Prices of everything are through the roof (no pun intended). Lumber, sheetrock, plywood, wiring, plumbing, fixtures, heating & cooling systems, EVERYTHING! Bidenomics sucks, and I do not believe their stats. Inflation is much higher than what they want us peasants to believe. $450k is now the national average for a house. That’s not a 4 bedroom, 2 bath, 2 car garage place on a nice piece of property in a low crime area.
In N.J. .....Fuggedobowdit.
good data here:
https://www.nahb.org/news-and-economics/housing-economics/national-statistics/starts-and-permits
In our little town, a developer bought up some farmland at the edge of town. Those cracker boxes he’s building on 1/8 acre plots, if that, start at $336k. That’s more than we paid for our home which is larger and on 1-1/2 acres. Plus the construction of these homes is poor. Lots of façade materials.
When we were first starting out, these homes would’ve been around 95k. Granted that was 35 years ago.
My neighbor sold last month 3 bd 2 bth 1 car garage on a 6000 square. Ft. Lot 500k
We’re 7 miles from the beach in hollywood Florida