Reply to Middles Class: $381K is the NEW $100k, Six Figures is no longer Suceessful based on analysis

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[quote=Anonymous][quote]    Subject: Middles Class: $381K is the NEW $100k, Six Figures is no longer Suceessful based on analysis  
Anonymous

Anonymous wrote:
Thanks to the pp who posted this link: http://www.census.gov/const/C25Ann/sftotalmedavgsqft.pdf

Dd anyone notice WHERE the biggest houses are being built? Not the south or Midwest (um, Texas) , as we'd like to believe. The average home build size in the Northeast was the largest in the US in 2010. 2,600 sq ft. Interesting.

Good observation. My guess is that this has to do with the affordability of new build in the NE. In other words, in the NE, new build is more expensive and therefore larger homes. In Texas or on the west coast people can buy new build for 250-500K so there is demand for 'affordable' new build as well as McMansions. That doesn't exist in DC unless you count Herndon.[/quote]

Exactly. If a developer is going to bother to build new with the expense of land here and other NE corridor cities, they are not going to build 2000-SF houses, they're going to build McMansions to maximize profit. Same with an individual investor who buys a 1500-SF tear down on a quarter-acre lot. If they're going to build new, they're going to build something giant.[/quote]

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