Quote:
Originally Posted by zrx299
Uneducated people always think they are entitled to someone else's property.
If someone doesn't own, then they have no say in what their landlord does. If that is important to them, then save up and buy-in. Actually invest in the community instead of just paying rent and complaining about things when other people show up who are willing to pay more for something; whether that's land, rent, or a building.
Something is only worth what someone else is willing to pay for it.
Prices don't magically rise on their own.
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As always I would say you should look into redlining, blockbusting and FHA treatment of black and Hispanic banking institutions historically. The book 'the color of money' is a fantastic read on the subject. It's not exactly even-handed but it is a well cited book that is primarily fact-driven.
There is a reason the vast majority of poor neighborhoods are rental property and it's not a lack of education but systemic decisions arising out of recontstrion and the new deal that were targeted specifically at black and Hispanic communities (going so far as to not underwrite loans in black neighborhoods (redlining) nor would they underwrite loans that would cause a white neighborhood to become a mixed race neighborhood.
The idea that white home ownership was created solely by the free market and not the federal government underwriting and offloading the risk for loans for white families is one of the primary driver's of 1950s growth of the American middle class.
I worked as a VP of two very large banks on Wall St, and I'm as pro owners rights and development as anyone, but chalking up issues with the lack of wealth in minority communities is ignoring long-standing governmental and private discrimination that is largely responsible for the lack of Generational wealth creation in these communities. I'm not saying I support Save Our Hoodz (I don't) and I am a strong supporter of urbanization but gentrification is a much more complex subject deserving of at least empathy and not accusing groups who have lived in neighborhoods of being uneducated or loafers who have failed to invest in their communities when they historically have largely been prevented from doing just that.