Because they refuse to be associated with their peers as if that elevates their social status, at least in their own eyes.

To over-simplify, if lending were as available as potential home-buyers would like it to be home prices would launch into inter-stellar space - well beyond the previously elevated values we saw before the crash - purely due to to supply and demand: supply is restricted as is growth in supply while demand is increasing exponentially. 

:)Kinda like what my dad said about rock n roll, now it's elevator music!

Lots of houses with some small walk-ups and pre-war buildings mixed in here and there.Transit is on the elevated J train.

With this two-unit I expect to make the lower unit wheelchair accessible but the upper-level unit is better suited to able-bodied residents, as there is no elevator.

Multifamily construction in the metro will remain elevated, as more than 60,000 units are in the pipeline, pushing vacancy up.

If the elevation is a couple below flood plain level then it could be worth it to being in fill dirt to raise the area the couple feet.

Good luck with out of the area contractors, I have seen and heard many hilarious stories of blown budgets and awful construction from contractors that supposedly do good work at low elevations.  

Figure out your target elevator pitch and tell everyone you know thats what you're buying.

That must be one helluvan elevator pitch.