[engineer_22]

Have you accounted for development induced appreciation? Perhaps a similar home further from the city center would be a more suiting comparison?

Anecdotally, in central New York housing prices have gained only modestly. The 2008 financial crisis didn't have a large effect on prices here either. But... development in central New York is near zero.

[kevin_thibedeau]

The Amish are fleeing high land prices in Pennsylvania. There is development of a sort.

[agent008t]

Given that good jobs remained in the city center, and commutes are not faster than they used to be, the point is not very relevant.

[engineer_22]

I think that the internet has eliminated the commute for a lot of service sector jobs. I think that a lot of jobs remain in the city center only because that's the way the older generation has always done it.