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Another explanation is that the average new house costs more than it used to. Housebuilders have chosen to build bigger homes at a higher finish level because
by randcraw 4y ago
Another explanation is that the average new house costs more than it used to. Housebuilders have chosen to build bigger homes at a higher finish level because there's more profit in it. New affordable housing is becoming rarer.
- evv555 4y agoAnother factor here is the rising costs and complexity of zoning/permits. In my area it will cost you 6 figures just to put down a foundation with the paperwork. This puts a floor to how cheap a house can be and what is financially viable to build.