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> ... you can stay and enjoy your newfound wealth I'm not sure how true this is. If you're on a fixed income, for example, an increase in the value of your pro
by titanomachy 12y ago
> ... you can stay and enjoy your newfound wealth
I'm not sure how true this is. If you're on a fixed income, for example, an increase in the value of your property doesn't do you much good unless you sell it. You could take out a mortgage... but then it's just a matter of time before you have to sell. Meanwhile the overall cost of living in your area is increasing due to the influx of wealthy residents.
EDIT: I think that if I were retired and found myself living in a neighbourhood which I could no longer afford, I would sell my house and buy a nice place in the countryside with the profits. But I can understand why some people might resist moving.