Source: https://ggwash.org In “The Great American Single-Family Home Problem,” New York Times reporter Conor Dougherty drives home the point that the high cost of housing in America’s expensive coastal cities can be addressed by densifying the suburban landscape. At first glance this may seem obvious; combatting price appreciation calls for building more homes, and … [Read more...]
Paying For Dirt: Where Have Home Values Detached From Construction Costs?
In the expensive U.S. coastal metros, home prices have detached from construction costs and can be almost four times as high as the cost of rebuilding existing structures. However, absent restrictions on housing supply, competition among developers tends to maintain average metropolitan home prices tethered to the cost of construction. This study estimates the average home … [Read more...]