Quote:
Originally Posted by Roughneck
Why aren't the people who are able and willing to pay $1.4M for an infill duplex paying $800K for the bungalow to outbid the private developer?
|
Probably because the young people today want everything new and shiny. They tend to look down at anything second hand. However, in my experience, if they want to build wealth, they should be focusing on size of the lot and the location, as those are two of the most important factors which will probably maximize the long-term return on their investment.
IMO the smarter people are outbidding the developers in some of the nicer neighborhoods, keeping them intact and free from all the problems that come with the multi-developments.