City Modern Brush Park

[emu steve]

No, if they are selling they are not “over priced.” You might think the price is ridiculous and perhaps it is. But it’s only overpriced if nobody will pay that price.

Maybe. There are housing bubbles too when housing is speculatively priced. And these would take a big hit if there are any kind of problems [[e.g., financial downturn) to cause housing prices in downtown/Midtown to correct.

I think these housing units are speculatively priced, which, to me, means more downside risk than upside potential. This is a new neighborhood, not an established neighborhood where price levels have been established over time.

One way I consider or define speculation in housing is to price in what has not yet occurred. In this case, for 500 - 1,000 more housing units to be built in Brush Park. No one wants to pay top dollar for a house only to have a field of weeds across the street [[a housing development located in a sparsely developed area is possibly a risky investment unless more development comes, as planned.)