4 ms·
Take a look at the lumber market. The cost of building materials has been shooting up for the past 10 years. I believe houses are getting more expensive becau
by xwkd 8y ago
Take a look at the lumber market. The cost of building materials has been shooting up for the past 10 years. I believe houses are getting more expensive because returns on new builds come with much higher risk.
It’s cheaper to recycle the existing real estate market.
- sjg007 8y agoMaterials, labor and everything cost more today. 2008 wiped out a good portion of home builders / construction workers. Also basically nothing got built for 5 years until house prices recovered. Also factor in a high COL area and you can't really buy for cheap either the the land or the build.
- rb808 8y ago> 2008 wiped out a good portion of home builders / construction workers. In the US/Ireland/Spain maybe, in most countries house prices didn't fall - they rose with the low interest rates.