| So why are we contributing to a problem? The argument was made that the proposed housing development was to serve “ the missing middle” and down- sizing seniors. Who is it really for? Sent from my iPad The median for new construction in the US is now 2,179 sf. That the price is so high is a function of this area, not what the “missing middle” purchaser can afford.
I got answer regarding the cost of 17 of the 20 units being proposed by CIVICO for the Panetta property. The 1800 sq ft units will sell for $1mill, the larger ones will go for $2-3 mill. The income required to afford the “starter” million dollar home is $225,000, with 20% down ($200,000) and a thirty year fixed rate at today’s rate.
Is this the “missing middle?"
Sara,
Please do not ask me to do research for you.
As I wrote, I was simply adding one detail to the picture.
Don And how much do the balance sell for? Are they addressing the “missing middle” we have committed to addressing? Those homes would be $750,00 or less.
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