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I wasn't referring to those post-WWII suburbs. This suburb was one of the street-car suburbs - dense and walkable, with easy transit connections and 15 minutes to downtown. The kind of suburb like the Heights in Houston, where people actually pay a premium to live, but with much more convenient mass transit.
Maybe I should just stop fretting about this. The neighborhood has low crime, it's in a good location, I like the house and it's less than the price of my other half's Accord. If people are being stupid and dumping their homes for half their value, I should take advantage of their ignorance. If it depreciates, so what; I don't expect the car to appreciate.
I'd probably make the same decision. (I have, in fact) But, you should consider that depreciating home values, whether based on stupidity or not, can cause real problems. Nice neighborhoods with falling home values are often targeted by investors who sometimes turn into slumlords. If problem tenants move in, and the owner doesn't care, that can ruin your quality of life. We (the neighborhood organization I belong to) have run into this, and we had to embarrass the property owner (he owned many properties) into caring.
No one wants to be in the minority. When a neighborhood reachs a tipping point, the group that is loosing ground will want to get out. It can and does happen everywhere.
I'm sure property values AND increased taxes come into play, but how in the world could I possibly answer the second part of your question?
It's only possible unless you're one of those moving out or if you know someone who has moved out for that reason. I was getting at whether they are simply moving out because they are becoming the minority in the area or because they can't afford to stay there any longer.
It's only possible unless you're one of those moving out or if you know someone who has moved out for that reason. I was getting at whether they are simply moving out because they are becoming the minority in the area or because they can't afford to stay there any longer.
I would think each case is different, so you would have to ask each person that moved out. You can't really make a blanket assumption about people's reasons for moving to the suburbs.
It's only possible unless you're one of those moving out or if you know someone who has moved out for that reason. I was getting at whether they are simply moving out because they are becoming the minority in the area or because they can't afford to stay there any longer.
I'm sure it's the affordability factor more than anything.
There was some initial resistance to whites moving back into certain neighborhoods about 10 years or so ago, but some of it was more of a "gay thing" than a "white thing."
Lately, all I ever hear about is how welcomed most people feel by the elderly black folks that remain. I'm told that by and large that most long term residents seem to think that it's an overall positive thing for the city.
I agree with them, I just hate to see people being forced to move.
I would think each case is different, so you would have to ask each person that moved out. You can't really make a blanket assumption about people's reasons for moving to the suburbs.
..and I agree.
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