If one was freely able to move about the entire world you may have a point. Especially given current events, I am not sure the country in which that house is located would take kindly to many of us moving there. In a more practical reality you're not going to find anything for anywhere close to that price even in the middle of nowhere, never mind somewhere where everyone wants to live. That is where earlier comments suggest building more housing would help.
Except it is not clear who can afford new construction either. It is even more expensive.
> That is where earlier comments suggest building more housing would help.
I explained earlier why I don't think it would. The places with a housing "shortages" are the places where everyone wants to live. Those places would have to build an impossible number of houses to affect demand.
You have people saying they can't afford housing and then, when you show them they can, they say, "not there..."
> Those places would have to build an impossible number of houses to affect demand.
If houses were able to be built freely then everyone would be able to build a house... Except, if you can't afford a used house, you most definitely cannot afford a new one. As before, time and materials are the real killer. The used housing market is merely a reflection of the cost to build new. Same reason used cars have risen so high in price in recent years: Because new cars have even higher prices.
> You have people saying they can't afford housing and then, when you show them they can, they say, "not there..."
The trouble is that you confuse affordability with sticker price. I technically could live in that house for six months before I have to return back to my home country, but I could not legally work during that time. It is far more affordable to pay significantly higher prices in my country for a house and work all year long. The price of that house is low, but the cost is very high.
The places everyone wants to live are the places everyone wants to live because they are the most affordable places to live. If it were cheaper to move somewhere else, the people would have moved there already. Humans love to chase a good deal and carve out an advantage for themselves. However, a low price doesn't mean cheaper.
Land is more or less worth the same whether it has a used house on it or if you build a new house on it. The trouble remains that the high cost of new construction anchors the cost of used houses.
Except it is not clear who can afford new construction either. It is even more expensive.