Thursday, December 6, 2007

Big Bucks on Buckingham

A trip down Buckingham to Yarmouth to Westwood in Coley Forest reveals some interesting developments there. This neighborhood is one of Raleigh's hidden treasures, a thoroughly wooded, settled suburb dating back to the 50's and 60's. Because the houses are larger than the inner ring recovery-era houses, this neighborhood has been home to growing families for decades.

It looks like the building boom began as it usually does, a small dated house on a large lot (or two) gives way to a new larger home. Then it happens again, and again, and before you know it, Big Foot arrives.

Once this level of contrast begins, the real estate game is on. Like the Gold Rush, the momentum rises and the speculators arrive, loans in hand, to cash in on the opportunity.

There seems to be a money tree growing in our midst. Neighborhood by neighborhood, house by house, our way of life is challenged.

It raises important questions. I hope we have the guts to ask them.

Take a Sunday drive down any of the roads on our Magical Missinghouse Tour and the envision Raleigh of the future -- is it a place you will call home?

No comments: