Full builds of Qt with static, debug and universal options will consume enormous amounts of disk space. If you want static libraries, then use the sub-src make target. This won't install the libraries though, so I usually copy the entire source tree over to its final destination (/usr/local/qt-static), the build there. I also avoid building debug static libraries, as I only use static libs for deployment, it's much easier for development to use the frameworks.
./configure -static -release -no-frameworks ... ... ...
make sub-src
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