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Obviously their choice to live in the neighborhood doesn't signal desirability, only their ability to take out a 800,000$ dollar mortgage.

That's the thing - at or near the very top of the list of things that make a neighborhood "desirable" to a large percentage of people IS the fact that all of their neighbors have the ability to take out an $800,000 mortgage (or whatever price level it is). Many of the other indicators - lot size, school quality, maintenance and upkeep of properties, etc. - are functions of the wealth level of residents. The chain of logic runs the other way: it's not that you want to exclude poor people from your desirable neighborhood, it's that your neighborhood is desirable specifically because it is sufficiently exclusive that few to no lower-income people can locate there. A significant number of lower-income people would make it less desirable ipso facto.

I don't agree with this logic - although I understand it and admit that it does "work" for the wealthier residents of many areas - but many do.

by Dizzy on May 31, 2012 3:28 pm • link • report

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