Oklahoma Builders focus on smaller homes (Edmond: for sale, loans, houses)

[flintysooner]

Thought this was a good article: NewsOK

Edmond builder Caleb McCaleb estimated that fully 80 percent of the houses being built in the Oklahoma City area now will sell for $250,000 or less. Before the downturn, he estimated, half sold for more than $250,000 and half for less.
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McCaleb got out of upscale building when demand — and the "jumbo” loans helping fuel it — dried up. He was left with several homes for sale at the upper end and only recently sold them. "I had to take trades,” he said, meaning he agreed to buy smaller homes from some customers to enable them to buy his.
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In general, though, "frugal is the new cool,” he said, although even people downsizing still insist on a few "jewel box” features