“If builders would build smaller homes, maybe people could afford them.”
THIS!
In deference to builders, the permits are usually on a per home basis. And $50-70k in CA.
Builders build what people will buy.
Personally, I think the problem is simply that first-time homebuyers stubbornly want to live in the hipster, expensive areas where premium pricing will apply.
I have some sympathy with that. Just a few years ago, had this discussion with my daughter and SIL - now, their money, their choice. They’re responsible and they got a great rate (2.75 on a 30 fixed!). It’s a nice place and I would not deny I love the neighborhood.
However, I couldn’t help teasing a bit: At the price they paid? They could have bought an absolute mansion in Dayton, Ohio or Ft Wayne, IN or whatever.... Not that I wanted them to move further away, but I’m just saying. Daughter’s a doctor and SIL has a good job he can do remotely.
Like I said, it’s their money and they’re adults so they can make their own choices with it. But, I couldn’t help SMH.
THUD :: .... !!!
Preposterous.
Wow. If building permits are that high, I can understand why builders need to build larger, more expensive homes.