Wealth of the populace reflected in houses

Many moan about decay and loosing ground and doom and gloom. Housing tells a different story. Carpe Diem reports New Homes Built Today Compared to the 1970s: More Square Footage, Baths, Garages, Central A/C .

A generation ago it was fairly common for new homes to be built with a single garage, single bathroom and no air conditioning, and today those types of new homes have become extinct. What are most common today are new homes with two or more bathrooms, two-car garages or bigger, central airconditiong, and 50% more square footage than new homes in the early 1970s.

In Reno, a realty blog says housing prices are holding at $103 per square foot (November median sold price, units, DOM, and $/sq.ft.). At median numbers, that’s a 1700 sq foot house for $175k. That means a generation ago the median house was close to 1000 sq feet. That’s a just a bit bigger than a single wide mobile home.

The features listed in the report are only the major items. New houses will often have better insulation, more efficient appliances and many other features and capabilities compared to houses from a generation ago. They represent a form of wealth that is often overlooked and just accepted and taken for granted.

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