RE: On Postcode Lotteries and Property Prices...
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People are obsessed with the idea of the past.
Like, buying "downtown" property before the downtown became popular.
Buying in Beverly Hills before it becomes the haven for the wealthy.
This has come about several times, and the stories are all over the place.
However, all these speculators are doing is driving up the price of land without adding anything to the land. And, in so doing, usually stop it from becoming what it could. Sad that these "investors" usually gum up the works of that property becoming what it could have.
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I know what you mean it's a pet hat of mine, local people who have historical roots or who have to work in the area getting priced out, it's most costal areas in the UK! Especially in the SW... although this phenomenon is even more local than that, totally irrational!