Quote:
Originally Posted by mr. tegu
Starter homes are ridiculously overpriced due to a lot of those reasons. So when comparing to 40-50 years ago it’s just such a pointless exercise. Then, starter homes were being built and supply plentiful, while still being in good locations. But now those same homes are by and large occupied so you have to wait for availability and when it does come on the market you have compete because the location is good. The other option is to move 60 miles away for a comparable home size that’s is not being bid on by 10 people and Blackrock. The only starter size homes and prices I see being built are horribly ugly connected properties like duplexes/townhome communities that look like they purchased from a Sears kit.
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Yes, that is the situation I was trying to describe. It is horrible situation and a sad one. Furthermore, builders quit building the low cost homes in favor of the higher profit higher end homes.
I might clarify though, even 40-50 years ago, the starter homes were mostly just older lower end homes that I ran into. Didn't see any new ones in our price range back then.
Something truly needs to be done.