Home Building: The Case for Cautious Optimism

While I agree with cappy1114 that reuse of existing older housing stock in the inner cities and inner ring older suburbs is a good thing, often times gentrification fails because urban professionals move in and renovate these homes to a highend quality and the moderate income and low income people are priced out of these communities. Mixed income neighborhoods never really quite work out, either. They almost always become upper income or lower income communities. That's a real challenge to solve for urban planners, architects, designers, etc.

Why should you pay three same price for a old home where 90 percent of the tome the home owners want a big profit but no changes have been made since the home was built. So essentially your paying more for a used house. I see this all the time in California. Houses that cost over half a million dollars with the original 1970's kitchen baths oh and yes the cheapest laminate flooring the could find because of course wood sells. Please unless your going to really invest in the floors don't changed them just to jack up the price. housing is jus way over prices. I talked to a 80 year old she bought her house for $70,000 and it has no updates but she could sell out for $675.000. The home is older and it cost that much more all because home owner insist the have to make a profit. I am so proud or my generation for getting out of the market. We got screwed. No generation has ever faced trying to achive in a world where everything is overpriced. I wish more people would refuse to buy the market would completely crash and we could have the same opportunity. Oh and I don't care about those people who property value would drop. Their property value is inflated. The should not have over refinanced pulling out equity and they should not be trying to sell poorly maintained overpriced homes.

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