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Is The Next American Dream A Condo?

Posted by: Christian Peralta Madera

28 March 2007 - 6:00am

With few residents able to afford a suburban home, residents of San Diego and increasingly other high-priced western cities are gradually embracing a new model for homeownership.

"The dream of owning a house – one of the most cherished of American ideals – is fading for many middle-wage households in San Diego County.

Confronted with a lack of buildable land, astronomical housing prices and newly tightened lending policies, those wanting a house of their own are caught in a cultural and economic shift dictating where and how they will live.

They can move to Riverside County, where prices are lower but the commute is longer. They can leave the state, as thousands have done.

Or they can stay, and downsize their housing expectations, analysts say.

It's a change that is reshaping the nature of homeownership here, even as housing prices pull back from their historic highs."

Full Story: Keeping the dream alive
Source: The San Diego Union-Tribune, March 25, 2007
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One major problem with the current focus is that parking demand is tricky to pin down, since demand itself is a function of supply, especially in urban places.
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