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Old 07-10-2018, 09:40 PM
 
Location: Los Angeles (Native)
25,306 posts, read 16,477,571 times
Reputation: 12186

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The Mayor of Inglewood , James Butts was interviewed by ABC and was asked about gentrification and he said it was hyperbole . He talked up the pros of development in the city . Also the fact that homeowners have seen property prices go up and this has created “generational wealth”

Such a contrast from our Mayor . It was an interesting interview and he even quoted Ronald Reagan .

Would be great to have a Mayor like him here in L.A that is focused on doing good for his city versus campaigning out of state and focusing on fringe issues .
Guy seems all business .

Worth watching the interview if you have any interest in the new developments coming to Inglewood .

INGLEWOOD, Calif. - Inglewood Mayor James Butts says critics who say the city is undergoing gentrification have it wrong.

Real estate values have increased 137 percent since 2012, giving homeowners a legacy for their children, and rent is still among the lowest in the South Bay.

With L.A. Stadium at Hollywood Park 40 percent complete along with The Forum and the Clippers planning a new arena, construction is booming. Projects require at least 30 percent local hires, and Inglewood unemployment has decreased by two-thirds, down to 5.5 percent from more than 17 percent.

Inglewood mayor says housing still a bargain in booming city | abc7.com
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Old 07-11-2018, 09:11 AM
 
309 posts, read 193,858 times
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Yes, I love it. Thanks for sharing. Please keep building!

I felt like Mayor Butts seemed quiet and low energy during this interview. I've definitely heard him more excited about the projects in Inglewood in the past. Not sure if it's because he has to play the politics game with the media or if he's just exhausted, as I'm sure he has to deal with the gentrification question on a daily basis.

Crime has fallen 70% in the past 5 years...for everyone who thinks Inglewood is a terrible, crime ridden place.. please look at that stat.

Last edited by ima30something; 07-11-2018 at 09:42 AM..
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Old 07-11-2018, 09:46 AM
 
3,118 posts, read 3,996,101 times
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Pragmatic outlook. The crybully army is going to have a field day with him as a result.
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Old 07-11-2018, 09:55 AM
 
Location: Los Angeles (Native)
25,306 posts, read 16,477,571 times
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Quote:
Originally Posted by Xanathos View Post
Pragmatic outlook. The crybully army is going to have a field day with him as a result.
Yeah he’s a former cop/ police chief so seems pretty no nonsense .

Unlike in L.A he didn’t seem to give in to the “concerns “ of the anti gentrification crowd .

His message isn’t that he is going to make housing affordable for everyone and anyone from around the world.
The message is more he’s going to focus on the economy and for people that want to work hard they’ll have better opportunity in Inglewood and it’s still relatively affordable for the L.A area based on market housing prices .

The promise of affordable housing for all is a false promise but one that L.A politicians lie about to keep people voting for them .

Yeah he’s facing opposition from the affordable housing crowd they want affordable housing built instead of a new Clippers stadium.
He wants to make Inglewood the sports /entertainment capital of the country .
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Old 07-11-2018, 10:06 AM
 
3,118 posts, read 3,996,101 times
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I think his goals are in the right place. I mean, when he talks about "generational wealth", he seems to not recognize that the increase in property taxes is going to shove the very people he claims are being helped out, but they're being given a pretty nice golden parachute to be forced to sell due to inability to cover the increased taxes.


One of the rental props I purchased is over in there, and I've been very happy with the comp sales that have taken place since I acquired it - definitely trending in the right direction. I'll never understand all the caterwauling that takes place any time an area starts losing its gritty edges. It basically tries to claim that the successful should be considered second class citizens to those who are not.
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Old 07-11-2018, 10:48 AM
 
Location: Los Angeles (Native)
25,306 posts, read 16,477,571 times
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Quote:
Originally Posted by Xanathos View Post
I think his goals are in the right place. I mean, when he talks about "generational wealth", he seems to not recognize that the increase in property taxes is going to shove the very people he claims are being helped out, but they're being given a pretty nice golden parachute to be forced to sell due to inability to cover the increased taxes.


One of the rental props I purchased is over in there, and I've been very happy with the comp sales that have taken place since I acquired it - definitely trending in the right direction. I'll never understand all the caterwauling that takes place any time an area starts losing its gritty edges. It basically tries to claim that the successful should be considered second class citizens to those who are not.
Yeah I don’t know how it works with Prop 13 , I suppose if you inherit a house the taxes get readjusted ?
But also a long time owner could sell and perhaps move out of state and invest that money elsewhere .

Yeah prices have gone up significantly it seems. How long ago did you purchase ? I imagine it’s tough to cash flow there these days. They don’t have rent control which is good , there was a recent effort to bring rent control but seemed like it had a bunch of bogus signatures.
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Old 07-11-2018, 11:28 AM
 
3,118 posts, read 3,996,101 times
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Quote:
Originally Posted by jm1982 View Post
Yeah I don’t know how it works with Prop 13 , I suppose if you inherit a house the taxes get readjusted ?
But also a long time owner could sell and perhaps move out of state and invest that money elsewhere .

Yeah prices have gone up significantly it seems. How long ago did you purchase ? I imagine it’s tough to cash flow there these days. They don’t have rent control which is good , there was a recent effort to bring rent control but seemed like it had a bunch of bogus signatures.

Yeah, I'm not sure on the estate tax aspect. That's a good point, especially since a lot of the homeowners in the area are in their golden years and have owned their homes since the 60's or 70's.



I've had the property a bit over a year now. It's generating exactly what I want it to generate: the cost of my mortgage, insurance, property taxes, plus 10% that gets socked away for maintenance in case a furnace explodes or it needs a new roof or something - a total which actually puts the price at a bit lower than market rate, but I've got great tenants. My tenants are both professionals - she's an actuary, and he's a remote technical writer for a large dot-com, kid's just old enough to not be destructive. They've even improved the home some (she's created a garden in the back yard, he's went through and ran 10 gig fiber through the house because he wanted faster gaming). It's pretty much been a dream scenario. I would think the residents would be thrilled to be able to start attracting white collar professionals. Rising tides lift all boats and all that.
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Old 07-11-2018, 11:57 AM
 
Location: Los Angeles (Native)
25,306 posts, read 16,477,571 times
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Oh ok thanks , that’s good to hear it’s been working out well for you .

It sounds like quite a few positive things are happening in the area which is great .

Makes a lot of sense to attract white collar professionals to an area . Their crime rates are usually very low and they have disposable income to support decent local businesses .
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Old 07-11-2018, 03:12 PM
 
Location: Los Angeles (Native)
25,306 posts, read 16,477,571 times
Reputation: 12186
Article from last year about the development happening in the area
Much different message versus what we hear in L.A




““Gentrification is not what is happening in Inglewood,” said Butts. “I feel great that people want to move into Inglewood and I feel great that people are allowed to sell their houses for double what they bought them for and do as they please. No one is being forced to sell his or her property,” he said.

https://lasentinel.net/mayor-butts-r...velopment.html
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Old 07-11-2018, 04:18 PM
 
Location: Laguna Niguel, Orange County CA
9,809 posts, read 8,290,968 times
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Is “ gente-ification” a thing in Inglewood

Last edited by LuvSouthOC; 07-11-2018 at 04:27 PM..
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