Coastal California home prices have skyrocketed, creating great opportunities for homeowners to cash out and move to a smaller, nicer home. Check out this news clip featuring Dean Wehrli on the trend toward surban™ living.
Here are some of Dean’s comments:
- Builder profitability: “The land’s very, very expensive. Honestly, builders have to pop up the density a little bit sometimes to make it work.”
- Demographic shifts: “Some of those older buyers—they don’t want the yard. They want the lower-maintenance kind of home.”
- Small parties: “It’s for that get-together with your friends, not the big backyard barbecue with the whole neighborhood.”
- Nearby entertainment: “They’re going to meet their friends at the club or the bar or something like that.”
- Shared outdoor spaces: “They can provide that public outdoor space in lieu of that private outdoor space that the high-density product can’t always deliver or doesn’t want to deliver.”
- Value proposition: “They (Coastal homeowners) live in a hovel with no yard for ($1.5 million).”