The current real estate situation in the United States and its history are very interesting to discuss. In the suburbs of the United States, homes in affordable suburbs were built throughout the early and middle twentieth century. Young couples of varying economic levels—especially those in the middle classes—bought these homes and raised children. In the late 20th and early 21st centuries, the prices of suburban homes rose. This was particularly noticeable in major metropolitan areas, such as New York City, where homes both within city lines and in outside suburbs shot up through the roof in price.
Meanwhile, the prices of homes in rural areas of the country, as well as homes in less glammed-up towns and cities, remained cheaper. On top of it, there was a huge housing bubble in the early to mid-2000s. So, by the 2000s, a person looking for real estate in the suburbs of Long Island with $500,000 or $600,000 could only afford a relatively small house on a small plot of land with a small backyard. That same amount of money could buy a very large plot of land with a large house on it in a more rural, out of the way, or less glammed-up part of the United States. Someone who can’t afford New York might look into a realtor lapeer mi. It has come to a point where many people cannot afford to become homeowners in and/or around major cities.
The early 21st century saw a large occurrence of gentrification. Wealthier, artsy and more educated people started to move to inner city neighborhoods. As a result, the social atmospheres of these places were changed, and the rents were driven up sky-high. Within the course of not that many years, places in inner cities where anybody with a choice would never dare to go became trendy, fun and safe places with expensive rents. Even in neighborhoods that are not gentrified, the rents are rising.
The high costs of living in and around major metropolitan areas has resulted in people moving to less expensive places. However, as more people move to lesser populated areas, the rents start to go up and costs of living become more. This is being seen in places like Seattle and Portland.
When it comes to real estate, there is a very large racial element that determines people’s decisions and the value of areas. Whiter areas tend to be more expensive and are considered more “desirable” than areas where people of color live—even if the colored people are in the same income brackets as their white counterparts. This is especially true in America’s major metropolitan regions. It is really an unfortunate fact that a racial element like this exist, but it does.
In the past, people of color were outwardly excluded from white areas. They were not allowed to buy in better neighborhoods and were kept in “the ‘hood.” Ever since legislation was introduced in the 1960s to combat housing discrimination, along with policies put into place to encourage minorities to move into better areas, many nicer neighborhoods have seen large influxes of non-white peoples. There are many multiracial neighborhoods, though the phenomena of white flight still exists.…