August 21, 2007

They’re not making any more land… unless they are

San Jose Mercury News – Mountain House community: From boom to bust on Bay Area’s edge
Mountain House, where Bay Area transplants are 80 percent of the population, is a dramatic illustration of a development that was built as a solution to Silicon Valley’s overpriced housing market. Now, it finds itself hurt by high gas prices, ever-worsening commutes and a growing desire among South Bay residents for housing close to Silicon Valley jobs – even if it’s condominiums and townhouses.

The trend of building high-density housing projects in the Bay Area’s urban communities has taken off in the past several years, the result of land-use policies that allowed developers to build condos and townhomes on former industrial property. This option
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wasn’t widely available when buyers began moving to Mountain House.

It’s all taken a toll.

Perhaps it’s time to clarify the ol’ nugget a little: They’re not making any more land (unless they are)!

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