Doing Your Homework

From Michigan, we have Plainfield Twp.: Builder switches to condos.

Meahney, co-owner of the site and owner of the Thousand Oaks Golf Club adjacent to the 23-acre development, said market demand for 20,000-square-foot houses has suffered a sustained nosedive.

Folks, this is the same Michigan whose current unemployment rate is the same as the worst times of unemployment in the depths of the Great Depression. This is the same Michigan whose winters make the East Coast look like Acapulco.

What possible demand can there be for a 20,000 sq-ft house in this place? Who's going to buy it, and more importantly who can afford to heat and cool it?

He said condominiums averaging 1,200 to 1,500 square feet should be more attractive to baby boomers who don't want upkeep responsibilities of a larger home. Prices will start at $300,000, and the density might drop to 55 condos once the project gets under way, he said.

There are very few people who can afford $300K in Michigan. In fact, there are very few people who can afford $300K in all of the United States. In fact, there are virtually no people who can afford $300K in all of the world.

What planet are these people coming from?