Starter houses are sometimes modest in worth and below 1,400 sq. ft. These models accounted for 40% of latest residential building in 1982, and simply 9% in 2023. Economists say starter houses are disappearing as dwelling builders take care of rising prices for land, labor and supplies whereas navigating more and more thick layers of regulation. Because of this, many new houses are for high-end consumers in additional distant places. In the meantime, the age of the first-time purchaser rose to 38 from age 29 in 1981.
Source link