a lot of house in the vast majority of American cities in 2016.
- carsongross 10y ago
  That's a reasonable point, California is crazy and perhaps coloring my views.
  - nommm-nommm 10y ago
    The median price paid for a new home in Aug 2016 the US is $284,000 and the average is $353,600. https://www.census.gov/construction/nrs/pdf/uspricemon.pdf https://www.census.gov/construction/nrs/pdf/uspricemon.pdf
- flubert 10y ago
  Let's see what we can do for one tenth that amount: 1,400 sqft -- http://www.zillow.com/homedetails/263-W-Ramsey-St-Pembina-ND-58271/2104033409_zpid/ http://www.zillow.com/homedetails/263-W-Ramsey-St-Pembina-ND... 750 sqft -- http://www.zillow.com/homedetails/705-W-Douglas-St-New-Douglas-IL-62074/4922890_zpid/ http://www.zillow.com/homedetails/705-W-Douglas-St-New-Dougl... 1,718 sqft -- http://www.zillow.com/homedetails/5-Allen-Ct-Stewartstown-NH-03576/99274646_zpid/ http://www.zillow.com/homedetails/5-Allen-Ct-Stewartstown-NH...
maxerickson 10y ago
You can totally build a lavish 3000 square foot house for 400k in most of the US. (the median price of new homes sales is about/under $300,000 https://www.census.gov/construction/nrs/pdf/uspricemon.pdf https://www.census.gov/construction/nrs/pdf/uspricemon.pdf )

Turing_Machine 10y ago

I already told you what happened. The maximum loan guarantee under the GI Bill was $2,000 (in their dollars) 4x the cost of your Sears house is $13,964 (also in their dollars). The buyers preferred a house that they could afford to one they couldn't. Simple as that.

TylerE 10y ago

$200k buys a lot of house in the vast majority of American cities in 2016.

carsongross 10y ago
That's a reasonable point, California is crazy and perhaps coloring my views.
- nommm-nommm 10y ago
  The median price paid for a new home in Aug 2016 the US is $284,000 and the average is $353,600. https://www.census.gov/construction/nrs/pdf/uspricemon.pdf https://www.census.gov/construction/nrs/pdf/uspricemon.pdf
flubert 10y ago
Let's see what we can do for one tenth that amount: 1,400 sqft -- http://www.zillow.com/homedetails/263-W-Ramsey-St-Pembina-ND-58271/2104033409_zpid/ http://www.zillow.com/homedetails/263-W-Ramsey-St-Pembina-ND... 750 sqft -- http://www.zillow.com/homedetails/705-W-Douglas-St-New-Douglas-IL-62074/4922890_zpid/ http://www.zillow.com/homedetails/705-W-Douglas-St-New-Dougl... 1,718 sqft -- http://www.zillow.com/homedetails/5-Allen-Ct-Stewartstown-NH-03576/99274646_zpid/ http://www.zillow.com/homedetails/5-Allen-Ct-Stewartstown-NH...

maxerickson 10y ago

You can totally build a lavish 3000 square foot house for 400k in most of the US. (the median price of new homes sales is about/under $300,000 https://www.census.gov/construction/nrs/pdf/uspricemon.pdf https://www.census.gov/construction/nrs/pdf/uspricemon.pdf )