Forbes recently published a list of America’s most overpriced zip codes and no one in our ‘hood, made the list, but a couple neighborhoods on the fringes of Highland Park did. Dallas’ Greenway Parks and Devonshire neighborhoods in the 75209 came in at No. 8.
California had the most cities on the list. Forbes goes into detail regarding how they tallied their results—
Basically they went through ZIP codes in the nation's 40 largest cities, comparing rental costs with buying costs for similar properties, based on number of bedrooms, location and price per square foot.
My first thought is wow, man, what it would be like to work at a publication where you have the spare time and resources to compile all these minimally useful lists and data ...
A quick amateurish browse of listed real estate shows you can get about the same thing in Lakewood as Greenway Parks for about the same price (i.e. a 3,930 sq. footer goes for about $879,000 in either), but Lakewood isn’t list-worthily overpriced. It’s the location, apparently — buy Lakewood and you get close proximity to the lake, and trails, trees and hills … buy Greenway Parks and you get close proximity to Park Cities.
Seriously, GP is a gorgeous neighborhood — but if I had a million or two to spend, I'd choose the White Rock area ANY DAY.
Thanks for the fodder, Forbes.
They chose one area in each metro area, so its not like the worst part of here is worse than second worse part of Vegas or San Jose. The worst areas here are still faring better than everywhere in many places.
Also, it was based on rent to mortgage ratio. What's for rent over there? I don't see any comps on Craigslist...
Posted by: Alex | Sep 18, 2008 at 05:00 PM