Why the Starter Home Might Finally Be Dead
Traditionally, when couples get married, they purchase their very first home together at the same time. These so-called "starter homes" have historically been inexpensive, allowing young couples to become accustomed to home ownership before moving on to a larger residence once they get better jobs or have children.
However, with the U.S. housing market heating up fast -- and home prices steadily on the rise everywhere from San Jose, CA to Wellesley, MA -- it appears that the starter home might finally be a long-gone relic of the past.
According to an August 17 WCPO article, today's home builders are constructing two types of homes: deluxe, luxury dwellings with mansion-like proportions and granite counter tops, or homes meant for families on government subsidies.
As a result, there are ...