Like it or not, market forces are turning home buyers eastward.
Accordingly . . .
Economists will have to decide if Prez Biden is to blame but denying the impact of the current housing crisis, worsening inflation and threat of a recession is no longer an option.
Here's more bad news . . .
"The average sale price for home on the east side has climbed more than $30,000 since 2020. It now sits at $153,303, according to the KC's Regional Association of Realtors.
"'This area's prices are depressed or undervalued and that makes it easy to buy and live here, but displaces those who couldn't afford the opportunity to own in the community that they occupy,' Ajia Morris with The Greenline Initiative said.
"Morris and her husband live on the east side. They founded the Greenline Initiative.With property values going up, she worries what it will mean for renters. Morris said more than 60% of people living in east Kansas City rent."
Read more via www.TonysKansasCity.com link . . .
KANSAS CITY, Mo. - An often overlooked and underserved part of Kansas City is getting attention during the housing crisis. According to the Kansas City Regional Association of Realtors, home prices on the east side have gone up by more than 25% in the last two years.
According to this metric, homebuyers are now getting stretched financially at a level not seen since 2007.
The Federal Reserve Bank of Dallas made headlines in recent weeks after warning that there are signs of a "brewing U.S. housing bubble." That prospect sparks fear in anyone who remembers or felt the impacts of the housing market crash that hit America during the 2008 financial crisis and subsequent Great Recession.
Welcome to America's new 'Zoomtowns,' where an invasion of remote workers with big-city paychecks is driving long-time locals into tent cities and homeless shelters
There's a certain gloss associated with recent transplants in " Boz Angeles." The new nickname for Bozeman, Montana, is a wryly derisive nod to the cultural and economic changes spurred by new arrivals, and to their presumed origin.
A big development broke ground in the 18th and Vine District Wednesday.
Developing . . .