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A combination of greedy investors, insurance companies, local government and even neighbors are ganging up on low income homeowners to try to coerce them to leave. I've observed this working with low income seniors living at home. It is disgusting. The insurance companies are starting to price out or just cancel insurance on older homes where the elderly and lower income are likely to live.
Flippers harass them, neighbors ignore them, bother them, or report homes that haven't been renovated as eye sores (while their own yards are full of trampolines, RVs, plastic crap). Someone reported a woman's beautiful wildflower garden as "weeds" that need to be mowed.
The local governments want to see old homes either razed or gutted, they are outlawing certain things that will force people to spend thousands of dollars to comply or be fined, or they will be forced to sell. This is often happening in democrat run areas. I'm not sure how you virtue signal this.
This is common in areas that are gentrifying, or have residents that want to.
We used to be a blue collar town. Still are to an extent but we now have a cohort of new residents (going back to about 20 years ago) that are trying, and have succeeded to an extent, to remake the town in their image. They often say that there are people living here who don't deserve to.
A combination of greedy investors, insurance companies, local government and even neighbors are ganging up on low income homeowners to try to coerce them to leave. I've observed this working with low income seniors living at home. It is disgusting. The insurance companies are starting to price out or just cancel insurance on older homes where the elderly and lower income are likely to live.
Flippers harass them, neighbors ignore them, bother them, or report homes that haven't been renovated as eye sores (while their own yards are full of trampolines, RVs, plastic crap). Someone reported a woman's beautiful wildflower garden as "weeds" that need to be mowed.
The local governments want to see old homes either razed or gutted, they are outlawing certain things that will force people to spend thousands of dollars to comply or be fined, or they will be forced to sell. This is often happening in democrat run areas. I'm not sure how you virtue signal this.
Where is this happening? Sounds like a potentially gentrifying area, which means the owner will likely benefit when he sells.
Obviously the owner is not poor if they own their residence, especially outright.
Seniors tend to get property tax breaks due to age and/ or a combination of age and income. There are a handful of municipalities in the US that exempt seniors from that portion of property tax that funds schools.
Homes in need of obvious maintenance potentially impact the values of nearby properties. Sometimes owners become oblivious or can’t afford to take care of business.
States regulate insurers. Are there states that allow insurers to decline to insure an older home that has not been condemned? Type of construction, age of roof, zip code, prior 5-7 year claim history and premium payment record can impact premiums.
This has been happening for decades. An entire neighborhood in Norwood, Ohio, was demolished - the houses were declared "blighted" because they had only one bathroom - because a developer wanted the property and the city wanted the increased tax revenue. And this was a middle-income neighborhood.
Harassing anyone to sell their home is ridiculous, but preying on elderly and low-income homeowners is reprehensible. It's hard enough to hang onto a home.
I get constant texts, phone calls, and mail from flippers wanting to buy my house. They can suck it.
Yes, this is happening, I know a few older folks that get offers multiple times per week. Around here, housing construction has slowed to a crawl, so that is probably the reason.
Most reasonable people would be delighted to get offers multiple times a week. If one is uninterested in selling, easy enough to dismiss, like offers to extend warranties or offers for Medicare supplemental insurance.
Interests rates are at record lows. The ability to lock into a fixed 3% rate had created a demand that exceeds supply in many areas. Only thing any of us really control, is our own reactions.
My property has been a featured in several local garden walks over the years. I frequently receive letters from families expressing an interest in buying my home. Interestingly enough, when I do decide to move, likely half of ready, willing and able buyers will take a pass because they have no interest in maintaining the crap. Lol.
Most reasonable people would be delighted to get offers multiple times a week.
For half of what your house is worth?
Quote:
My property has been a featured in several local garden walks over the years. I frequently receive letters from families expressing an interest in buying my home. Interestingly enough, when I do decide to move, likely half of ready, willing and able buyers will take a pass because they have no interest in maintaining the crap. Lol.
That's lovely, but this is not the kind of house the OP is talking about.
A combination of greedy investors, insurance companies, local government and even neighbors are ganging up on low income homeowners to try to coerce them to leave. I've observed this working with low income seniors living at home. It is disgusting. The insurance companies are starting to price out or just cancel insurance on older homes where the elderly and lower income are likely to live.
Flippers harass them, neighbors ignore them, bother them, or report homes that haven't been renovated as eye sores (while their own yards are full of trampolines, RVs, plastic crap). Someone reported a woman's beautiful wildflower garden as "weeds" that need to be mowed.
The local governments want to see old homes either razed or gutted, they are outlawing certain things that will force people to spend thousands of dollars to comply or be fined, or they will be forced to sell. This is often happening in democrat run areas. I'm not sure how you virtue signal this.
What state is this? most states and this is anecdotal have homestead exceptions that cap property values for senior citizens, since insurance is predicated on the cost of coverage they are directly proportional just like taxes. I am sure if it happens, it has nothing to do with left or right just scarcity and value proposition. As neighborhoods become more valuable prices go up people make bigger investments, want a bigger return, they start getting more zealous about curb appeal. Opposition to these things are typically associated with progressives, opposition to gentrification and such.
In our area, older homeowners are selling and moving in with their kids or into senior living situations.
Every home I can think of looks better today than it did before it sold. New owners have painted, put down sod to replace patchy grass, replaced rotting fences and steps, etc.
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