02-01-2022, 09:40 AM
Actually I see new homes rising around us here on the Shore every time I go out. After a long drawn out period of all talk and no digging, all of a sudden cloned apartment blocks are going up all over the place - private developments, while the state is developing several large groups of social housing - multiple unit blocks that should be homes for lots of people by the end of this year.
But, whether that will significantly spike the rising property prices is all guesswork. I doubt it personally, the few who own land are not too willing to let those values drop despite the fact it is all paper wealth. And I am not convinced apartments are going to replace actual homes on actual land for many of us, though getting smaller is definitely a trend to be welcomed.
The reality is until the gaps close more, the inequity in our community will continue and that is not good for any of us, long term.
But, whether that will significantly spike the rising property prices is all guesswork. I doubt it personally, the few who own land are not too willing to let those values drop despite the fact it is all paper wealth. And I am not convinced apartments are going to replace actual homes on actual land for many of us, though getting smaller is definitely a trend to be welcomed.
The reality is until the gaps close more, the inequity in our community will continue and that is not good for any of us, long term.