Thursday, February 26, 2009

Is The Recession Over?

I realize that it costs a lot of money to build a new house from the ground up. Land and materials are expensive. I don't expect builders to give it away.

But considering the fact(s) that:

a. We are in a recession,
b. Tallahassee has never been a hotbed of high-paying gigs, and
c. We are no longer in a seller's market ...

What is UP with this and this? And am I the only one who sees a problem with naming a house aimed at upper-income buyers "The Katrina Cottage?" Maybe I'm hating because I love this particular neighborhood and want to marry it, but this is just nuts.

8 comments:

Christina said...

I like the "Katrina" cottage, but the name is a little WTF? And of course I don't have to mention that the price actually seems great to me. :-(

EDP said...

I know, girl. I know it hurts to see that pricetag and folks complaining! But there are a lot of folks here who woudl have to work three jobs to pay that mortgage.

Zil said...

I love all those K2 Urban Corp houses. I toured a couple on the Parade of Homes a while back and they are *gorgeous* inside. The prices seem ridiculously high though. Same with the cool old houses in midtown and Los Robles. I don't get Tallahassee real estate.

EDP said...

I admire K2 urban as a company. I've met the guy behind it and he really believes in returning to urban neighborhoods and throwback architecture. And I LOVE the houses. If this were a major city, the prices would make sense ... but not for this market.

downtown guy said...

It's called a Katrina cottage because that's exactly what it is. They were designed as a cheap alternative to FEMA trailers after Katrina. You can buy the plans and all the needed materials cheap from places like Lowes - it's only supposed to run about $27,200 to $46,800. People are buying them these days because they're cute, sturdy, affordable, and have a small footprint. Of course, trust Tallahassee to take a great idea and completely fuck it up.

I've wanted one for a while, but not from Frog.

http://www.katrinacottage
housing.org/

EDP said...

"Of course, trust Tallahassee to take a great idea and completely fuck it up."

I thought the original Katrina cottages were a great response to the post-Katrina housing crisis — affordable, green and durable. But this price is insane! This is sustainable housing for the affluent.

downtown guy said...

Most of the price comes from the overpriced lot. I've been following this development for a while, and they started with the planning and building before the market went bust. I'm pretty sure they just got left holding a very expensive bag, if you know what I'm saying.

I'd love to have my own little Katrina cottage on a few acres outside of town, though.

EDP said...

I do feel kind of bad for the K2 folks, because I believe in the spirit of what they're doing. Their houses are beautiful, but like you said, they got caught unawares in an awful market.