Maybe we all should have paid more attention to real estate’s “location, location, location” axiom.
Land is generally cheapest the farther it is from a city core, due to the law of supply and demand. That typically means suburban homes are thought of as more affordable.
(I know, you’re thinking about housing prices in Germantown and Collierville, but if you consider what those same homes would cost if they were in, say, Central Gardens or Downtown, well, the land value makes a difference.)
But how affordable are they really?
