Reply to Bowie rocks! Why isn't it more popular?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I have 2 colleagues, one lives in Lanham, one lives in N.Arlington both are minorities. The one in Lanham paid $260k for a SFH in Lanham in 1995, the house is worth 350k(as per him), the one in N.Arlington paid 295k for a SFH in 22207 in 1998, the house is worth 1.2million. Both are friends and the contrast in two situations is so stark to me.

I completely agree that your house should not be a part of your investment portfolio but the difference in wealth acquired will reverberate for generations. I know so many professionals who live in PG, they have gained little in real estate wealth. Things may change but these are the facts and realities of today. So, Bowie must be nice but things are good as long as you go there with realistic expectations and knowing that you may not amass much in real estate wealth.[/quote]

Isn't there a fallacy about assuming that what has happened in the past will continue to happen in the future?  Young families looking for a home TODAY will find that homes in Arlington, Bethesda, and DC have reached a price they cannot afford, while Lanham is still affordable.  That price difference is so extreme.  Which community has the greater potential for growth?[/quote]

potential for growth or change in demand by the non-African American masses? [b]The things keeping it from being in demand today will keep it from being in demand tomorrow. [/b]New areas that are more inclined to be molded to the whims of the new residents will be the ones that use their room to grow. PG will continue to be PG and it will only grow as the AA community grows and begins to counter act generations of institutional racism and build generational wealth.

Room to grow as the AA community grows, absolutely.  [b]Room to grow as the self segregating practices of the upper classes break down, that is going to take a little longer. [/b]It will continue to live and die by the success of DC but it will continue to be the last to reap the rewards compared to the other connected counties in the metro area.  That is going to have to be good enough[/quote]

I think you missed my point.  My point is that it is a fallacy to assume that people are going to continue to pay 600k+ extra for a house for the privilege of not having to look at black people.  I think the price appreciation in DC has already proved that, hasn't it?  Have you been to PG County lately?  Aside from the schools issue and the poorer areas near SE DC, it is pretty nice.  I am not black, and come from an upper middle class background, and I chose to live here, because my commute is short and I am saving a shitload of money.

Saving a shitload of money is a good, good feeling, even if your friends and randoms on DCUM feel sorry for you for moving to "PG."

My house has also appreciated a healthy amount since I moved here after the crash.  I don't know if my children will inherit a lot of money from my house, but honestly... that is not highest on my list of priorities.[/quote]

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