Editor,
Regarding the story, “Backyard homes now in San Mateo” in the Feb. 25 edition, the units from Abdou are overpriced in my opinion and are not viable affordable housing for lower income households. The three options currently available are the Abodu Studio at 340 square feet starting at around $189,000, Abodu 1 at 500 square feet at around $199,000 and Abodu 2 at 610 square feet for $259,000.
For a much more affordable Accessory Dwelling Unit, refer to this website: boxabl.com. It is a 375 square feet unit starting at $49,500.
The problem with California is a grossly inflated real estate market.
My parents bought a house in San Jose for $30,000 in 1966. My mother still owns the home and its estimated value is approximately $2,273,395. Based on her owning the home for about 54 1/2 years, the average appreciation per month since she purchased the home is $3,374. The estimated monthly mortgage is $10,086 if the home was refinanced or purchased. Housing appreciation in some areas of
California is another source of gold in this state.
One answer to California’s expensive housing problem is for people to move to a state that has more affordable housing.
John Bloomstine
Colorado
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