The new homes are crap.
* They were slapped up as fast and as furious as possible, with every imaginable corner cut to save time and expense (Energy-efficient concrete block construction? No way - we're using cheap 2x4's! Nobody cares!)
* They were built by an illegal unskilled labor force from Mexico. (Ever been to Mexico? Ever check out the building standards? Well, that's what we now have to deal with in the US.)
* And the builders built in places that for hundreds of years nobody ever thought of building homes (Gee, those power lines aren't that bad. Hey, let's build next to that dump!)
Meanwhile, good luck suing the builders. Most will be bankrupt and gone by the time the defects rear their ugly heads. Good luck suing the people who built them - they'll have high-tailed it back to Mexico. And good luck getting anyone to buy one of these crap shacks with cracked foundations, leaky roofs and paper-thin walls.
It's not just location, location, location. It's quality, quality, quality, and these McMansions are plain and simply crap.
If you buy one, at any price, it's simply your fault, and you'll have nobody to blame but yourself.