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(NPR)   New study shows that waves of over-privileged white kids taking over old neighborhoods, driving up prices, and pushing out the former non-white residents may actually be a good thing. Well, for the privileged white kids, anyway   ( divider line
    More: Obvious, privilege of the white, Tompkins Square Park, social consciousness, gentrification  
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4620 clicks; posted to Main » on 22 Jan 2014 at 8:59 AM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

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2014-01-22 09:46:37 PM  
Joe Blowme:

SigmaAlgebra: When white people left the cities for the suburbs, people complained about white flight, and now that white people are moving back into the cities, people complain about gentrification.

Ofcourse, eveything is whitey fault... did you learn nothing in school?

That's funny.  I don't recall learning that in school.

Maybe you have an overly sensitive vagina?
2014-01-22 09:52:54 PM  
Capitalism, how does it work?
2014-01-22 11:30:28 PM  

Phins: Loreweaver: Phins: Loreweaver: One solution is to put in place nationwide rules that prevent raising rent for existing tenants above the normal inflation rate, and rules that forbid a lease to be terminated if the property changes owners. Obviously, when the lease expires, the tenant would have to negotiate with the new owner, but if the former law is also in effect, the new owner could not raise rent more than 5% over the previous year's rent.

 HAHAHAHAHA. News flash: people buy rental properties to make money. Not as a charity or public service. We could call that the "we made existing rental property worthless and no one will buy them" law. And where are you going to rent when no one owns rental property?

Don't get me wrong. i am not against landlords turning a profit. But there is a big difference between owning property to turn a profit, and treating someone's home as yet another get-rich-quick scheme, like we saw with the housing bubble.

If you're not trying to maximize profit, you shouldn't be investing or owning a business. And if you're a property owner and you could be getting more in rent but just don't, you're a moron. You seriously believe that government should be able to limit the amount of profit a company can make? Or the amount of return on an investment? Do you also believe there should be a law that limits what you can sell your house for? You can only sell for 5% more than you paid? Or you can only sell for the same price you bought, adjusted for inflation? C'mon, be a nice guy, leave money on the table for a stranger. I'm going to guess no, you wouldn't want that. You want to get the highest price you can. But you think someone who owns rental property should be limited by law as to how much s/he can make.

I'm talking about limiting how much you can raise rent for existing tenants, not limiting how much you can sell a house for. The 2012 Olympics in London should have taught us what happens when landlords are allowed to raise rent at will. Longtime residents kicked out of their homes so the landlords could charge 5x or even 10x the normal rent to people staying in London for the duration of the Oylmpics.

The Gentrification going on here in the US is like that, but on a slower scale. Longtime residents forced from their homes, just so the landlords can make a quick buck.
2014-01-23 12:56:30 AM  
DUMBO Brooklyn laughs at your shenanigans.
2014-01-23 08:16:01 AM  

Enlightened Liberal: I'm all for gentrification since most people end up winners, except for renters who see their rent increase at a higher rate than their wages.

If you own a rental property and person A is willing and able to pay $2,000 a month and person B can only afford $800 a month, then sorry person B you need to find a new place to live. On the hand, low - income people shouldn't be completely screwed but I'm not sure what an equitable solution would be.

Rent control, and a $15 minimum wage with increases automatically indexed to inflation.  That's really the only equitable solution.
2014-01-23 05:14:26 PM  
Landlords don't need to justify rent increases. If they can get someone to pay a higher amount, thats all that matters. You have no 'right' to a certain rent rate, and it doesnt matter if you've been in a location for weeks or decades. Can't pay the new rent price? GTFO. It is not your home, you are just a renter.

You do not matter. your attachment, ideas of what is fair, whatever deal you had before--meaningless. The property belongs to the landlord, to do with as they see fit, and your wishes mean squat.
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