I Self Lord & Master;9057428 said:
D. Morgan;9057409 said:
LPast;9057051 said:
Sad ish...
With Gentrification, correct me if I'm wrong... These people don't own anything correct? They are just renting and being priced out of their homes?
So if I'm renting out a condo for $1500 a month, but the next tenant is willing to pay $4000 or willing to buy of from me for $500K. I sell, for $500K. The original tenant is priced out of the home I OWN.
Is this an example of gentrification on a small scale?
Its a fucked up game. A person can own their house for generations but if you can't pay the property tax increase you either have to move or lose the house.
soooooooooo many niggas who inhereted houses (most of which is in now consideres "the hood" ) lost inherited property passed down from the 40s onward. im speaking on personal observation here. my goddamn childhood block n beyond.
largely a byproduct of deindustrialization. ..what brought niggas to these cities up n left
I have seen it and been personally hurt by the shit as well.
The shit is so fucked up because you got grandparents and parents who fought and lived through jim crow and shit like that who worked so hard to own a home. Pass the house down to their kids or grandkids just to have them lose the fucking house cause they junkies, in and out of jail, ain't shit or didn't know they had to pay property taxes. Then get hit with back owed property tax bill that is a couple of thousand and can't pay it so now they take short money and sale the house or just flat out lose it cause they never even respond to tax notice.