bostonbubble.com

[Jon]

Am I mising something?? Why would anyone in their right mind pay a builder to build a home for them at new market buildng prices per sq/ft when you could get a foreclosure (assuming one is available in the area you want to live), wait out the market (will continue to decline) or puchase an existing home already built at a discount. In most cases homes are sellng for less than was purchased al the way back to 2002-2003 (look on redfin). Am I missing something here?? Anyone?

[john p]

Depending on the location, some older homes don't have the nice open flow of what new designs are. Nowadays people like the big kitchen and family room and don't need the formal living room.

For many markets, you're right, the numbers don't add up.