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.
Like I said, though... I think it’s less “neighborhoods” than locales.
I certainly don’t want to force anyone to live anywhere, but the missus and I lived in 3 different states before settling down.
I generally hate to sound like one of those people saying “Yeesh, kids today!” — but you don’t NEED to live in Brooklyn or Miami or the California coast or the NC triangle!
Ft Wayne, IN... Columbus, OH... Cedar Rapids, IA. Lincoln, NE.... There are both jobs and some really amazing housing prices if buyers would just look more broadly.
My wife kept giving me the evil eye when I suggested it, and again - I didn’t *want* them to move away, but I look at prices broadly, nationally? I think too much of the “affordability problem” is simply lots of younger folks insisting “No, but I want to live HERE!!!!”
That’s perfectly fair, but if you insist on living “HERE” then basic economics: demand - is going to apply.