The phrase 'buy the cheapest house on the block' stems from which principle of value?

Answer: Principle of Regression and Progression

Explanation: In Real Estate Regression concept, A high-valued property surrounded by low - valued homes/property will suffer or witness decrease in value.

While in progression concept, a low-valued property surrounded by high-valued homes or properties will have an increased value.

Hence, The phrase 'buy the cheapest house on the block' as it will benefit from the value of the surrounding properties.