Indeed. We also acquired a lot and are getting bids to build a modest 3 bedroom house for us and two kids. People saying “build more” seem to be under the impression that construction labor and materials are cheap and we’re just refusing to do it.
It’s going to take decades to get out of the system we’ve built for ourselves with sprawl and the automobile. Until it’s possible to build in volume and cheaply you won’t see prices go down because there so much pent up demand.
One more innocent question: Should our state build enough houses just for existing population or for all South America population too?