I am a concrete contractor. We do about 60 or 70% residential construction. The houses in one of my subs 3 years ago were 350 to 400k. They now start at 800k and go to over a million. These are homes with real wood trim, big entry ways with expensive oak doors, transoms and sidelights and 3 car garages on 1/4 acre lots and a lot of walkout basements. Much brick. About 2200 to 2600 SF. When the basement is finished out pushing 3500 SF. These are most usually sold to established two income professional families.
Another sub is in a more rural setting and made up of what is usually called starter homes. Two or 3 years ago these went for about 170k. They are mostly sub 2000 SF with an unfinished basement, 2 car garage and the cheap faux wood trim and metal doors. All vinyl, no brick. Maybe some cultured stone 3 feet up on the front. These run near 400k.
Yes the housing market is out of whack.
I built my 4000 SF house with walkout basement, polebarn, inground pool, water feature, 1000 SF wood deck over a 1000 SF patio on 60 acres of pasture/farm fields/woods/pond with 3 out buildings for the wifes animals in 1991 and paid around 400k ( I did do all the concrete work myself saving 100k anyway). The land my house sits on would cost double that today easy.
I am a concrete contractor. We do about 60 or 70% residential construction. The houses in one of my subs 3 years ago were 350 to 400k. They now start at 800k and go to over a million. These are homes with real wood trim, big entry ways with expensive oak doors, transoms and sidelights and 3 car garages on 1/4 acre lots and a lot of walkout basements. Much brick. About 2200 to 2600 SF. When the basement is finished out pushing 3500 SF. These are most usually sold to established two income professional families.
Another sub is in a more rural setting and made up of what is usually called starter homes. Two or 3 years ago these went for about 170k. They are mostly sub 2000 SF with an unfinished basement, 2 car garage and the cheap faux wood trim and metal doors. All vinyl, no brick. Maybe some cultured stone 3 feet up on the front. These run near 400k.
Yes the housing market is out of whack.
I built my 4000 SF house with walkout basement, polebarn, inground pool, water feature, 1000 SF wood deck over a 1000 SF patio on 60 acres of pasture/farm fields/woods/pond with 3 out buildings for the wifes animals in 1991 and paid around 400k ( I did do all the concrete work myself saving 100k anyway). The land my house sits on would cost double that today easy.