When ever we joke about it or when other posters are derisive about Normal Heights and North Park I can imagine people saying. Hey what about Kensington, N. Mountain View, Panorama, Redwood, South Park ect. To me those areas have always been just fine. With the exception of some spill over criminal element.
Yeah, I just had my car rifled last night… arghhh
Lack of schools many people would consider suitable for their kids is and issue. I notice you didn’t include growing families in you demographic description.
Intentional. That’s the point where the families move on from here (or, those with too many younger kids for the smaller sizes of the homes). C’est la vie.
I am not sure what you mean by set on its ear. The area is still basking in a renaissance glow from my perspective,even if gothic seems to be more the trend.
I think the demographics you mention make up the buyers actually participating in the run up along with flippers . There are some stuck flippers there but many of them sold to these very people you describe.
Yeah, but many got in over-their-heads, and will be doomed by the ARM adjustments. I have a nice military couple near me that bought for 600K, and have put a lot a great improvements into their place; but I fear they will get burned if they’re into some funky ARM. In the past, with 30-year-fixeds, as long as they could afford the entry point, they stood a good chance of staying.
What you probably want to hope for is that the natural demographic is not rentals to the extent that it was before.
Maybe my next, next-door-neighbor, will not feel compelled to park his muscle car on the lawn…
I will believe that prices will get hit pretty hard until I see proof otherwise.
Agreed.
I think in the frenzy the quality of the housing stock kind of got overlooked in some cases. I am not a housing snob,many of my friend live in those hosues and my first house was one, but it is true that many of those houses are basically shacks. I also am aware that the money is in the dirt but many lots are tiny and the appreciation was absurd regardless of what the value is applied to.
Independent of the cost of the “dirt”, I must defend the housing stock — it’s simple but well-built, well-designed, and the last gentrification wave shows that it can be rebuilt to original specs at reasonable cost, leading to quite nice looking neighborhoods. Try that with 60’s dingbat apartments!
