Housing Boom In Baghdad
Jodi at Webloggin on Jan 29 2008 at 6:20 pm | Filed under: Feature Article, Iraq
It looks like the surge had a positive impact; that is if the housing boom in Baghdad is any indication. Apparently people are returning to Baghdad because violence has gone done and Baghdad is now being viewed as a safe place to live.
The LA Times reports:
Soaring prices. Precious few homes. Bidding wars. Sound like Southern California a few years back? Welcome to an unexpected bright spot in global housing: Baghdad.
Attracted by news of decreased violence, thousands of displaced Iraqis returning to Baghdad’s safer neighborhoods are fueling a bit of a real estate frenzy.
Last year, home prices plummeted and rents dropped as Iraqis left town in search of more stability. But now, some say it’s almost impossible to find a suitable place to live, with sales prices doubling in certain neighborhoods and the most affordable homes being snatched up as soon as they’re on the market.
