...often occur when someone without a lot of simple common sense tries to fix something with a short-sighted solution. Really it's a lot like trying to put a few new 2x4s with a sheet of new drywall in a house this is still being eaten to pieces by termites. It looks and sounds really nice for about a year before the reality of the futility once again shows itself.
Providing artificially high appraisals to show higher property values that a home should have might help a homeowner sell their home for more money, or to take out a larger refi to have money in their pocket. On the surface that sounds like a great plan.
But it also inflates the real estate taxes that must be paid every year by the home owner who doesn't want to sell or a new buyer, and it increases the mortgage payments for future buyers thus depriving the new homeowner of monies they will need for upkeep and living expenses. People are not moving into areas with low home values because the housing is too cheap. People are not moving into those neighborhoods because of the potential of becoming a crime victim or that services no longer exist because of issues related to lawlessness. People are afraid to buy or invest there.
Block busting and redlining existed 50 years ago and it has been illegal ever since, no one who is honest will deny that, and almost no one is alive today who had anything to do with that, however, today, no one moves into an area where they do not feel safe. People who grow up in these neighborhoods and manage to avoid the negative influences, move out as soon they have saved enough money or landed a good job. Artificially inflating the value of housing does not fix problems, it will only make them worse.
The only way these neighborhoods can raise the long term value of their property naturally is to eliminate the reasons people are too afraid to live there or do business there. Once a business feels safe enough to open a store or provide a service in an area, then others will also move in. Once its safe enough for services and resources to be available, people will be willing to pay more to live there and the neighborhood will naturally increase in value and all of the people there will live a better life with jobs that are readily available and that do not require a long bus ride or commute. People who want to open their own business and really experience the opportunity for success that can come with it, would have a reason to stay and continue to increase the value and quality of the neighborhood.
Just arbitrarily raising the price of a piece of property in a high crime area will not work and it will make everything that much harder to fix. In fact it is a gut punch for the folks who are trying to live and better themselves and their families. Unless of course the leftist power mongers simply want to price people out of their homes so they can buy entire neighborhoods to raise and rebuild as chic new shopping and entertainment districts, or super expensive and trendy apartment complexes that the newly displaced residents could never afford to buy even with the increase is selling price they received. We have seen that before and its what is called gentrification. That subject has to have its own post because the term is too often is bastardized for use to stop true investments that can make a positive difference.
Fixing the problems in this country is going to involve true self inspection by people in all walks of political and social life. I try not to judge someone based on appearance, sometimes its hard based on experiences. But that holds true for most people.
But if we don't try to fix the issues and stop screaming at each other, blaming each other and selling hatred of each other, we wont stand as a country much longer. All one has to do is look at world politics, war and sabre rattling to understand that our survival as a free country is not guaranteed, we have to work with each other to stand together to defend our freedoms, or they will go away and never come back. All off us have mirrors, and without exception all of us need to really look at the person who is staring back at them. Because that's the person God will see when its your turn to stand before him, not who you think you are or who you pretend to be, but what and who you actually are and what you have stood for and supported.
Providing artificially high appraisals to show higher property values that a home should have might help a homeowner sell their home for more money, or to take out a larger refi to have money in their pocket. On the surface that sounds like a great plan.
But it also inflates the real estate taxes that must be paid every year by the home owner who doesn't want to sell or a new buyer, and it increases the mortgage payments for future buyers thus depriving the new homeowner of monies they will need for upkeep and living expenses. People are not moving into areas with low home values because the housing is too cheap. People are not moving into those neighborhoods because of the potential of becoming a crime victim or that services no longer exist because of issues related to lawlessness. People are afraid to buy or invest there.
Block busting and redlining existed 50 years ago and it has been illegal ever since, no one who is honest will deny that, and almost no one is alive today who had anything to do with that, however, today, no one moves into an area where they do not feel safe. People who grow up in these neighborhoods and manage to avoid the negative influences, move out as soon they have saved enough money or landed a good job. Artificially inflating the value of housing does not fix problems, it will only make them worse.
The only way these neighborhoods can raise the long term value of their property naturally is to eliminate the reasons people are too afraid to live there or do business there. Once a business feels safe enough to open a store or provide a service in an area, then others will also move in. Once its safe enough for services and resources to be available, people will be willing to pay more to live there and the neighborhood will naturally increase in value and all of the people there will live a better life with jobs that are readily available and that do not require a long bus ride or commute. People who want to open their own business and really experience the opportunity for success that can come with it, would have a reason to stay and continue to increase the value and quality of the neighborhood.
Just arbitrarily raising the price of a piece of property in a high crime area will not work and it will make everything that much harder to fix. In fact it is a gut punch for the folks who are trying to live and better themselves and their families. Unless of course the leftist power mongers simply want to price people out of their homes so they can buy entire neighborhoods to raise and rebuild as chic new shopping and entertainment districts, or super expensive and trendy apartment complexes that the newly displaced residents could never afford to buy even with the increase is selling price they received. We have seen that before and its what is called gentrification. That subject has to have its own post because the term is too often is bastardized for use to stop true investments that can make a positive difference.
Fixing the problems in this country is going to involve true self inspection by people in all walks of political and social life. I try not to judge someone based on appearance, sometimes its hard based on experiences. But that holds true for most people.
But if we don't try to fix the issues and stop screaming at each other, blaming each other and selling hatred of each other, we wont stand as a country much longer. All one has to do is look at world politics, war and sabre rattling to understand that our survival as a free country is not guaranteed, we have to work with each other to stand together to defend our freedoms, or they will go away and never come back. All off us have mirrors, and without exception all of us need to really look at the person who is staring back at them. Because that's the person God will see when its your turn to stand before him, not who you think you are or who you pretend to be, but what and who you actually are and what you have stood for and supported.
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