Michigan Badger
Gold Member
- Thread starter
- #21
It costs about twice what a house is worth today to build it. An existing house that's $50,000 will cost up to a $100,000 (or more) to build new.
The thing that will eventually increase house values will be the need for more housing (saturation).
Right now there are plenty of empty homes for sale cheap. In our area there are more for sale than not. When they all get bought up the prices will begin to rise for existing homes (supply and demand). Eventually a new house will be a little cheaper than buying an existing one (like it used to be). The reason being avoiding the hassles of building plus location.
But the question is, when will the market swing the other direction? Today people are struggling with income, having to live with mom & dad (or share apartments or houses).
The thing that will eventually increase house values will be the need for more housing (saturation).
Right now there are plenty of empty homes for sale cheap. In our area there are more for sale than not. When they all get bought up the prices will begin to rise for existing homes (supply and demand). Eventually a new house will be a little cheaper than buying an existing one (like it used to be). The reason being avoiding the hassles of building plus location.
But the question is, when will the market swing the other direction? Today people are struggling with income, having to live with mom & dad (or share apartments or houses).