Comment 25618

By A Smith (anonymous) | Posted June 21, 2008 at 00:27:06

I believe that customers do know what they want. People like Westdale because the homes are well maintained, there are many big old trees, and the people that live there have money to spend at local businesses. This is in contrast to the downtown, where properties are not as well maintained, the people do not have the income to support nice retail establishments, and there are drug addicts living nearby.

Given the choice between the two neighborhoods, it is easy to see why home prices are higher in Westdale.

As to your question about lofts being more expensive than homes in the downtown, my only answer is that there is more demand for the lofts. If this is the case, than a truly free market will produce more lofts, and less homes.
This demand is perhaps a reflection of a younger consumer, who likes living near "trendy" bars and restaurants.

As to your assertion that builders will build what "they" want, you are correct. However, what they want is money, and the more the better. In order to make money, they need an enthusiastic customer. Therefore, builders have a great incentive to make their neighborhoods as nice as possible.

That is the key point, builders cater to the customer, and the ones that don't eventually go out of business.

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