Before they “earned” their own designation — the millennial generation — we called the children of baby boomers the “echo boom,” because everything had to be about us, the baby boomers, or more appropriately, the “me” generation, a term that still evokes a shudder.
Joey Garrison’s story this week on how hot the housing market is in Nashville provided a reminder of the generational nature of fortune, and of what Mark Twain reputedly observed about history:
“History doesn't repeat itself but it often rhymes.”
The headline on Garrison’s story had the rhythm of a rhyme for me, echoing the housing markets of 1980s Raleigh and Charlotte, where I was beginning my first career. Though neither of those towns had then quite the feeling that Nashville has now, both cities were experiencing inner neighborhood rebirths and strong job growth. Those who could afford to buy a home in one of the traditional and transitioning neighborhoods were rewarded.
Garrison reported that Davidson County Property Assessor George Rooker Jr. estimates that the average increase in residential property values in Metro’s next property reappraisal, in 2017, will be between 33 and 37 percent over the appraised values in 2013.
That appreciation in value compares quite favorably to the estimated ...