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Government aided white people in moving out of cities to the suburbs. Those houses skyrocketed in value causing wealth to be created from thin air.
The values in the city plummeted.
Then they came back into the city to buy the properties with depressed values decades later.
The values in the city plummeted.
Then they came back into the city to buy the properties with depressed values decades later.
And now you end up with people now leaving cities to be able to afford housing.
But commute times are soaring with no public transit relief on the way.
But commute times are soaring with no public transit relief on the way.
Imagine the house your white grandparents bought for $50k now being worth $1,000,000 lol
Oh...and donât forget that school funding is a function of home values...
So whatâs that so far:
1. Struggle-housing
2. Long commutes
3. Poorly funded schools....
What else...
So whatâs that so far:
1. Struggle-housing
2. Long commutes
3. Poorly funded schools....
What else...
Oh yeah...no grocery stores. https://twitter.com/fmason3/status/1325833317606952960
This house was purchased in 1994 for $193,000. Run that amount thru an inflation calculator and it should be roughly $337,000 today.
Nope. $850,000.
These value jumps did not happen in black neighborhoods. https://www.zillow.com/homedetails/3500-7th-St-S-Arlington-VA-22204/12091677_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare
Nope. $850,000.
These value jumps did not happen in black neighborhoods. https://www.zillow.com/homedetails/3500-7th-St-S-Arlington-VA-22204/12091677_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare
Similarly this house a few minutes away was purchased in 1993 for $125,000. Did it have a proportional increase in value? https://www.zillow.com/homedetails/2405-Cheverly-Ave-Cheverly-MD-20785/37350671_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare
