Housing is fairly cheap to build.
Plywood, wallboard, rotating knife lot clearing, Bobcats, nail guns, PVC pipe and other innovations and illegal immigration make construction costs very low.
RE: Housing is fairly cheap to build.
It’s not the house per se ... it’s the LOCATION.
Why are people paying close to a million bucks for a 700 square foot apartment in NYC when they could buy 4 houses 3 times the size of the apartment in Pennsylvania?
Answer: LOCATION