There are houses available, but a lot of people would rather rent.
One thing it doesn’t address is the cost of land. Around here, what was farm land a generation ago is selling for more than $100k an acre now for subdivision. By the time you add the infrastructure, streets, sewer, water, etc., you are looking at a cost of $75-$100k in lot cost, 1/4 acre, before you move any dirt for a house. That’s assuming you don’t have to do a lot of grading to put the infrastructure in.
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Yep. In my neighborhood, my house is valued at $420,000 and of that $225,000 is the land value.