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Housing prices increasingly reflect labour costs, as those represent a higher percentage of the BOM year over year. North America has high wages and so the mini
by glitchc 3y ago
Housing prices increasingly reflect labour costs, as those represent a higher percentage of the BOM year over year. North America has high wages and so the minimum threshold for a new 2000 sq ft hovers around $250K, bulk of it being labour cost, the rest materials.
- flukus 3y agoProbably quite circular too, the labor costs are high because the housing/COL was allowed to become so high.
- DeathArrow 3y agoThis seems like a circle of inflation. High wages push prices up, which push wages up...
- codeadict 3y agoMy Latin American friends working in construction would not believe this, they are paid crap, and is the American construction company owner who pockets most of the money.
- glitchc 3y agoDepends on what they're working in. A certified plumber, electrician, furnace/gas, HVAC specialist, all command market rates set by tgeir associations. Tilelayers, bricklayers, carpenters and cabinet makers also have set rates. There isn't much left that's unregulated, perhaps framing, drywall/plaster, hardwood/vinyl flooring, painting and landscaping.