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anon_0k9zlfz6lz9oy
Guest
This is part of the reason I’m particularly bullish on the sun belt. Areas in Houston where you have schools that are ranked higher than those in ridgewood you can get a nice 4 bedroom home for $450-500K.I grew up in Edison. In the 50/60/70 builders did build small ranch starter homes on 1/4 or 1/2 acre lots. Those homes are now being sold for $500k+ to builders who are knocking them down and building new houses and selling for $1M+.
There is no new land to build on. The town is full so it’s only knock downs from here on out. There is no starter home. Any home cheap enough to be considered a starter home is basically run down and will have a builder buy it for the land. There is nothing that the government can do about that nor should there be.
But I also agree with the other posters that the government restrictions aren’t helpful to the housing market.
I’m not sure where is NJ there is enough open space to build starter home from a government program???
Heres an example. This house sends to Clements High School which is the #555 ranked high school nationally. Its listed at $450K, it would be $1,450,000 (this house is 3K sq ft and ridgewood is selling at $495/ft) if in ridgewood and ridgewood has the #644 ranked high school in the same rankings.
I use this as an example because my partners and I own a complex right there zoned to Clements.
11418 Bucks Bridge Ln, Sugar Land, TX 77498 | Zillow
11418 Bucks Bridge Ln, Sugar Land TX, is a Single Family home that contains 2999 sq ft and was built in 2000.It contains 4 bedrooms and 3 bathrooms. The Zestimate for this Single Family is $452,800, which has increased by $2,807 in the last 30 days.The Rent Zestimate for this Single Family is...
