I agree with your analysis of the generalities regarding housing development, however, my question was not directed toward the feasibility of a large, sprawling subdivision but more toward the reason that there are no alternatives for a median income family (or single person) with regard to a home purchase. I would certainly think that if an option were available, many folks would opt to own a new home versus a home built 30 years ago (although older homes do have their benefits, as Amorette pointed out).
Without being a real estate expert, it sure seems that there are a large number of homes being sold in this market (just look at the "sale pending" list on the various realty websites in town). With that being the case, why hasn't someone built a few median-priced new houses to compete with the existing home resale market? Is there lack of potential personnel? (All I hear around here is the lack of jobs). Is it the lack of potential buyers? Is it the inflated cost of materials due to our seclusion? Like Amorette stated, it has been twenty-some years since new homes (obviously there's been some) were built here! That seems very unhealthy to any economy, even in Miles City.
Amorette, I also agree with your view on OLD homes (built in the early 1900's) but the homes I think most people buy are the "tract" homes or McMansions of the 60's and 70's. Regardless of the "charm and fun" of remodeling one of these homes, there have been significant technological advances in efficiency, etc. that will never exist in them that do exist in a new home. Not to mention the costs of the actual remodel, which in many cases probably exceeds the purchase price. And finally, there is a certain exhilaration in walking through(not to mention owning) a brand new, never-been-lived-in house. It just seems a shame that many people around here will never be able to experience that feeling; or should I say, they will have to LEAVE to do so.