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The gross majority of opportunity zones are not at risk of gentrification from opportunity zone investment. Most opportunity zone census tracts sorely need an i
by ethagknight 8y ago
The gross majority of opportunity zones are not at risk of gentrification from opportunity zone investment. Most opportunity zone census tracts sorely need an incentive for new investment.
- anigbrowl 8y agoI live on the edge of one and real estate around here has tripled over the last decade already. I have lost a lot of friends and neighbors to endlessly rising rents over the last 5 years. Something tells me the hot money isn't going to fund the construction of homeless shelters or enough housing to seriously push down rents.
- throwaway2048 8y agoSounds like what is going to happen to me is some "opportunity zones" are going to increase in value, and its going to lead to a runaway feedback effect where all this opportunity zone investment is going to be plowed into a few rapidly price increasing zones for maximum return and nowhere else. End result is going to be an entire neighborhood of 3 million dollar condos nobody lives in (but prices have skyrocketed due to the huge influx of money), a huge tax free payoff for millionaires, and next to zero real societal value created.
- ethagknight 8y agoThe benefit of investing in an opportunity zone is not that great. It’s an incentive, but a rather modest one, for a specific group of people with ‘captive gains,’ and these investments will tend to be rather risky by nature of being in OZs. I have trouble fathoming a runaway investment situation (?). If, in 10 years, OZ policy has dramatically changed the state of a substantial portion of low income census tracts... is that a bad thing?
- throwaway2048 8y agoMore expensive housing does precisely nothing for low income earners.