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Renters don't get to profit from real estate appreciation. That's the problem with gentrification.
by gowld 6y ago
Renters don't get to profit from real estate appreciation. That's the problem with gentrification.
- xiphias2 6y agoThey should buy up things and max out their loans...even a parking place will worth 10x there soon.
- wahern 6y agoMany areas of Texas and California have had large, stable, resident latino communities for over a hundred years or more, and thus far greater percentages of property ownership than in most other areas.
- wutbrodo 6y agoThe distribution of property owners is not the same as the distribution of renters (most obviously with respect to class), even in a subpopulation like "Latinos".
- deleted 6y ago[deleted]
- IG_Semmelweiss 6y agothat presupposes the locals were renting to begin with. I don't see evidence of that, or the opposite. I admit to be assuming that long-time locals own their property. At least, a significant chunk. Also note that not enacting a tax cap is not "neutral" to the status-quo of community: for as long as they do not enshrine capped taxes into their code, the longtime locals will be outbid by transplants due to the latter's ability to pay absolute higher property taxes. This only accelerates gentrification further.