[quote=Happs]This article is from yesterdays San Jose Mercury News. Developers are struggling to keep up with new home demand in the Bay Area. Not everyone wants an old house, and there are plenty of them in the Silicon Valley. I say ease restrictions to lessen the new housing shortage.
As someone who likes new houses as well with their better insulation, cat5e/cable jacks and wiring everywhere, higher ceilings, double pane windows, etc etc etc…I think this is true for a lot of dual income professionals who don’t want to and don’t have or want to use their time to “fix up” a starter home…
Even with income in the 300k range, I think very nice/comfortable/big Bay Area housing is going to be out of reach for many. Especially compared with most anywhere else in the country.
They just aren’t building anymore land in the bay area and looking at these articles and having looked for homes in the past there, there’s practically NOTHING new really…Other than the old racetrack they mention in San Mateo, I don’t think any location mentioned would be considered bay area to most snobby bay area folks.
Paying insane amounts for small plots of land also sound very risky if there will ever be a downturn.
