[Capn Hayek]

Builders build what people will buy.

Personally, I think the problem is simply that first-time homebuyers stubbornly want to live in the hipster, expensive areas where premium pricing will apply.

I have some sympathy with that. Just a few years ago, had this discussion with my daughter and SIL - now, their money, their choice. They’re responsible and they got a great rate (2.75 on a 30 fixed!). It’s a nice place and I would not deny I love the neighborhood.

However, I couldn’t help teasing a bit: At the price they paid? They could have bought an absolute mansion in Dayton, Ohio or Ft Wayne, IN or whatever.... Not that I wanted them to move further away, but I’m just saying. Daughter’s a doctor and SIL has a good job he can do remotely.

Like I said, it’s their money and they’re adults so they can make their own choices with it. But, I couldn’t help SMH.

[dfwgator]

Personally, I think the problem is simply that first-time homebuyers stubbornly want to live in the hipster, expensive areas where premium pricing will apply.

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Part of it is true. But let’s face it, there is a certain price point where below it, a neighborhood isn’t safe, and the price point just keeps going higher.

[gloryblaze]

2.75%, wow. How common is that? Wisconsin average is over 5%. I have CD’s at nearly 5 return!

[dakine]

Location, location, location..

You have brought up ‘cheap ‘ housing in Ft. Wayne prior..

A $1.2 mil house on Oahu, equals $600k house in MD. equals $300k house in suburban Detroit. Places I’m familiar with...