Crime ridden neighborhood gets gentrified into prosperous one, residents angry

[Theodore]

She needs to call the lifer politicians who set her property taxes and appraise her home.

Austin sees this as well.

You have minorities in areas getting gentrified, and they whine about their high property taxes.

But every election they line up to vote for the very same people who have been jacking up their property taxes.

"Stupid voters" do stupid things.

They voted for the high taxes, so I hope they enjoy paying them.

The way I see it is this: Listen people, you can have $250 rent and a young nephew or niece in the hospital once in a while with gunshot wounds, or you can pay $600 rent and have peace and quiet.

The black lady in the story, if she were to sell in this climate, this would be the equivalent of hitting a small lottery jackpot for an elderly black woman. If she can no longer afford the current expenses, she could purchase a home in keeping with her current budget and pocket a very handsome profit.

Or she can rent out to the invaders ( which are white hippies/hipsters/yuppies). If I owned a home there, I’d up my income potential by renting it out and having a property management company take care of renting it to whitey and using it to build generational wealth.

[////]

It is directly responsible for some of the many (60,000!) homeless in LA.

I saw far more flight than gentrification in LA over the decades. The groups we would traditionally call "gentrifiers" are just flat out leaving the city & state.

The rent problem seems more like a combination of sheer foreign influx (which has maintained massive rental demand while simultaneously depressing wage expectations) and the regulatory costs/risks of being a landlord in such a place.

There are a small handful of truly gentrified areas like parts of Hollywood where the hipsters congregate, but not nearly enough to compensate for the flight and less than a drop in the ocean compared to the foreign immigration rates.

[////]

The way I see it is this: Listen people, you can have $250 rent and a young nephew or niece in the hospital once in a while with gunshot wounds, or you can pay $600 rent and have peace and quiet.

The black lady in the story, if she were to sell in this climate, this would be the equivalent of hitting a small lottery jackpot for an elderly black woman. If she can no longer afford the current expenses, she could purchase a home in keeping with her current budget and pocket a very handsome profit.

Or she can rent out to the invaders ( which are white hippies/hipsters/yuppies). If I owned a home there, I’d up my income potential by renting it out and having a property management company take care of renting it to whitey and using it to build generational wealth.

It's one of those words where you gotta read between the lines...

I don't know anyone who complains about "gentrification" because when property values started shooting up in LA we pooled our modest money into property and cashed in on it. A place we already lived becoming a guaranteed multibagger investment, bad? WTF?

I think it's more an education thing. Like if you're so unsocialized that you win the lottery but can't read the numbers and use it to wipe your ass/flush it & spend your last $600 fixing the clogged toilet. That's gentrification.

[GGG Gloveking]

White people ruining everything

[GhostofDempsey]

A big part of what is causing housing shortages and rent hikes is Airbnb. Many landlords choose to go the Airbnb route for more money and less headaches from deadbeat tenants. This is particularly common in many big cities like NY, SF, DC, etc.

As for gentrification, I would say the pros outweigh the cons. I lived in a neighborhood that went from hood to upscale and while it sucked to see the mom and pop stores close up shop, it was nice not having to look over your shoulder or be serenaded to sleep by the sound of gunfire and car alarms.

[1bad65]

The way I see it is this: Listen people, you can have $250 rent and a young nephew or niece in the hospital once in a while with gunshot wounds, or you can pay $600 rent and have peace and quiet.

The black lady in the story, if she were to sell in this climate, this would be the equivalent of hitting a small lottery jackpot for an elderly black woman. If she can no longer afford the current expenses, she could purchase a home in keeping with her current budget and pocket a very handsome profit.

Or she can rent out to the invaders ( which are white hippies/hipsters/yuppies). If I owned a home there, I’d up my income potential by renting it out and having a property management company take care of renting it to whitey and using it to build generational wealth.

That's what some do. And they come out way ahead.

Some sit around and whine, and they see different results.

[Theodore]

It's one of those words where you gotta read between the lines...

I don't know anyone who complains about "gentrification" because when property values started shooting up in LA we pooled our modest money into property and cashed in on it. A place we already lived becoming a guaranteed multibagger investment, bad? WTF?

I think it's more an education thing. Like if you're so unsocialized that you win the lottery but can't read the numbers and use it to wipe your ass/flush it & spend your last $600 fixing the clogged toilet. That's gentrification.

I do.

when crime had taken over the intown neighborhood

By the 1970s, more than half of the population had abandoned the area as drugs, gang violence and a migration to the suburbs took hold

Note the passive voice. They write about “crime” and “violence” like they’re just things that happen, like rain and snow.

[Anthony342]

Yeah, why doesn't she just sell her house for a hefty cash price, put the money in a checking and money market accounts possibly, and find a nice apartment to rent for the 3 of them. There's gotta be a decent place she can find for her income, especially if the nephew can get a job.

[Zaroku]

Nothing changes. High income people move into an area, more money is invested on fixing it. The low income people move somewhere else, that area deteriorates as no one cares to spend to maintain it.

One area gets nicer, one area gets worse. In the big picture, there is no net benefit. The only people who win are the people who bought the property when it was cheap.

As for the other people, they are either milked dry for the cost of new developments or are eventually priced out after gradually seeing the neighborhoods they grew up in lose their character.

We both don’t have guilt ridden, guilt driven white people to save us.. that’s all I got...

[BrometheusBob.]

Reading these comments was funny. Posters actually think that many of the people who live in poor neighborhoods have the means to buy property in order to cash out on the gentrification.

Instead what actually happens to most of them is they can no longer afford rent and they just have to move to another poor neighborhood.