'Builders waited so long to buy land that, when the recovery happened, it was very strong and they got caught short. The cost of land is nearly 22 percent of the final sales price of a new home, and 100 percent of that cost usually gets passed down to the buyer. 'The run-up in land prices has been huge. What someone paid for land last year may not even work today, read more.
Thursday, April 17, 2014
Lot Shortages Make Building Costs Higher
Lot Shortages Make Building Costs Higher
'Builders waited so long to buy land that, when the recovery happened, it was very strong and they got caught short. The cost of land is nearly 22 percent of the final sales price of a new home, and 100 percent of that cost usually gets passed down to the buyer. 'The run-up in land prices has been huge. What someone paid for land last year may not even work today, read more.
'Builders waited so long to buy land that, when the recovery happened, it was very strong and they got caught short. The cost of land is nearly 22 percent of the final sales price of a new home, and 100 percent of that cost usually gets passed down to the buyer. 'The run-up in land prices has been huge. What someone paid for land last year may not even work today, read more.
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