In her November "Culture and Commerce" column for The Atlantic Monthly, former Dallasite Virginia Postrel complains about the resale value of her Uptown town home -- which is now worth "$6,500 less than we paid for it" in 2000. Why? C'mon, you know why: "The supply of housing in Dallas is elastic. When demand increases, because of growing population or rising incomes, so does the amount of housing; prices stay roughly the same."
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In the meantime, Postrel and her husband's "mid-1970s three-bedroom town house in Los Angeles" is worth twice what it was in 2000 -- though, on the downside, it's in Los Angeles. Which, having actually lived in Los Angeles for 19 months in 1996 and '97, I don't really consider much of a downside, come to think of it. --Robert Wilonsky