Goodbye middle-income suburbs?
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The homes getting knocked down are the older 50s ranches and capes that still provide a way to buy into towns like Lexington or Needham in the $400,000 to $600,000 range.
They are being replaced by homes twice or three times as large that sell for a million or more.
And in some cases, colonials and split-levels from more recent decades are also getting bulldozed. One of the more interesting examples I found was in Lexington, where a builder recently tore down an $810,000 split level to make way for a 6,500 square foot, six-bedroom house that will sell for more than $3 million.
The teardown revival Continue reading >>>