Quote:
Originally Posted by Lubicon
We're talking about one building (two units I suppose) on each street, that hardly seems overwhelming. And looking at Google streetview the houses on these proposed streets seem hardly high end homes to begin with although I imaging they have a relatively high market value. The arguement about hurting their upcoming retirement due to the house value (ie investment) losing value could also be viewed as these people mismanaging their money. If your home value is going to be your primary source of retirement wealth then you had too many eggs in the wrong basket.
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If anything, the new developments might actually help to marginally increase the property values. Instead of having a run-down vacant lot there will actually be a development in place. It may not be a modern and contemporary home but at least it will be better than a vacant lot. These are tucked away at the end of the blocks along a large concrete wall any ways so the "undesirables" are kind of out of the way of the "rich" folks.