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I’m a New Yorker coming back home after years in California. The amount of new construction/condos is mind-boggling, but a lot of it seems to be empty despite decent prices for what seem to be decent places. Why is this? Just the economy? Or is there a sense that the new condos aren’t nice places to live? Or maybe even poor investments? Is there even a cultural backlash against them? Any insight would be welcome, thanks.