Cost to Build a House in 2010

I own a piece of property in some high desert mountains south of Socorro, NM.I am thinking of building a retreat/vacation cabin.I am having contractors tell me the cost should be between $100 and $115 per sq ft.I think at this time in the economy I should be able to do it for $50 or $60. Am I just dreaming or is it possible?Tom B.Good question! A question that is surely on the minds of many