I’d agree with you, but the cost to build a house has more than doubled over the past 15 years. Even where land is cheap, the house isn’t. Look at my own house for instance. Built in 07. Bought in 2010 for $129k. Now it’s 15 years older, but it’s worth nearly $300k. My land is worth like $5k or so more than is was. All the rest is just house.