Instead of every one eventually regressing to some mean, the richer markets are so rising fast and far that poorer markets are getting left behind. For a long time conventional wisdom was that poorer markets will eventually catch up because richer markets would stall when the market is saturated. Trulia found that by looking into the last 30 years.
Thirty years ago, Seattle wasn’t one of those pricey cities, but now it is. That means we’ve seen some of the greatest growth in real estate wealth in the nation at 404 percent. The only regions that did much better were San Francisco (558 percent) and San Jose (497 percent). Seattle was essentially tied with Portland and Honolulu….seattle.curbed.com