• htrayl
    link
    -15 months ago

    They are astronomical because we build too large. That accounts for the vast majority of home ownership cost increases. The average home size is up 230%+ from the 70s, or 300% per person.

    This makes up the vast majority of the difference in prices seen since that time.

    Other direct causes are that we add two or three car garages (30k+) and increased home construction standards ( which add cost up front but often save money long term).

    When looking at a price per area, the price is almost static (after accounting for inflation).