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Because your land is not valuable. While everyone else's was artificially inflated by flipping, and legitimately increased by higher populations in smaller areas, Oklahoma saw no spike in value.
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What planet are you on? take a look at Oklahoma county average real estate increases. I pay on several properties in 3 counties that I own. I know my real numbers and I also know what offers were made to buy my rental properties. Wish I had sold a couple last year to be honest!
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Home costs are based on land values, not building costs.
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-Again, what planet are you on? Labor costs are 50% the price of a new built home (I should know!), when labor prices increase or decrease it DIRECTLY influences the cost of homes. Labor prices are INCREASING even to this day in a terrible home building economy due to the REMOVAL of so many illegal aliens.
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And my point was that whether a city has a large immigrant population or NOT home prices have dropped, which means that the presence or absence of illegal aliens clearly had no effect.
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You are cluelss because I keep saying our home prices are NOT dropping! look it up online, sheesh! INCREASED labor costs are the ONLY reason our home prices have not dropped like the rest of the nation. Why are labor prices increasing? A shortage of cosntruction workers, DUH! Why a shortage? They are leaving our state either by force or no employer will hire them for fear of our new legislation!
You know, it does not take a genius to figure this out. This is very elementary economics and working in the industry, talking with builders, it's quite obvious what is happening. Builders are pissed at the price increases but they have no choice but to pay it for a slew of sub contracting professions.
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1. Building costs are not the issue. Building costs do not drive home values.
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--- Right, uh huh, sure thing man. Building costs have absolutely nothing to do with the final cost of a product. BRILLIANT!
I want to visit your world sometime.