Re:Living paycheck to paycheck is disturbingly common
by dawnerd on Wednesday January 02, 2019 @11:52AM
(#18807573)
I’m guessing trulia is looking as asking price because that’s definitely off based on actual experience shopping around. Because of property tax being much lower, older homes can ask a lot more. Sure new developments here are asking 600k+ for a tiny condo but they’ve all been reducing prices. In my part of town my house was more than 50k lower than an almost identical copy of my house down the street that’s been here for 10 years.
Besides, I never said all new homes were cheaper so I’m not sure why you’re even trying to argue it. Shop around and you’ll find a deal.
https://www.trulia.com/research/new-home-smell/
Portland happens to be among the metros with the smallest new house premium at 14%. Thats still $28,000 premium on a 200,0000 house.
Sure "not all new homes" are in new developments, but the vast majority of them are. Most neighborhoods simply don't have empty lots to build on, they don't exist, any new homes are teardowns.