• OneWomanCreamTeam
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    9 months ago

    Space isn’t the issue here. We have more empty homes than we have homeless people.

    Prices aren’t astronomical because we’re running out of space.

    • htrayl@lemmy.world
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      9 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).