but a household doesn't buy square feet, they buy/rent homes. It seems likely that a smaller apartment/condo would be cheaper than a house that is much larger, even if the per sqft price is higher.
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Yes, exactly.
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BTW it turns out our supply glut in Seattle is actually lowering rents. However even with the 4th fastest dropping rents we aren’t going to be back to 2010 prices any time soon. https://www.seattletimes.com/business/real-estate/amid-building-boom-1-in-10-seattle-apartments-are-empty-and-rents-are-dropping/ …
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