So, in some booming towns, specifically tech towns, housing prices are going through the roof. $100,000 homes rise to almost 1 million dollars.
This is threatening the existing residents because housing costs go up, the cost of living goes up, property taxes go up. Just imagine paying 5% for a million dollar house every year.
Why are they pissed? Because they are forced to change their life and possibly move away. Quiet neighborhoods are transformed to more “modern” landscapes.
How do you guys feel about this?
Should these tech hubs be made in new towns instead of taking over pre-existing towns? Let the invisible hand of capitalism do its job? As they say.
Side note, I remember hearing about this with poor and minority communities, most people said “they should just move after they sell their homes, make a profit”. Now it’s affecring the upper middle class. I wonder if change will come from this new trend.
This is threatening the existing residents because housing costs go up, the cost of living goes up, property taxes go up. Just imagine paying 5% for a million dollar house every year.
Why are they pissed? Because they are forced to change their life and possibly move away. Quiet neighborhoods are transformed to more “modern” landscapes.
How do you guys feel about this?
Should these tech hubs be made in new towns instead of taking over pre-existing towns? Let the invisible hand of capitalism do its job? As they say.
Side note, I remember hearing about this with poor and minority communities, most people said “they should just move after they sell their homes, make a profit”. Now it’s affecring the upper middle class. I wonder if change will come from this new trend.