that the quality of construction of new houses over the past 50 years is poor when compared to the quality of homes built 50 years ago. basic systems, e.g. structure, roof, floors, windows, weather protection, HVAC, appliances, etc., are less reliable in many new houses today than those built 50 years ago.
why? the reasons are probably many--
- builder incompetence and greed
- decline in skilled labor
- government's failure to protect consumers
- consumer reticence
- a costly legal system that protects builders more than it protects consumers
whatever the reasons, the chart is clear--while productivity and quality of non-agricultural products have more than doubled over the past 50 years with advances in technology, productivity and quality in construction have declined, despite advances in technology. many who bought new houses in the past 50 years are left with fixing builder messes at their own expense--the ones that can be fixed--while the productivity and quality of new homes continues to decline.
what's the solution? I honestly can't tell you. It looks to me like the trends that are so obvious in the chart will continue--bad news for new home buyers--that's you and me.
