AFFORDABLE HOUSING IS RELATIVE
A few weeks ago I wrote a post about the variation in housing costs among different regions in the country. I was reminded of that post by this report on the municipal government of Portland, Oregon, subsidizing the offering of condominiums for sale at the bargain price of $164,000. They sound like a bargain until you find out that the condos are 387 square feet. That’s $424 per square foot. That’s not exactly a bargain.
I haven’t checked it out, but I would bet that the average newly constructed house in Tucson costs less than half that much per square foot. And a new house in Tucson will have a yard, unlike those Portland condos. And no municipal subsidy to lower the price, either.
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