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Bubble-Proof Housing Markets?
Posted By Jim On 10/27/2006 @ 1:03 pm In The Home | 8 Comments
According to the experts over at Business 2.0, there are five bubble-proof markets. They’ve listed those markets, their historical appreciation rates (from 1949 to 2006, national average is 2.3%), and the reasoning why they’re “bubble-proof.”
1. San Francisco – 4.2% appreciation rate – The reason they give for this area being bubble-proof is because of the abundant green space and the fact that builders can’t build on the green areas like Treasure Island, Presidio, and the Marin Headlands.
2. Los Angeles – 3.7% appreciation rate – The reason for LA being bubble proof is that there’s no more room, 75% of development is in areas filling out Los Angeles.
3. Seattle – 3.2% appreciation rate – Another bubble-proof city protected by the fact that you can’t make any more land, recently the city council approved new zoning laws that removed restrictions on building heights downtown.
4. Boston – 3.0% appreciation rate – The first non-West coast city listed and the first city protected by something other than the fact that there is no more land, Boston’s bubble-proofness is the result of strong wage growth.
5. New York City – 3.0% appreciation rate – It’s New York City.
via Business 2.0 .
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