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> All this means is there are enough buyers who can afford 2,800 sqft houses to keep builders from wasting a lot on a 1,600 sqft house. So there's a limited su
by tbrownaw 11mo ago
> All this means is there are enough buyers who can afford 2,800 sqft houses to keep builders from wasting a lot on a 1,600 sqft house.
So there's a limited supply of lots (or of permission to use those lots).
- crossbody 11mo agoExactly. Zoning laws affect lot sizes, remove them as in Houston or most other countries and the problem disappears.
- Auracle 11mo agoRural America often doesn’t have “zoning laws”. That hasn’t stopped my home price from more than doubling since 2012.
- api 11mo agoThere’s multiple factors. Another is the zero interest rate era which inflated all asset prices. Money has been insanely cheap for a long time.
- crossbody 11mo agoZoning laws still influence rural prices! People fled expensive cities to more affordable rural areas due to city zoning, and that drove up prices in short term, as construction lags demand. Other factors (material costs, construction labor costs) had influence too