nosuchreality
Well-known member
Jim the Realtor's blog got me thinking tonight. Then again, maybe it's just the jet lag.
Quality properties, and particularly quality properties are a sub-$500K, if not $600K price point appear quite hot. Literally flying into pending status with multiple offers. Even at higher price points, quality properties, without outrageous prices move quickly off the market.
My question, is quite simply, is the market hot, or as I proposed on JTR's blog, it's not hot, it's just that the vast majority of the California Housing stock, particularly in the SoCal region is swill. This is a slight variation on previous discussions about the lack of quality homes in the market. The question is, is it lack of quality homes on the market, or just lack of quality of homes?
People have realized that the vast majority of housing is really substandard for the expectations that Americans have with personal space and material possessions. That our communities and infrastructure are in poor repair and lack walkability, greenspace, and social engagement. Commutes are long, traffic poor, schools widely varied.
The majority therefore settle for mediocrity that poorly balances or completely lacks balance in family, community and employment. The masses inherently know this, even if they cannot voice it into concrete requests for living.
In essence, much of the Irvine premium comes from a coupling of greater community or semblance of community and greenspace, walkability, or safety around essentially the same poor housing stock.
Quality properties, and particularly quality properties are a sub-$500K, if not $600K price point appear quite hot. Literally flying into pending status with multiple offers. Even at higher price points, quality properties, without outrageous prices move quickly off the market.
My question, is quite simply, is the market hot, or as I proposed on JTR's blog, it's not hot, it's just that the vast majority of the California Housing stock, particularly in the SoCal region is swill. This is a slight variation on previous discussions about the lack of quality homes in the market. The question is, is it lack of quality homes on the market, or just lack of quality of homes?
People have realized that the vast majority of housing is really substandard for the expectations that Americans have with personal space and material possessions. That our communities and infrastructure are in poor repair and lack walkability, greenspace, and social engagement. Commutes are long, traffic poor, schools widely varied.
The majority therefore settle for mediocrity that poorly balances or completely lacks balance in family, community and employment. The masses inherently know this, even if they cannot voice it into concrete requests for living.
In essence, much of the Irvine premium comes from a coupling of greater community or semblance of community and greenspace, walkability, or safety around essentially the same poor housing stock.