“We’re building them because we’re selling them,” Mr. Anderson said. “Our customers wouldn’t care if there were 50 homes in an established neighborhood of 1980 or 1990 vintage, all foreclosed, empty and for sale at $10,000 less. They want new.”Which I find completely baffling. Even in Las Vegas, houses are built to last 50 years and more. there just hasn't been that much in the way of technological or design advance in 20 years that would make new houses much better than older ones. Why the obsession with buying new?
Sunday, May 16, 2010
The Weird Desire for New Houses
Builders are putting up new houses in Las Vegas, where prices are down 60% from their peak in 2006, and thousands of foreclosed homes are languishing unsold. One developer told the New York Times,