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I think a bucket of chicken should cost more than a car. Do you know what goes into hatching a raising a chicken and how long it takes before you can fry him up? A lot more than just some robot on an assembly line welding metal, that for sure.
I did pay just over $300,000 for our home and I have a couple friends that own cars that cost just over $300,000. Imagine that, a car that cost more than a house. You can bet that these friends don't live in the same neighborhood that I live in.
It is popular these days to say that cars cost more than a small house. My view is they should cost even more. Just think what goes into making cars today and compare it with a bunch of 2x4s and a box of nails that anybody can hammer together. You can’t pile on a bunch of day workers in the back of a truck to build you a jewel like this. The engine is the most visible part. Every piece that goes into a modern car is a marvel of engineering that requires unique skills and expensive equipment to make. What goes into a house? Wood, concrete, asphalt shingles, doors and windows, drywall, paint... you get the point.
Umm, the land my house sits on is valued at $400,000. How's that for an answer as to why houses are more expensive than cars? When you buy a house, you also have to buy the land that it sits on.
As for the house itself, in addition to materials there's something called labor. Let's say it takes 5,000 hours to build a house (3-4 men, 40 hours per week, 8 months). A subcontractor makes $20/hr in my area, so that's $100,000 worth of subbed labor right there, plus the $50,000 profit the GC will make on a 8-month project. That brings us up to $550,000 for just land and labor. No materials. There's a reason why new construction is so expensive!
you can buy a house for next to nothing in detroit if you want
when you buy a house a lot of that money is paying for the land not the materials to make the house
you can buy a house for next to nothing in detroit if you want when you buy a house a lot of that money is paying for the land not the materials to make the house
Depends on the area. In my area, 1 acre of land goes for between $30k-$65k. A nice 2500 sq.ft. home with decent amenities costs around $250k-$270k.
So the local market dictates the price of land just as it does the house that sits on it.
Materials are a huge portion of the expense.
Cars depreciate much faster than a house because they wear out much faster than a house degrades due to the moving parts. One could reasonably expect a house to remain standing for 30-40 years with minimal maintenance whereas no vehicle is going to last that long if used every day, regardless of the maintenance performed. When the cost to keep something going overcomes the cost to replace it, then it is usually replaced.
Cars are consumables. You buy them, use them up, and discard them for a new model. Houses are completely different. Kind of an apples to oranges comparison.
Someone actually asked this question? Using the OPs argument, you can also just buy car parts and build a working car yourself. A house has so much raw materials and many subcontractors doing work, not to mention the land.
A lot goes into building a house that people don't understand. just look at those remodeling costs or things like adding a screened in porch!
Last edited by RVcamperturbo; 08-11-2016 at 08:22 PM..
It is popular these days to say that cars cost more than a small house. My view is they should cost even more. Just think what goes into making cars today and compare it with a bunch of 2x4s and a box of nails that anybody can hammer together. You can’t pile on a bunch of day workers in the back of a truck to build you a jewel like this. The engine is the most visible part. Every piece that goes into a modern car is a marvel of engineering that requires unique skills and expensive equipment to make. What goes into a house? Wood, concrete, asphalt shingles, doors and windows, drywall, paint... you get the point.
Cars definitely should cost more than a house. You can always live in your car but you can't drive your house.
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Absolutely!
