Quote:
Originally Posted by Tom Joad
It's going to be tough.
Marin County has set aside lots of green space which on the one hand makes it a very desirable place to live due to it's natural beauty and proximity to San Fransisco. That puts the demand side way up. On the other hand by limiting the amount of land that can be developed, the supply side is way down.
What is conspicuously absent is what these units are going to sell and or rent for? I've seen so called "affordable" housing that is priced way out of the affordable range of the average working stiff.
Now George Lucas certainly has enough big bucks to take a big hit and sell these units for a whole lot less than what it costs him to build them. But then, even he sells them for less than what the market will bear, what will stop the buyers from flipping them for a quick profit? Or, what happens when the Marin County tax assessor comes along and assesses them at market value and Joe and Jane Sixpack find that their annual real estate taxes take 50% of their take home pay?
My retirement income works just fine here in Mobile, Alabama.
But if somebody gave me a house in Marin County, I'd have to sell it because the upkeep alone would break me.
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We have some twist on the affordable in NY. The city required some units in
new high rise be affordable. They were built but the affordables had separate
entrances and exits.
