After falling or remaining flat for three decades, real construction costs have increased sharply since the mid-2000s. The rise was driven by both material and labor costs. Construction costs are lowest in the South, and are highest in the expensive coastal cities and in remote locations like Honolulu and Anchorage. Material costs vary relatively little across cities, but … [Read more...]

This study was published jointly by BuildZoom and the Terner Center for Housing Innovation at UC Berkeley. Source: https://en.wikipedia.org/wiki/Coachella_Valley [dropcap]T[/dropcap]he Bay Area is undoubtedly at the forefront of a housing affordability crisis that is pricing a growing number of households--particularly lower-income households and households of color--out … [Read more...]

Domestic migration across U.S. metropolitan areas is selective: in-migrants to expensive metros tend to have higher incomes and educational attainment than out-migrants, while the opposite is true in the least expensive metros. This pattern contributes to the process of polarization across U.S. metros. It also helps sustain expensive metros’ housing price appreciation above and … [Read more...]