On the lighter side of unreality, in LA $2.5 million gets you this (101 South Rockingham Avenue, 90049 in case it moves around in the MLS.) Yes, I realize that location is important. This is OJ's old 'hood, so even old houses that need stucco repair and still have Christmas lights up deserve the premium price.In Houston, $2.4 million gets you this. Scroll all the way down to get the full Monty.
On a different note, after a 3-year hiatus, I just noticed that tower cranes have started to rise again in west Houston, particularly at the old Town and Country center and over at Memorial City. I can't image they are condos since we are awash in those. My guess is spec office buildings.