Rich people are funny...

[TurtleCreek80]

Originally Posted by Bullandram

There is a historical neighborhood off magnolia in Fort Worth that is being converted to a supposed up and coming renovated neighborhood. Basically they are trying to push out the poor and change a ghetto neighborhood into a trendy rich one. I find this interesting because there is no guarantee the poor will even move. It's very odd because you will have one 200,000 renovated home next to a literally falling down home with a not so safe environment. Why do they do this? Lol

$200k homes are not a "rich person" neighborhood.

$200k is about 15% BELOW the median price point for homes in the DFW area.

Households with the median income can afford a $200k home.


This sounds like a good change, not a bad one. Why on earth would you lament turning a "ghetto" neighborhood (your words) into a nicer, more desirable one that is still affordable for the majority of DFW residents???

[madrone2k]

Another factor is that many people occupying those run-down, inner-city homes are renting. In many cases, the actual owners bought the old places as an investment, planning to eventually sell to a developer who will cram a few new townhouses where one house originally stood.

In the 20/30/40 something crowd, perhaps most can't afford a $400-500K townhome, but there are enough that can to make it profitable for developers. Especially if we're talking about a dual-income couple with jobs in fields that are in demand.

[Westerntraveler]

you consider 200 thousand dollar homes "rich"?I dont but maybe its because I live in a high COL area."Rich" means so many different things to different people so YMMV

[madrone2k]

Sadly, many, many people in this country now consider that "rich". The gap between the two ends of the income spectrum just keeps increasing. It's not good for our country.

[Westerntraveler]

Originally Posted by madrone2k

Sadly, many, many people in this country now consider that "rich". The gap between the two ends of the income spectrum just keeps increasing. It's not good for our country.

Yes, I could see how a household making 30 grand a year living in a trailer could consider a 200 grand house a "rich" persons house.
-WT

[tcualum]

More than a decade ago some friends of mine bought a falling apart home in Fairmont that was surrounded by originally beautiful old homes that had turned into flop houses and carved into apartments. They renovated it themselves and during the time it took more and more homes on the street were also purchased and renovated as well. Now their home is a gorgeous historic home that's worth many times what they paid for it. One the one hand some of Fort Worth history was saved and a neighborhood was made beautiful once more. One the other hand all of the poor residents were priced out of the neighborhood.