For example, here in S. Calif. my little 600 sqft condo ( 1 BR ) would sell in today's market for $150k. 30 months ago, the were selling for $300K. Fortunately I bought mine in 1990 for $70!
The point is, skilled labor cost a lot more here than it does somewhere where a fairly decent house can still be bought for $100. ( There ARE places like that, no????)