Originally Posted by
chuckman
Read about urban gentrification. It's happening in my fair city. A lot of people coming from out of state, because it was too expensive where they lived, come in and our pay $300,000 for 1200 square foot home that is eight years old and refurbished. That drives up property costs for everybody, and now there's no affordable housing for low-income or even low middle-income.
Young liberal hipsters are moving downtown and building restaurants and coffee houses and bars where nothing is cheaper than $10 on the menu. And because property value has become so inflated a lot of people are selling and moving out into neighboring counties or into the country.
My house has gained $60,000 in value over just a few years, and there is no reason to think it's not going to keep going north.
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