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NEWS via NOLA: Putting hip on the map: Real estate markets heat up when a neighborhood turns cool

March 17, 2014 // 0 Comments

Putting hip on the map: Real estate markets heat up when a neighborhood turns cool By Richard Campanella on March 12, 2014 at 9:00 AM, updated March 12, 2014 at 8:25 PM “Location, location, location,” the real estate adage goes. In fact, a number of complex variables drive the value of land, particularly for residential areas. They range from schools and quality of life, to amenities and safety, to prejudices, perceptions and social status. In recent decades, a new variant of social status has entered the real estate equation, and it has since transfigured downtown New Orleans and other American cities. It’s the curious cultural phenomenon known as cool. Neighborhoods that a decade or two ago were viewed as dirty, dangerous and disregarded now rank among the region’s hottest real estate markets, turned around courtesy of an emerging social charisma that may be described as “hip” or “cool.” Among them are Bywater and adjacent areas down [...]
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