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Those 'entry-level' houses are being bought up by idle capital and rented on AirBnB.
by wavefunction 10y ago
Those 'entry-level' houses are being bought up by idle capital and rented on AirBnB.
- stale2002 10y agoThe entry level houses aren't even being built in the first place.
- alistairSH 10y agoThat's true in my area. While there is plenty of construction, the land is too valuable for entry-level homes. If it's zoned for SFHs, the market will tolerate a 3000sqft+ mini-mansion with a high level of finish. If it's zoned for THs, they'll be 4 stories with an elevator. Condo development caters more to rich retirees than young professionals. The underground parking at the nearest high-rise is full of $100 cars.