Cohousing-L Mailing List: Increase in housing values: A boon or disaster for cohousing?

[Rob Sandelin (floriferous]

I do not know how real estate prices are faring in other parts of the US but
here in the NW real estate is sky rocketing almost to the out of believable
range.  Cohousing units that originally sold for under $100,000 are going
for $250,000 and more.  It is one thing to be able to afford a place at
original buy in but with the escalation of real estate values it is
altogether another thing to be able to buy a home even a couple of years
after construction. 

It is a double edged sword, in that first time buyers, when they move on,
want to maximize their ability to buy another home, thus the higher the
price they can get for their unit the more house they can buy elsewhere. I
could not afford to buy my current home at its appraised value, but should I
sell someday I would have to move away from the area unless I was able to
get the appraised rate, since all the surrounding housing in the area is
doing the same jump in price. 

So is affordability a one time thing for first owners?

Rob Sandelin
Sharingwood Cohousing
Naturalist, Writer
The Environmental Science School
http://www.nonprofitpages.com/nica/SVE.htm
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