[quote=bearishgurl][quote=briansd1][quote=bearishgurl] Any “real” increases in SD County’s population now and in the foreseeable future can be accommodated by existing housing (already built), both SFR and multifamily. [/quote]
And why do you think that people are still moving to the outlying areas? Why do you think that people are willing to pay HOA and Mello Roos?
Obviously the existing housing is not meeting the buyers’ needs.[/quote]
I don’t agree, brian. It’s due to the plethora of (often confusing) choices a current homebuyer has. For many who tend to “gravitate” towards a highly-encumbered outlying area when deciding where to buy, they often initially have no idea what they’re actually looking at. If these “exurban” choices weren’t available, the long existing resale market would HAVE to meet their needs (or future needs with a later-built addition). If homebuyers didn’t wish to purchase anything in the current resale market, they would purchase elsewhere or continue to rent locally. That’s what buyers did before “exurbia” was plundered by developers’ bulldozers.
What a buyer “thinks they need” and what they “actually need” are often vastly different. In urban surrounds in the State of Washington, a buyer must buy what is already long there …. or buy nothing.[/quote]
That’s exactly what they’re doing…they are purchasing “elsewhere” in neighborhoods that fit their needs better.
Nobody is obliged to keep housing prices high in the older areas by artificially suppressing new inventory from coming online. There is no sane reason to do it.
More people are moving here, and that’s a fact. We need more housing to accomodate them.
