Costly Starter Homes Drive More People to Condos and Apartments

“Costly ‘starter’ homes drive more people to condos, apartments” 
Greater New Milford Spectrum – Nov 30, 2018

With new home construction becoming less profitable for developers, young first-time home buyers could be pushed more to apartments and condominiums, according to Jesse Holland, president and founder of Sunrise Management. Holland and other local real estate and economic experts spoke Thursday at the Institute of Real Estate Management's 2019 Economic Forecast panel discussion. Things like higher labor and insurance costs, as well as rising interest rates, are driving the price of homes up, meaning apartment dwellers are having a harder time buying "starter" homes than in past decades, according to Holland.