Rather than spend $750,000 on a new house or condo in San Diego, buyers are instead heading a half hour southeast to Otay Ranch, a 25,000-acre residential development that was hit hard by the housing crash.
The Los Angeles Times reports that the median price of a home in Otay Ranch is $500,000. The community will add nearly 18,000 more homes in the coming years, but they will go fast: Builders say that homes are selling before construction is completing, priority waiting lists have been enacted.
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