The growing ranks of baby boomers' children, now moving into early adulthood, are also increasing demand for entry-level houses.
As demand for these entry-level houses rises, some conventional builders will also try to capture the market.
The story I'm trying to write is that entry-level houses shouldn't cost a million dollars.
"It's our entry-level housing in Ramsey," she said.
"For entry-level housing, it is more than doable".
The Federal Housing Administration, which has become an important part of the entry-level housing market, is expected to tighten its standards in the next few weeks.
He added that the government had made a strong investment in entry-level housing, to fortify the foundation of the city's real estate market.
Mr. Kapell, a real estate broker, estimates that an entry-level house in the village costs about $400,000, the amount he says should be exempt from the tax.
"It's a perfect entry-level house for young professionals from Wall Street or the business sector who are looking to move into this area," said Linda Roth, the branch manager of Coldwell Banker Doernberg in Scarsdale.
Mr. Israel said he would introduce legislation in Congress next month that would provide tax credits and incentives for developers to build entry-level housing on the Island as a "defense production capacity issue".
The town's planning and zoning commission is focused on the need for entry-level housing, especially for local workers, and is not even factoring in financial incentives, said Hiram Peck, the director of planning.
