That pretty much summarizes the reason we do not see small affordable priced homes being constructed.
Never mind that housing is a necessity and America’s new wages do not allow for even a modest apartment rental, but if you qualify, which you likely won’t any, based upon your income, the builder and bankers have already picked out your brand new house whether it’s what you really want or not.
Your brand new house will likely be 1800 square feet, 3 bedrooms, 2.5 ceramic baths, an attached 2+ car garage and a partial basement. Your mortgage payment will be amortized over 30 years and if you last that long, you will have paid 4 times the purchase price of the house in juice alone back to the bank.
What if, one the other hand, you wanted a more sustainable lifestyle and not a lot of debt. What if you wanted a small house of 200 square feet with a porch. Shouldn’t you be able to obtain a home like that if you choose without restrictions put into place to make banks and builders more profitable ?
Everyone needs a place to live. The high cost of rentals and housing is contributing to homelessness and poverty.