AgLA06 said:
62strat said:
AgLA06 said:
62strat said:
EclipseAg said:
The Woodlands is 50 years old and still a desirable place to live.
yes it's 50 years old.. but very few people lived there until the 90s.
So I think it's more like 30 years old.
I bet in early/mid 90s, it was 90%+ white.
Now it's 65%.
As that number falls, desirability falls.
Except I haven't seen any indication that home prices reflecting that. Which is the first indicator of a neighborhood's downfall.
Home prices continued to go up everywhere, even real ghettos.
If you want to pull the percentage increase between the Woodlands and say third or fifth ward and see if they are the same, I'd love to see it.
But going up and going up proportional are 2 very different things.
Here are a few 3rd ward area homes;
https://www.zillow.com/homedetails/7719-Hereford-St-Houston-TX-77087/27931006_zpid/2014 cost $136k, today $340. 2.5x
https://www.zillow.com/homedetails/3349-Anita-St-Houston-TX-77004/27787539_zpid/2014 under $40k, today $315k (granted, completely renovated) 9x.
Here is one in 5th ward
https://www.zillow.com/homedetails/4408-Hershe-St-Houston-TX-77020/27813830_zpid/2014, 87k today 365k.. so 4x
Here is a not so random house in the woodlands, (the one my gf lived in when I met her.)
https://www.zillow.com/homedetails/9-Hasting-Oak-Ct-Spring-TX-77381/28771813_zpid/2014 cost 113k, today 285k, 2.5x.
I'm sure it varies as there are a lot of factors, but there's some anecdotal evidence for you that relating rising home prices to desirability doesn't work anymore, for now. It's gone up
everywhere. Especially as younger mills and gen z are trending towards buying in more run down areas because it's somewhat affordable and the whole 'less is more' idealism. (tiny homes, etc)
My office (an industrial office park off an interstate and railyard) is near an old run down neighborhood with small 50s homes. They have tripled in 6-8 years. And I see young couples moving in. Gotta start somewhere.
But I couldn't imagine a family in their mid 40s with school aged kids moving in this area. It's a dump, and it's probably 20% white.