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June 12, 2014

Few people can afford to buy homes in close-in, walkable neighborhoods

  • Many builders have made a calculated bet: Better to sell fewer new homes at higher prices than build more and charge less.
  • By JOSH BOAK
    AP Economics Writer

    WASHINGTON — City living has been a blessing for Tim Nelson.

    The Phoenix lawyer moved downtown a few months ago into a new $389,000 home with a warehouse-style floor plan, a Jacuzzi tub and kitchen counters made of Caesarstone quartz. His favorite coffee spot is three blocks away. When the Arizona Diamondbacks play on Friday nights, he can watch postgame fireworks from his deck.


     
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