I have an issue that I think might make an interesting topic of discussion.
There is a woman in my office who is moving in to a new home soon. She said that she and her husband were looking for the perfect place for a long time and finally came accross one. She said there was another house that they were thinking about putting a bid on but there were "black people in the neighborhood and they don't help the property value".
Now, I live in St. Louis and I am aware that there is a definitively segregated population here, but I guess I was naive in thinking that people were more accepting (at least tolerant) of other races in such an ethnically diverse metro area.
My question is: does/can ethnicity affect property value directly??? There are affluent minority neighborhoods as there are affluent white neighborhoods. What is it?
My personal reaction was first- shock, then appalled. I'm still thinking "how could someone think that?!"