Some people are going to think this is political (because it seems everything needs to be politicized) but it is not.
What is the primary cause of a high cost of living? Housing. High property values and high rents. What causes those? Demand. Despite those high taxes in Burlington and Chittenden County (and frankly urban areas across the country) there is still enough demand to keep property values rising. If high taxes were such a negative, housing values would fall. Why is Chittenden County booming while many areas in the state are losing population? Because people want to live there. If you don't, all the better, sell your house at a nice inflated value and move some place cheaper.
That demand also causes higher prices in all those urban shops and restaurants. Why? Higher rent. But still, despite those ungodly high rents, you won't see any empty storefronts in Burlington. Demand.
Why are so many houses and condos going up in South Burlington? Because they will bring a premium price. Cha-ching for the builder.
And that same Subaru might cost you more at Burlington Subaru than a lot of other dealers across the country. Why? Because they can. Demand.
If the cost of living is high in some locale, it's primarily because people want to live there.
100% Though I really wish developers would have some incentive to build single family homes. The demand for those is INSANE and everything that is being built is big condo/apartment complexes (have you seen the size of the project where the catholic convent is on north ave?!) I KNOW it is more money for less pay out but damn a few more streets of under 400k starter homes (3 bed/2bath and a nice simple layout with a damn mudroom) would be AMAZING. sigh.... but yes we live in Burlington for a reason and pay the cost for a reason. what is the old saying... location location location :)
ReplyDeleteWell said Tessa. I think there is plenty of demand for those condos, and of course more units to be sold. Whenever I see a new building or reno I think, someone is trying to make money here. As always thanks for reading!
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