3 ms·
Construction is a very small part of housing costs. Outside of rural areas, much of the cost is speculative or supply/demand.
by aqme28 6y ago
Construction is a very small part of housing costs. Outside of rural areas, much of the cost is speculative or supply/demand.
- imtringued 6y agoConstruction is a big part in some locations but it doesn't make housing unaffordable, merely expensive. From memory: Tearing a $2 million single family house and putting 6 apartments there would allow you to charge $3k rent. Build taller and rent drops even lower. This is assuming construction costs of $500 per sqft.