Thanks for the education of MH guys/gals. That makes a lot of sense. I guess it all comes down to supply and demand. Since these older areas tend to have a lot less supply (due to people staying and retiring in them) and demand increasing as more empty nester are looking to downsize. Although these type of areas are not for me, I now see why it’s a big draw for some.
pemeliza, I have a feeling that high end of an area appreciating slower than its corresponding low end is true for a lot of areas, even in the burbs. Paying 1.66x the 1988 price is fantastic. So, it sounds like there are deals to be had for the truly high end. It’s the bottom end of the area that’s hard to find deals.
