On 10 Oct 2004 00:33:45 -0700, someone wrote:

...But I presume people would do such a cost/sq-footage
comparison for houses in the same neighbourhood.

There is no reason to "presume" that most people do this. My
observation is the opposite. Somebody wants a 3-BR, 2-1/2 bath house
in a certain school district and not too far from work - and they pick
the "nicest" house of the comparably priced ones, without resorting to
detailed calculations of SF to tell them which is the best for them.
Of similar houses, the other factors appear to GREATLY outweigh square
footage. Gettting a "deal" on square footage is no deal if the family
liked the other house better because it had a nicer kitchen, layout,
bathrooms, yard, etc.

With commercial property, especially leased property, it is typically
the opposite. It is sold or leased by the square foot.

-v.