3 ms·
>> A house in 1897 cost the same as a house in 1997, adjusted for inflation. >It is hard to believe, given new technologies that are supposed to make it cheape
by jacobr1 9y ago
>> A house in 1897 cost the same as a house in 1997, adjusted for inflation.
>It is hard to believe, given new technologies that are supposed to make it cheaper.
I'm not sure if this is really true but it wouldn't surprise me. A "house" actually has more stuff these days. Structurally engineered lumber that will last longer. Inspections to ensure it will survive the disasters in $localArea. Larger square footage. Granite counter tops. Fancy HVAC systems that are increasingly more complex and higher efficiency. I bet on a per-square-foot basis house. Not to mention most the price of house purchase is the land-value, which is probably even higher than historical norms in desirable areas.