Here’s the situation: You want to live downtown, but all the neighborhoods you’ve looked at are way out your price range. Wouldn’t it be cool if you could spot the next “hot” neighborhood before it’s hot? You’d get a great property for cheap, and end up living in one of the most desirable spots in town.
This is exactly what happened to New York City’s SoHo. Back in the 1970s, SoHo was little more than a warehouse district. Then, artists moved in because the rent was so cheap, and they got bargain prices. Now? It’s one of New York’s trendiest neighborhoods.