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.