Construction finished on the first master planned community in what, ’89? Three years doesn’t seem to be enough time to effect a total change in buying habits for something as illiquid and conservative as real estate. I’m assuming that there were still some people, especially of good blue-collar upbringing, who bought one of the smaller houses in the early 90s in their early 20s.
The “900-1400 sf = bad” thing is funny to me. I currently own a home and a rental. Total square footage, added together, is about 900 🙂 My sister’s first place is a bit bigger, at about 1200 sf.
We both bought what we could afford in our late 20s.
Lastly, I’d be interested to know what demographic things like 2/2 condos in the mid to high $100k range are going to. First time buyers, mainly landlords, or older empty-nesters?
