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  • 04-01-2020
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The phrase 'buy the cheapest house on the block' stems from which principle of value?

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fichoh fichoh
  • 04-01-2020

Answer: Principle of Regression and Progression

Explanation: In Real Estate Regression concept, A high-valued property surrounded by low- valued homes/property will suffer or witness decrease in value.

While in progression concept, a low-valued property surrounded by high-valued homes or properties will have an increased value.

Hence, The phrase 'buy the cheapest house on the block' as it will benefit from the value of the surrounding properties.

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