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Booming property values squeeze ''balanced'' housing: city, builders try to meet lower income needs.

Publication: San Diego Business Journal
Publication Date: 25-AUG-03
Format: Online - approximately 565 words
Delivery: Immediate Online Access
Full Article Title: Booming property values squeeze ''balanced'' housing: city, builders try to meet lower income needs.(in Chula Vista, CA)

Article Excerpt
Chula Vista's reputation as a relatively affordable place to live is dwindling.

The city's population boomed over the last two decades, and in the last few years, so have its prices.

According to San Diego-based Market-Pointe Realty Advisors, the average price of a newly built home was $201,500 in Chula Vista in 1996. The average increased steadily to almost $300,000 in 2001. At the time, new homes in Chula Vista cost 31 percent less than the countywide average.

Last year, Chula Vista's average...

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