Speculators in Exurban Bubble Markets
29th September 2008
Steve Sailer is always worth reading.
The family you sell it to will, no doubt, be moving to the exurbs to get their kids away from all the Guatelombians in the LA public schools. It’s not like Bush is going to close the borders and stop the flood of Guatelombians. So, there will always be refugees looking for “good schools.”
That’s one reason, you realize, why these new homes in the exurbs tend to be so big — they’re expensive in the hopes of discouraging low rent people from moving in next door. Sure, they cost a fortune to air condition during Lancaster’s summer (March-October), but it’s all in a good cause.
You start shopping around outside Lancaster. The Cypress Creek Estate sales agents talk about the new high school that’s going to be built to serve these new neighborhoods. It will be diverse, but not too diverse, if you know what I mean. Two-thirds white, one fifth Hispanic, enough Asians to show your neighborhood’s a good investment, enough blacks so that the football and basketball teams will be competitive. Sounds good!