How will a return to neighborhood schools reshape property values in Raleigh and Wake County?
As noted in today's article by Sarah Ovaska, one person told Raleigh real estate agent Anne Sherron that he's backing out of a deal because of the school board election results. She said the person had been looking at moving his family and his start-up technology company to Raleigh from Austin, Texas.
“He emailed me and said I’ve put my decision on hold indefinitely until I see whether Raleigh is going to end up like Charlotte,” said Sherron, a supporter of the diversity policy, in the article.
John Chesser, a researcher with UNC-Charlotte's Urban Institute, found that Charlotte-Meck's switch to neighborhood schools hurt the property values of schools whose poverty percentages shot up.
Raleigh Mayor Charles Meeker, who attended the Friends of Diversity press conference, is worried about property values in Southeast Raleigh falling if major changes are made to turn magnet schools into neighborhood schools.
On the flip side, some areas could see a boost in property values if there's a belief that reassignment is less likely.
The areas around rim schools could also benefit if they lose the kids who are bused in for diversity.