17 Mar 23
@averagejoe1 saidOf all the anti-capitalist complaints I see in the media and on social media "my neighborhood is getting too nice" always struck me as the strangest.
SH76, sadly this is greek to the liberals on this thread..... Huh??
But don't follow the 'buy low sell high' advice, you will get richer than the libs and then they will come for you!!! Not fair!!
17 Mar 23
@sh76 saidIn reality most people are not that financially canny and are easy prey for aggressive buyers.
The sell for a big profit and buy a better house in a non-gentrified neighborhood and hope the same thing happens there and you can keep trading up.
17 Mar 23
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@sh76 saidSh... You miss so much in these posts.
Of all the anti-capitalist complaints I see in the media and on social media "my neighborhood is getting too nice" always struck me as the strangest.
Your neighbors house is bought sight unseen by someone fleeing California. They tear down a modest ranch and build a giant mcmansion, just like so many other homes in the neighborhood. The local watering hole taqueria also sells to a vegan smoothie vendor. Youck.
All of this raises your property value a lot. But you're not a real estate investor. You plan to live in the neighborhood to see your kids through high school. But your property taxes doubled, your local restaurant is gone, your neighbor is a rich a-hole who drives too fast.
Your neighborhood is not any nicer. This is only a good thing for the investors.
17 Mar 23
https://gazettechicago.com/2020/02/new-anti-gentrification-ordinance-aims-to-deter-developers-predatory-tactics/
Sigcho-Lopez explained pressure tactics do not stop with phone calls and mail; they escalate to calls to inspectors about possible code violations. As a result, inspectors go to homes and find issues, requiring homeowners to pay thousands of dollars to remain up to code, putting further pressure on them to sell. Such escalation overwhelms residents, particularly seniors who are more susceptible to such schemes, Sigcho-Lopez said.
17 Mar 23
@sh76 saidFor many cities and suburbs, this means changing school districts, changing jobs, making new friends.
The sell for a big profit and buy a better house in a non-gentrified neighborhood and hope the same thing happens there and you can keep trading up.
For what? A few extra bucks? Many people, probably most people, would prefer to keep their low property tax bill.
17 Mar 23
@averagejoe1 saidIt is problematic to view all homes as investments. Yes , they are in a way, but many are viewing home ownership as a way to achieve stability in life, raise kids in one specific school district, minimize commutes to work, grow old, throw block parties. If we're all just in it for the money at every decision point, life is a lot less enjoyable.
SH76, sadly this is greek to the liberals on this thread..... Huh??
But don't follow the 'buy low sell high' advice, you will get richer than the libs and then they will come for you!!! Not fair!!
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17 Mar 23
@wildgrass saidYou still have to look at it as an investment and be smart about buying if you plan on staying there and being able to enjoy the things mentioned. Just about all of the houses I’ve done have been in foreclosure or short sale like the one I’m doing now. The house I raised my children in was bought off the courthouse steps in a auction.
It is problematic to view all homes as investments. Yes , they are in a way, but many are viewing home ownership as a way to achieve stability in life, raise kids in one specific school district, minimize commutes to work, grow old, throw block parties. If we're all just in it for the money at every decision point, life is a lot less enjoyable.
@wildgrass saidSo what? Neighborhoods change. That's the nature of the beast. If you don't like vegan smoothies, don't buy them. They offend you? So, move. If my neighbor is an a-hole who drives to fast, who gives a F whether he's rich or not? There are rich a-holes and poor a-holes. Gentrified communities aren't any more likely to have a-holes than non-gentrified communities (I don't go so far as to say they're less likely, as that would sidetrack the thread).
Sh... You miss so much in these posts.
Your neighbors house is bought sight unseen by someone fleeing California. They tear down a modest ranch and build a giant mcmansion, just like so many other homes in the neighborhood. The local watering hole taqueria also sells to a vegan smoothie vendor. Youck.
All of this raises your property value a lot. But you're not a real ...[text shortened]... drives too fast.
Your neighborhood is not any nicer. This is only a good thing for the investors.
Even property tax doesn't necessarily go up. Property tax is a function of local spending, not of real estate values. On the contrary, if everyone around you builds mansions, their homes are now worth greater shares of the over-all tax base, making your house worth a smaller % of the over-all tax base. Even if your house appreciates relative to where it was last year, you property tax will go down, assuming consistent local government spending. If your local government increases spending, well, that's democracy. Vote in people you like.
Richer people moving is does not inherently decrease your quality of life. The only guarantee with gentrification is that your property value goes up. Everything else is subject to the same variables as every neighborhood is subject to.
17 Mar 23
@athousandyoung saidThat's block-busting or harassment, not gentrification. While the two may be correlated, one has nothing inherently to do with the other.https://gazettechicago.com/2020/02/new-anti-gentrification-ordinance-aims-to-deter-developers-predatory-tactics/
Sigcho-Lopez explained pressure tactics do not stop with phone calls and mail; they escalate to calls to inspectors about possible code violations. As a result, inspectors go to homes and find issues, requiring homeowners to pay thousands of dolla ...[text shortened]... esidents, particularly seniors who are more susceptible to such schemes, Sigcho-Lopez said.
17 Mar 23
@athousandyoung saidYou're saying people are too stupid to call a real estate agent when they're thinking of selling? Or even to go on Zillow and get at least a vague estimate?
In reality most people are not that financially canny and are easy prey for aggressive buyers.
You think people simply sell out for a song because some suit knocks on their door?
Let me know which world you're living in. Maybe I'll come and buy some houses and flip them.
17 Mar 23
@sh76 saidMaybe because you own your home and are not worried your landlord will quadruple your rent next month or cut off your utilities ( with no repercussions) to get you to leave.
Of all the anti-capitalist complaints I see in the media and on social media "my neighborhood is getting too nice" always struck me as the strangest.
(just one argument)
17 Mar 23
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@sh76 saidSo what? I was responding to your absurd premise that gentrification makes neighborhoods nicer. In fact, that is not the case. Objective metrics such as higher tax burden on current residents are not nice. Higher cost of living requires residents to make uncomfortable changes to their finances. Not nicer.
So what? Neighborhoods change. That's the nature of the beast. If you don't like vegan smoothies, don't buy them. They offend you? So, move. If my neighbor is an a-hole who drives to fast, who gives a F whether he's rich or not? There are rich a-holes and poor a-holes. Gentrified communities aren't any more likely to have a-holes than non-gentrified communities (I don't go so fa ...[text shortened]... value goes up. Everything else is subject to the same variables as every neighborhood is subject to.
Of course. Nature of the beast and what not. you argue the obvious. The fact that gentrification happens is not the point of the thread. Gentrification is not a good thing for current residents of neighborhoods who are planning on staying there long term.
17 Mar 23
@wildgrass saidThe point is, there may be drawbacks to a complex phenomenon and someone pointing them out is not "strange" as sh put it.
So what? I was responding to your absurd premise that gentrification makes neighborhoods nicer. In fact, that is not the case. Objective metrics such as higher tax burden on current residents are not nice. Higher cost of living requires residents to make uncomfortable changes to their finances. Not nicer.
Of course. Nature of the beast and what not. you argue the obvious ...[text shortened]... not a good thing for current residents of neighborhoods who are planning on staying there long term.
17 Mar 23
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@sh76 saidJust cold call old people all day. A small percentage will be senile or desperate.
You're saying people are too stupid to call a real estate agent when they're thinking of selling? Or even to go on Zillow and get at least a vague estimate?
You think people simply sell out for a song because some suit knocks on their door?
Let me know which world you're living in. Maybe I'll come and buy some houses and flip them.