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Affordable Developments Lower Ownership Bar

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Newish affordable developments Mission Walk in Mission Bay and Bay Oaks in the Bayview are lowering the bar to allow slightly richer people to buy in. The below-market rate condos, which have maximum incomes on owners — for cheap properties like a 2-bedroom Mission Walk condo for $210K — haven't been faring well against similarly priced foreclosed properties, which don't have income ceilings. Says the director of the Redevelopment Agency: "We've never had this much inventory on the market." [SF Examiner]