Prince George's Hood, The speculative outlook.
I randomly have thoughts of grandeur and of things that could be considered awsome but I never write them down. Sure, sometimes I share these ideas with others... but not so often. I have realized that my blog should not be a diary but more a way to express my brilliance or lack there of and so now, I would like to express the newest idea to cross my mind and I hope you will enjoy it and be able to leave me comments and help me find flaws in it.
In the last few years western Canada has seen a major rise in real estate prices and suprisingly the high prices have captured many individuals to buy a house. People hoping for the prices to continue to rise have risked a lot. Many of these people have plans to only have their home for the short run, but what will they do after? What do you do when you sell your home, have made a profit on it and then going to buy a "nicer" , more accommodating dwelling? Have you really made a profit? Well sure I guess it is a way for some people to live in homes that they could stand no chance in living in during years prior to the rise in real estate...but is this smart? We all know prices will drop eventually, probably not right back down to what they were at the dawn of the millenium but they will drop. So how can we be safe? How can we save our investment?
Well let me tell you.
A small trend is happening and is easily being over looked. Many people who have sold there house in this real estate boom have bought a new one, a cheaper one. A house that has allowed them to pay off their mortgage or come closer to it, some even having excess from the huge boom that has occured. And where are these people moving to? The cheapest place in town. The Hood. It is dangerous sure, but more and more regular "safe" people are moving there. Surely this will impact the the area causing it to be safer and driving out some of the crime that is in that neighbourhood. I am not saying that it will become a safe place to live, but I think it will become safer. Not only for the residents but also for our investments. The hood might be able to shake off some of its bad rep and doing so would allow prices of homes there to increase more. So really, what does this mean?
well,
Criminals are going to move somewhere, people are going to rent homes out in other areas. It may or may not create some equality on home prices. It could also provide a safer cushion for when real estate starts its inevitable decline because houses in the hood would drop at a rate that was equal to other nieghbourhoods.
Ok so I don't make much sense, but I guess what I want to say is that the rise real estate is causing the most dangerous part of town to be a little safer, and doing so makes it a better investment for buying a house because that is where the lowest valued homes are found.
In the last few years western Canada has seen a major rise in real estate prices and suprisingly the high prices have captured many individuals to buy a house. People hoping for the prices to continue to rise have risked a lot. Many of these people have plans to only have their home for the short run, but what will they do after? What do you do when you sell your home, have made a profit on it and then going to buy a "nicer" , more accommodating dwelling? Have you really made a profit? Well sure I guess it is a way for some people to live in homes that they could stand no chance in living in during years prior to the rise in real estate...but is this smart? We all know prices will drop eventually, probably not right back down to what they were at the dawn of the millenium but they will drop. So how can we be safe? How can we save our investment?
Well let me tell you.
A small trend is happening and is easily being over looked. Many people who have sold there house in this real estate boom have bought a new one, a cheaper one. A house that has allowed them to pay off their mortgage or come closer to it, some even having excess from the huge boom that has occured. And where are these people moving to? The cheapest place in town. The Hood. It is dangerous sure, but more and more regular "safe" people are moving there. Surely this will impact the the area causing it to be safer and driving out some of the crime that is in that neighbourhood. I am not saying that it will become a safe place to live, but I think it will become safer. Not only for the residents but also for our investments. The hood might be able to shake off some of its bad rep and doing so would allow prices of homes there to increase more. So really, what does this mean?
well,
Criminals are going to move somewhere, people are going to rent homes out in other areas. It may or may not create some equality on home prices. It could also provide a safer cushion for when real estate starts its inevitable decline because houses in the hood would drop at a rate that was equal to other nieghbourhoods.
Ok so I don't make much sense, but I guess what I want to say is that the rise real estate is causing the most dangerous part of town to be a little safer, and doing so makes it a better investment for buying a house because that is where the lowest valued homes are found.
Labels: Grandeur



