[quote=pemeliza][quote-threadkiller]I also know someone that makes $90k has that much saved up in cash and cannot afford to buy a new SFH in San Diego.[/quote]TK, why the insistence on buying new? There are plenty of older homes in better locations that your friend could buy with a monthly nut cheaper than renting after deductions. The other option is to buy a new home at an affordable price but in a further out location and deal with the longer commute. Just because one buyer cannot buy exactly what they want where they want it does not mean there are not plenty of options available to a buyer who is willing to make a few compromises.[/quote]
[quote=wooga]Why is it assumed that the average buyer should be able to afford a new, detached home? Somebody has to buy used homes, and even new condos. At any given time, I would assume that the portion of ‘new house’ listings is pretty small compared to new/used condos and used houses…[/quote]
Agree with both pemeliza and wooga here. I cannot wrap my head around why someone would pay a premium price for new construction (often without any nearby sold comps to justify its asking prices) when there is SO MUCH choice out there in far more desirable locations! It doesn’t make sense to me, at all.
