Quote:
Originally Posted by 4 for Boating
I think at this immediate moment the cost per square foot is even higher than $300. More like $325 to $350. Which I agree - hard to comprehend how someone justify/afford a 2,500 square foot home for ~$875K but such is the case. I wish no harm to anyone or any business but if we do not see some sort of economic downturn or a crash in the housing market where builders are desperate for work (which is NOT right now) we may not see $200 sq/ft for a long time.
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In theory, high prices should draw more (builders) into the market, leading to lower prices. At this point, we are paying people, in a sense, to not work, so they aren't moving to other industries. It's like the gov't paying farmers to not plant so that prices will be artificially high.