Part of this has to do with the less densely populated housing, more open space and higher priced homes.

Locals there have a spring in their step, helped by unusually keenly priced homes.

In April 1915, Burton organized the Burton Investment Co, for the purpose of erecting 100 modestly priced homes in Detroit.

"Higher priced homes in Rye are usually in a special location on the water or in perfect condition on unbelievable property," she said.

"People are still pricing homes too high and changing their minds."

Beautiful Sprawl Suppose you have a choice between two similarly priced homes.

"They can't overbuild for the neighborhood because of the preponderance of higher- priced homes up to 2,200 square feet," she said.

The Hill Section includes higher priced homes where many of the residences are remodeled and situated on steep hills allowing panoramic ocean and city views.

Now, Mr. Yang, who is the company's chairman, is sitting on huge reserves of land and churning out new, modestly priced homes at breakneck speed, analysts say.

Moderately priced homes are increasingly seen as a safer, less-volatile investment.