Housing Market Leading Indicators
What are the signs that a neighborhood is about to be christened that most coveted of labels, “up-and-coming?”
Such enterprises are budget-conscious, so need to find parts of town with cheaper rent.
But, they need to be close enough to prospective patrons that they’re convenient, easy to find, etc.
In truth, there’s an interplay between good, new restaurants and appreciating home prices: interesting local food (and other neighborhood amenities) makes the surrounding area more desirable, which pulls in residents with more disposable income, which attracts yet more amenities (can you say, “Brooklyn?”).
Eventually, the “up-and-coming” neighborhood sports rents and amenities typical of established (“arrived”) neighborhoods . . . and the cycle repeats somewhere else.
P.S.: Which Twin Cities ‘burb meets many of the above criteria?
My candidate is Robbinsdale (yes, Robbinsdale).