Saturday, April 27, 2013

Hiding from Poor People is Expensive

I stopped by the Blackstone homes models in Brea today. A fairly boring housing track isolated from anything of interest. It was sort of on a hill, but it didn't seem like there was any kind of view to speak of.

What was impressive was the price. For homes which are virtually identical, prices in Brea were ~200k higher than new homes in La Habra. These developments are only five miles apart. From what I can tell almost the entire price difference comes from less poor people near the homes in Brea. It is amazing what people will pay to hide.

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