By Dr. Mike Walden
Almost 40 years ago, my wife and I bought our first home. As a wet-behind-the-ears Ph.D. economist, I wanted to impress my wife with my knowledge of real estate by stating the “iron law of real estate.”
I confidently explained the “law” to her this way. “With a limited budget, people who value space, like square footage, over accessibility to work, shopping and other amenities, buy a home farther out.