Value concepts
Progression and regression
A property’s value is pulled toward the values of those around it
Progression lifts the least expensive house on a street of larger homes; regression drags down the finest house in a modest neighborhood. Both are consequences of the principle of conformity — that value is maximised where properties are reasonably similar.
How the exam asks about it
The classic warning against buying the best house on the worst street is a regression question wearing ordinary clothes.
Related terms
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