Quote:
Originally Posted by suburbanite
I'm more surprised by the quality of the facades and general cleanliness than the overall price. Assuming they were purchased for <$100,000 in what's seen as a less desirable city nieghbourhood with problems, it's surprising that the household wealth is there to support the upkeep and repairs that come from owning a decently large prewar home.
My sense of what's a normal income/house price ratio is probably skewed though. I guess there's no reason to assume a family in Bagley isn't earning >50% of their home's value every year. The opposite of the "house-rich, income poor" in many distorted markets.
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It's not a less desirable neighborhood. It's a predominantly black middle-class neighborhood. The residents probably either work in city government, the school system, or for one of the Big Three. Maybe some health care professionals as well.