Higher nominal housing prices would improve economic efficiency, and the costs of construction are an important determinant of housing prices.
The chart below shows how construction costs stopped falling in the first half 2009, but that the increase since then has been minor. Today's BLS estimate of Jan 2010 construction costs did not add to the increase.
The chart below shows how construction costs stopped falling in the first half 2009, but that the increase since then has been minor. Today's BLS estimate of Jan 2010 construction costs did not add to the increase.
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