Nine houses ni Kuya

Fresh chatter, which Nosy Tarsee recently heard, is making the rounds in one of Quezon City’s most exclusive enclaves.

According to residents familiar with the comings and goings in White Plains, a former top congressional leader is said to have as many as nine houses inside the village, with his security personnel using buggies to move from one property to another.

The neighborhood talk has become harder to ignore given another allegation that has attracted government scrutiny.

A former security aide has claimed the former official acquired various houses in Valle Verde to use as “cash houses.”

This brought back memories of the POGO years, when an unusual demand for large homes and residential compounds transformed pockets of Metro Manila’s high-end property market. At the height of the offshore gaming, POGO-linked demand drove up rents and property prices in areas where operators and workers were concentrated.

When that demand receded, property analysts warned of downward pressure in heavily exposed locations.

Which raises an irresistible real estate question.

If extraordinary demand can send prices soaring, what happens when an exclusive address suddenly becomes associated with unwanted scrutiny?