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> everyone who bought a square of land in a "city" since the 1970s or so and held for at least a decade has won big regardless of where Not true at all, look a
by throwaway201103 6y ago
> everyone who bought a square of land in a "city" since the 1970s or so and held for at least a decade has won big regardless of where
Not true at all, look at Detroit, Gary, or any midwest "rust belt" town. Abandonded properties everywhere, can't find buyers even at tax sale prices.
- throwaway0a5e 6y agoI live in one of those sorts of cities. Detroit is their own doing because of local tax code. There's a decent amount of "there was a falling down commercial building here so we bulldozed it and then just let it sit" type of lots kicking around in other cities but the lots have still increased in value (i.e. inflation has happened) enough that mostly nobody is underwater and anyone looking to get out can do so without losing money.