Quote:
Originally Posted by candyflip
This house, where I live (less than 60 miles from Canadian border) would cost around $200k to build on a lot 2-3 times the size.
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Location, location, location. It is what has always driven real estate prices (occasional necessary corrections aside) and what always will.
The reason you can build that house for $200k on a lot 2-3 times the size is because not enough people want to live "less than 60 miles from the Canadian border."
That same house in a DC suburb would be pushing $700k, or more. Because there is not enough land for all the people that want to live within 20 minutes of the White House.