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Why New Homeowners Are Drawn To Otay Ranch

A home for sale sits behind a sign that reads,

Photo by Gregory Bull / Associated Press

Above: A home for sale sits behind a sign that reads,"sale pending," in San Diego, Aug. 14, 2013.

GUEST:

Philip Molnar, reporter, The San Diego Union-Tribune

Transcript

As San Diegans struggle with increasing housing costs, the search for an affordable home is taking hopeful homebuyers to the edge of San Diego. Otay Ranch is becoming the largest residential development in San Diego history.

RELATED: San Diego County On Track For A 50 Percent Housing Deficit By 2020

The San Diego Union Tribune reports that Otay Ranch has recovered from a slump during the housing crisis, and now developers are building 17,000 new homes at prices significantly below San Diego's median new-home value of $787,000 in June. But there are drawbacks to purchasing a home in Otay Ranch, primarily the location and higher property taxes.

Philip Molnar, a reporter for The San Diego Union-Tribune, joins Midday Edition on Monday to talk about the history and future of Otay Ranch.

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