While we’re on the subject of wealth we might as well talk about how real estate goes up in value.
Here’s an interesting article from Business Week that decribes the stages real estate goes through as it gets eaten up by the richer.
Keep one thing in mind as you read this. Many local [tag-tec]city governments[/tag-tec] understand this migration much better than you may think. That’s one reason why [tag-self]property taxes[/tag-self] keep going up.
They know someone richer will usually come along and pay the higher prices- and higher [tag-ice]taxes[/tag-ice].
(Note: As always, read the comments below the article. They can give you real insight on not only what people are thinking about this subject, but how they think).