“Why will puppies try to eat almost anything? Because you never can tell, that’s why.”
I was a skeptic, at first. I was bearish on everything south of the I-10 in Avondale – and that kind of “redlining” is not wrong for investors: Values will lag if there are already too many rentals in the area. This is nothing but economics, so it might be kinder to call it “greenlining.” Regardless, Coldwater Springs not only enriched the community, it has pulled up its entire corner of town.
This is ongoing, first with better-heeled new subdivisions in competition nearby, then with commercial development along Van Buren Street and Avondale Boulevard, and now with a new freeway exit, a coming-soon fire station and easy access to the best charter school in the state.
Coldwater Springs is a bet that continues to pay off. If you’d like to own a piece of it, I have an investor opportunity going on the MLS on Thursday. Occupied by wonderful tenants, under lease until 1/31/2022 and eager to renew, the house is the 1524sf Lavender floorplan – very popular, consistently punches above its weight – on a premium corner lot. I hate to lose the house and the tenants, but we’ll be in the neighborhood for another twenty years, at least.
In other news:
CNBC: May existing home sales drop for a fourth straight month as affordability squeezes buyers out.
The New York Post: Most big cities have become more racially segregated: study.
Daniel Greenfield: The Small Secessions of the New Civil War: Neighborhoods secede from cities, cities from counties, and counties from states.
Brad Polumbo: We Just Got Even More Proof that Stay-At-Home Orders Lethally Backfired.
Joel Kotkin: The battle between the two Americas.
