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"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). "

I'm not sure that's true. Why wouldn't those suburban McMansion neighborhoods be holding up in this down turn, and why are inner city neighborhoods in Columbus and Cleveland begining to out perform their suburban coiusins?

People are getting smarter, and realizing it's about quality of life. True, once the Manhatanization of other central cities continues, this mixed income thing becomes rarer, but it's undeniable that a heterogeneous population is more vital than a homogeneous one (with the caveat that there are no absolutes)

by Thayer-D on May 31, 2012 4:26 pm • link • report

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