I don't know about this - when I see quotes on build cost in my area they add up to more than similar properties sell for in some cases, and generally aren't a whole lot different than buying to the point that I've wondered why it's like that.
People forget that houses tend to get bigger when people can afford it. Adam Smith observed this back in his famous book.
People forget that houses tend to get bigger when people can afford it. Adam Smith observed this back in his famous book.