I don't think it's a trend, I think it's the reality of the population explosion. There simply isn't enough housing to keep up with the amount of human overpopulation. However, "Location, Location, Location" will always be important for real estate because you can't just duplicate a location. You can always duplicate a house, but you can never duplicate a location. If people need to be in Manhattan, they will pay Manhattan prices, regardless. There will never be a new Manhattan, that's why it holds it's value so well. However, if people can't afford Manhattan, they will move along to somewhere they can afford. Boohoo, that was me! Lol, I ended up in Delaware and that migration of people from NY, NJ, MD, PA caused Delaware's prices to double in what feels like overnight. Investors are always going to gentrify an area, that's how they make the most money. In turn, folks will always flock to the next new shiny object, especially if it's affordable! So I don't think it's a trend, I think it's the reality of the play between the population explosion, gentrification, and affordable housing. My hope is that developers invest with ethics in mind because they are driving people to local governments that are not ready to sustain them. Our little town was unprepared for the influx and has just decided to raise taxes 100% causing a lot of unhappy townspeople. Now, we have the highest tax rate in the state but we don't have the best schools, amenities, or location.
