The housing issue

The real estate market-especially in Southern California has grown by leap and bound. I suspect the increase in housing price has to do with the affordability issue of existing homeowner to purchase a newer home. The difference in price for another new home can not justify the increase in equity to purchase another home. Also, the tax on the new home will be so great that it will not make sense. As a result, most of the existing homeowners chose to stay put and not move up. The decrease in housing inventory explains the increase in price. As a Civil Engineer I witness the increase in the development in the Southern California area. I worked on the Quail Hill project by the Irvine Company and several other significant tracts by major home builders in this area. It has been increasing challenging in preparing the necessary engineering plans for these housing developments since we are more conciencious about the traffic, drainage run-off, and etc. These are positive attributes I like to see in having an environment sensitive development where we can live harmoniously with our surroundings.