[Nickshu]

A couple years ago I planned a commercial development. The build cost per square foot far (far being an understatement) exceeded what the building would appraise for after construction. In our area there is so much residential building (mostly by national builders) that the subcontractors can basically charge whatever they want. Since it's a wide region with different demographics the build cost is determined by the most expensive area, but the comps for financing appraisal are only determined by the immediate build area.

We tabled the project. I still own the land. Ironically I am hoping for a recession so the build costs will drop, then we can proceed with the project.