Posted on 10/31/2022 8:40:33 AM PDT by millenial4freedom
Once upon a time, nearly 70% of all new builds were starter homes — single-family houses with 1,400 square feet or less that started at $6,990. But that was in the 1940s. Fast forward to 1980 and that share fell to 40%. Then, in 2019, the U.S. Census Bureau reported that a mere 7% of all new homes were represented by the small, entry-level homes that are affordable for first-time buyers — and the prices aren’t even remotely similar.
(Excerpt) Read more at mishtalk.com ...
Yeah but you can damn sure get a loan and then hope the govt will dismiss it years from now.
I’m guessing the tens of millions of illegal aliens are having an impact on housing costs as well as wages.
The decline in all areas of American Life and Freedom can be explained by three things: Too many laws, Too may regulations, Too much government control (local, state and Fed).
Land price, land use restrictions, zoning, building codes, “amenities” all contribute to price bloat.
We are not building 1,000 sq ft Box in the Dirt on parcels that cost $250K-$800K.
Start building small, affordable homes again instead of McMansions.
Problem solved.
Good. Let the little commies live in their parent’s basement. Eventually, they’ll realize the error in their ways... or they won’t. At this point, I don’t care. I am just trying to have as good a life as possible and exit before the little commies make this country unlivable. And they will.
And states with property taxes love larger homes.
More to tax.
FWIW-
Saw a great MEME the other day-
Man was denied a mortgage with a $900 payment, so he had to get a $1,850 a month apartment.
That’s about right
.....and the destruction of the currency.....
The land/lot is too expensive now to put a small starter home now in almost any place in the country.
A buddy of mine is a small real estate developer in southern NH. A small subdivision he did a couple years back was almost $1000/ LINEAL FOOT to put the road in with underground utilities, drainage site work, paving, etc.
He sold the first lot for $80K. There is one lot still for sale by someone who bought it on spec. They are asking $175K for the lot. The houses ended up being in the $725-$850 or more when done.
The only starter homes now are in the form of townhouses/condos/cluster developments. These are done by major real estate developers. They are planning one about a mile south of my current house. They are planning on building 60 town houses. The company doing them is owned by a major commercial real estate developer. He is on the board of a couple local banks. In fact one of the banks he is the largest depositor.
There are several companies that make homes in factories and sell them as kits.
Producing standardized items in a factory is one way to drive down costs.
Not everyone needs or wants a custom home.
Handwringing over the cost of homes, even starter homes is the start of a more cringing and political narrative.
I remember back when Barney Frank and that Maxine Waters coerced banks to loan money to those leftists felt were owed something.
They browbeat that coward W into going along and what we got were Credit Derivatives that nearly destroyed this country.
Just because you are black, an immigrant (illegal or not) or schemer who can spot the flaws in these programs and can take advantage of them doesn’t mean the entire American economy should subsidize you one bit. Work! Save your money or do the work and build it yourself.
“states with property taxes love larger homes”
Yes, and no. The issue is that large home contains 4 or 5 bedrooms. Which is great if those 4 kids end up in private school. However, if they go to the local public school system it costs around $7-$10K/pupil/year to “educate” them.
The best real estate development from a low cost to the town perspective is the 55 and over communities. Meaning, No kids allowed. Especially if those communities are considered a private drive. That way the town does not even need to plow snow or maintain any of the utilities like water/sewer.
Many of these developments are used seasonally too. The folks go to their Florida home in the winter.
“The only starter homes now are in the form of townhouses/condos/cluster developments.”
Condos and townhouses are great for people who are growing old and looking to retire. I wish they were available in our area but they are not.
Every single suburb has zoned out condominium development and the only thing that can be built are single family homes and at least half an acre lots.
If you want a condo you have to go to the middle of the city where you will be bombarded with gay and trans flags, family friendly drag shows and parades (that is conservatives wouldn’t belong there).
And most say no.
I knew of a developer who was trying to build small (not tiny) houses of about 1000 square feet on quarter acre lots. Big enough for starter homes and empty nesters. He had an entire community planed out with a C store and a few other small businesses. It had sidewalks, a park and the whole kit and caboodle.
He was denied permission to build it.
It would not bring in enough taxes.
I wonder if house moving will make a comeback. My grandparents’ house has been moved at least twice. There are homes out in rural America that could be moved to a different lot, nearer to jobs.
“Start building small, affordable homes again instead of McMansions.”
The numbers just don’t work.
Land is expensive.
Permits are expensive.
Zoning bans a whole bunch of economy measures.
Building permit requirements prohibit a bunch more.
“The best real estate development from a low cost to the town perspective is the 55 and over communities. Meaning, No kids allowed.”
In our area they build these developments—but because we are in a colder climate there are not enough old timers sticking around to buy them.
Then the developer has to bribe city officials to get permission to amend the zoning—and miraculously the signs start to appear—”families allowed”....
Hope the remaining old timers enjoy children....
(Can you say “bait and switch”?)
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