"We would love to build more affordable starter homes, but when high-end homes cost the same to build and are far more profitable, we lose the incentive to build smaller units,” said Isaac Stocks of Azure Northwest Homes, a Seattle-area home builder.
That sums it up.
Plus, more expensive homes means more property tax revenue, so there's little incentive for state/local gov to encourage lower end housing.
Finally, it would help to know about financing. How willing are banks to issue loans at the lower end?
The whole system is "tuned" for larger more expensive houses. It works for those it works for, and doesn't for those with little to none socio-political clout.
That sums it up.
Plus, more expensive homes means more property tax revenue, so there's little incentive for state/local gov to encourage lower end housing.
Finally, it would help to know about financing. How willing are banks to issue loans at the lower end?
The whole system is "tuned" for larger more expensive houses. It works for those it works for, and doesn't for those with little to none socio-political clout.