Gay neighbours good for your home value?
There’s no shortage of great, controversial topics on the Dollars and Sex blog over at BigThink.com.
Just take a look at the titles of a few recent posts on the site’s feed: “Ovulating Lap Dancers Make More Money” and “A Racial Gap In Condom Use.”
Again, fantastic. Each of BigThink author Marina Adshade’s articles are backed by academic research, but that doesn’t mean they’re any less divisive. Well, how about this one? “Gay Neighbours Are Good For Home Values.” That sound like something you’d like to read more of?
The latest Dollars and Sex contention, which stems from the work of a Canadian professor, suggests that the presence of gay people in a neighbourhood can help boost its real estate prices.
According to Richard Florida, a University of Toronto economist who studied 331 metropolitan cities across North America, a higher concentration of what he calls a “creative class” of neighbourhood residents not only provides a positive effect on real estate value, but may also signal a region making transitions in all the right ways.
Such a “creative class,” it stands to note, is broken down here as including “artists, bohemians and gays,” a definition which I’ll let you decide is presumptive and offensive or not.
Florida argues what’s behind such a real estate boost is the creative class’ tendency to improve the aesthetics of a neighbourhood. And you might have a problem with that notion.
Yet it’s the professor’s second point that is his most convincing. The cities that welcome and nurture such creative classes of people are usually progressive, free-thinking towns that have an accepting culture for the best and the brightest, regardless of their orientations, race or whatever.
“Acceptance increases the probability that employers will hire the workers who are the most productive,” writes Adshade, “not just the ones whose lifestyles they approve of.”
Further, then, these liberal cities are likely to be growing – in both economy and population – meaning real estate prices are sure to follow.
“The fact that gays and lesbians choose to live in these neighbourhoods sends a signal that these social norms are more prevalent than in the neighbourhoods they choose not to live in," Adshade concludes.
“The fact that house prices are higher is an outcome of the economic growth created by the social norm of acceptance, not necessarily an outcome of the people the acceptance attracted into the neighbourhood.”
By Jason Buckland, MSN Money
Posted by: Tjäna Pengar | Oct 24, 2021 3:37:49 PM
I think its great for home value!
Petter Hedman
Posted by: Mark | Oct 25, 2021 6:02:08 PM
Gay people raise house prices ? Well that would depend on the Gay people, no ? Some neighbours yes, others no ? That is like saying blacks are Lazy, Jews are rich, and the Irish would be drunk and drinking ? Really.
Posted by: merv | Oct 25, 2021 11:29:44 PM
Rome also had it's gay community filling their parlament and look what happened to the Roman Empire of the day.
Posted by: Best Savings Rates | Oct 29, 2021 5:42:37 AM
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Posted by: Majone | Oct 29, 2021 5:45:12 AM
Hi,
The latest Dollars for money in India.Each party must disclose enough information to make the negotiations viable, but neither wants that information made public if the negotiations fail. If negotiations go well, additional non-disclosure information will be incorporated into the joint venture agreement to protect additional information revealed during the joint venture. In the Bank.
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Posted by: Hanna | Aug 29, 2021 4:30:33 PM
Haha its GREAT for home value. You know it.