[zdragnar]

This is only partly true. Home values have skyrocketed due to near zero interest rates- people can buy more home when paying less in interest, so more people can buy.

Where I live, this has resulted in long wait times for contractors, shortages in materials (lumber more so than most) to become significantly more expensive, and- as you mentioned- land priced jumping up quite a bit.

Also, even if you intend on living in the house, states vary. Between MN and WI, one allows plumbing, the other allows electrical, but neither allows you to do both (I forget which is which).