There is an article in today's WSJ on Sears kit-built homes that were constructed on the early 20th century. The one below in Chevy Chase, Maryland, cost $3,750.
The initial cost of the brick home below in the DC area was not given but it recently sold for $2,750,000.
geezertect
Sep 22, 17 8:30 am
Add three zeros to the initial price. Actually, the kit was only for the materials, not labor.
These were aspirational houses for the great American middle class. Today the aspirational houses are the McMansions even though the buyers may have a deep sense of unease about what they have bought by the time they move in.
In any event the average middle-class family would have a hard time paying the taxes on the $2.7 million dollar house even if they inherited it. Something is seriously and fundamentally wrong here.
wurdan freo
Sep 22, 17 9:26 pm
What cost $3750 in 1900 would cost $109669.44 in 2016... per the inflation calculator...not bad...
What was the square footage on the house?
Volunteer
Sep 23, 17 6:28 am
I believe most designs were from 1,600 to 2,000 square feet. A few designs were much larger. All designs that I have seen had full basements whose square footage is not included.
.
archinine
Sep 23, 17 7:17 pm
That increase in property value is rather incredible given wurdens inflation index. Inflation does not take into account the increased costs of labor, materials, regulatory red tape and land value correlated with increased scarcity in major hubs. But still what an enormous difference in real dollars.
There is an article in today's WSJ on Sears kit-built homes that were constructed on the early 20th century. The one below in Chevy Chase, Maryland, cost $3,750.
The initial cost of the brick home below in the DC area was not given but it recently sold for $2,750,000.
Add three zeros to the initial price. Actually, the kit was only for the materials, not labor.
What do you mean?
https://searshousesinohio.word...
These were aspirational houses for the great American middle class. Today the aspirational houses are the McMansions even though the buyers may have a deep sense of unease about what they have bought by the time they move in.
In any event the average middle-class family would have a hard time paying the taxes on the $2.7 million dollar house even if they inherited it. Something is seriously and fundamentally wrong here.
What cost $3750 in 1900 would cost $109669.44 in 2016... per the inflation calculator...not bad...
What was the square footage on the house?
I believe most designs were from 1,600 to 2,000 square feet. A few designs were much larger. All designs that I have seen had full basements whose square footage is not included.
.
That increase in property value is rather incredible given wurdens inflation index. Inflation does not take into account the increased costs of labor, materials, regulatory red tape and land value correlated with increased scarcity in major hubs. But still what an enormous difference in real dollars.