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It's the lower middle class who used to be able to afford to own a home in these areas that now can't, that are really hurt. I've seen this happen in small town
by j2bax 10y ago
It's the lower middle class who used to be able to afford to own a home in these areas that now can't, that are really hurt. I've seen this happen in small towns around rural upstate NY in the adirondack park where wealthy people from the city spend massive amounts of money on property and spend a holiday or two per year in them. The economies of these small towns are generally almost non existent and the couple holidays a year isn't enough to lift them up to match the ridiculous rise in real estate and property. It's a really unfortunate situation.
- wbl 10y agoSmall town in rural area seems could enable more construction so that people could live in new houses. Don't forget second homes pay taxes.