Monday, September 14, 2009

The one lesson of real estate development

Build houses that people want to live in. If instead you build housing for investment demand, you are going to get burned:
Median household income hasn’t grown over the last decade, but average house size has. The average square footage of a new single-family home in the U.S. has gone from 1,660 square feet in 1973 to 2,215 square feet in 2008.

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