
NextCity
August, 22, 2024
Alex Cabral
Picture the wood-paneled, shag-carpeted living room of a single-family home built in the 1960s, furnished by its proud first owners with a giant orange sectional sofa and tripod globe lamps. They raise children who grow up, move out and start their own families, and when they’re ready to sell the house, its value has appreciated substantially. Yet it’s still affordable enough for a next-generation young family to buy it, replace the paneling with eggshell-painted walls, and rip out the carpet in favor of hardwood flooring.