Is The Next American Dream A Condo?

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.

1 minute read

March 28, 2007, 6:00 AM PDT

By Christian Madera @http://www.twitter.com/cpmadera

"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

Sunday, March 25, 2007 in The San Diego Union-Tribune

Housing California

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