Investors Move Next Door, Unsettling a Black Beachside Enclave

Professor Emeritus

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$600K cash. You would have to be a fool not to take it in this economy, even if you did have the money.

The much bigger fool is the one who believes that cash money is going to solve any real problems in their life or this world.

The kind of person who would take that money and just dismiss the social consequences, when they already have money, is the kind of person who is going to have a hell of a lot of other problems in their life that no amount of money is ever going to solve for them.


For the ones who are in real financial binds, I get why they would take it, even if I don't agree with the decision.
 

Serious

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The much bigger fool is the one who believes that cash money is going to solve any real problems in their life or this world.

The kind of person who would take that money and just dismiss the social consequences, when they already have money, is the kind of person who is going to have a hell of a lot of other problems in their life that no amount of money is ever going to solve for them.


For the ones who are in real financial binds, I get why they would take it, even if I don't agree with the decision.
This is true, but many people can't think long term like that.

The sad thing is people buying the homes for 600k will probably rebuild on the property and sell it for twice to 3 times as much....


Buy a beachfront home for 500k-700k then flip it for 1.5 to 3 mil :wow:
 

blackzeus

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The much bigger fool is the one who believes that cash money is going to solve any real problems in their life or this world.

The kind of person who would take that money and just dismiss the social consequences, when they already have money, is the kind of person who is going to have a hell of a lot of other problems in their life that no amount of money is ever going to solve for them.


For the ones who are in real financial binds, I get why they would take it, even if I don't agree with the decision.

If you are getting offered 2x what your property is worth you take that sh*t. That's the bottom line. Now of course there are those who don't want to sell their property and don't need the money. I don't know what your budget is like but $600K properly managed will solve a lot of problems and has the potential to create generational wealth.
 

Professor Emeritus

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If you are getting offered 2x what your property is worth you take that sh*t. That's the bottom line.


If that's your only bottom line, you will never advance the struggle.

Money doesn't create generational wealth. Most people who get easy money proceed to throw it away, or raise worthless children who will. Good decision making, a strong work ethic, and raising your children right creates generational wealth.* Selling your community away to investors who are going to ruin it for the very community you grew up in doesn't do any of those things.



* I'll note that abusing the system and a lot of other shady shyt can create generational wealth too, of course. I'm only referring to the good things.
 

zayk35

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Don't know too much about this particular community..but ive seen other black areas done the same way...we be in a prime area the " others" see it and want to buy in and we let them and get shut out completely.....lotta of old black and whites were right about intergration it happened too fast and neither side was ready for the " way " it happened
 

Swirv

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5 miles commanded and owned by blacks :wow:


I can understand why people take the money... but god damn do they not pay attention to the long term consequences :snoop:

Because once you don't have the numbers they will terrorize you outta there. And once gone you won't be able to come back..
A lot of people just want to get paid and don't give a shyt about roots.
 

Jimi Swagger

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Classic case of changing America and rich vs poorer or not as rich. It's not a racial biased and just the changing of community demographic as gentrification and corporation expansion run amuck. Case and point. One of our homes is located Southern Call, a historic Latino community minutes from downtown and stadium when it sat empty after the last housing crash. Most who took advantage are not Latino; but mainly non-Latino Whites, Vietnamese, and many interracial/gay couples - oh and a high class Honduran couple I forget and this Mexican/Native family. We are the only blacks aside from this lady that runs a halfway house. Bought it dirt cheap and now it's 3x the amount in less than a decade. Now brew pubs, high end salons, boutiques are springing up and they may relocate the football stadium (they are praying a Starbucks comes since it increases the property value more). We voted on an extra neighborhood tax so the city can keep the area clean. We petitioned to stop a liquor store from opening and for the city to board vacant houses to keep the junkies at bay.

I am cool with Chicanos and have conversations. Many welcome the changes. But mainly the old guard, resistant to change and living in nostalgia do not like the new development. Even though the neighborhood was dying (it's obvious their children/grandchildren are not doing shyt else big developers couldn't come in revitalize a stagnant area) they'd rather keep things as is and still live in the 1960s on some nostalgia. The young people like the changes and the cash for empty houses. The same attitude as blacks and rural Whites in their set communities. People resistant to change. Without it Manhattan would still be a farm.
 

blackzeus

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If that's your only bottom line, you will never advance the struggle.

Money doesn't create generational wealth. Most people who get easy money proceed to throw it away, or raise worthless children who will. Good decision making, a strong work ethic, and raising your children right creates generational wealth.* Selling your community away to investors who are going to ruin it for the very community you grew up in doesn't do any of those things.



* I'll note that abusing the system and a lot of other shady shyt can create generational wealth too, of course. I'm only referring to the good things.

Lots of people down South owned the same homes for multiple generations and raised their kids right and they're STILL in the struggle. Residual income is a function of money. You have to be pretty talented to generate an annual revenue stream of $25K off of $25K. Generating $25K off of $600K is relatively easily, you can open a damn car wash. Wealth starts with control of revenue streams, and to control your own revenue stream you need startup capital :francis:
 

humble forever

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$600K cash. You would have to be a fool not to take it in this economy, even if you did have the money.
be that one holdout that drives them crazy so they up their bid to get you out of there :sas2:

like how trump was going to give that holdout old lady lifetime rent in the trump tower and shyt. seems like she drove him insane lol
 

88m3

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they could solve a lot of this by creating zoning laws to limit the size of houses.

That has pluses and minuses too in my experience though...


I genuinely feel bad for them.


On another note houses that large are disgusting. They don't even feel like homes.
 

Jimi Swagger

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Lots of people down South owned the same homes for multiple generations and raised their kids right and they're STILL in the struggle. Residual income is a function of money. You have to be pretty talented to generate an annual revenue stream of $25K off of $25K. Generating $25K off of $600K is relatively easily, you can open a damn car wash. Wealth starts with control of revenue streams, and to control your own revenue stream you need startup capital :francis:
Not hard to have startup capital when you hand land with mineral rights and generational homes with equity in the hood waiting to be rented by Mexicans with cash or guaranteed vouchers from section 8/state or bought by the state. Or like some of my older relatives who would rather stay land rich and money poor and let things just sit or their shyt ass kids/grandkids, who do absolutely nothing to contribute to future wealth, live in the homes rent free and can't even pay the property tax or cut the grass, having their old ass daddy (one of my uncles) cutting the grass. Somewhere after the 1950s the elders dropped the ball.
 

Scientific Playa

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they can't buy what someone isn't selling. just like white people back in the day felt it was in their community's (err racial) interest to not sell to black people, these black homeowners need to think about their community and not sell to investors who are just looking for renters.

working class white people got plowed under too when developers and bureaucrats wanted the property.

Robert Moses - Wikipedia, the free encyclopedia

Criticism
Moses's critics claim that he preferred automobiles to people. They point out that he displaced hundreds of thousands of residents in New York City, destroying traditional neighborhoods by building expressways through them. That contributed to the ruin of the South Bronx and the amusement parks of Coney Island, caused the departure of the Brooklyn Dodgers and the New York Giants Major League baseball teams, and precipitated the decline of public transport due to disinvestment and neglect.[5] His building of expressways hindered the proposed expansion of the New York City Subway from the 1930s well into the 1960s, because the parkways and expressways that were built served, at least to some extent, the purpose of the planned subway lines; the 1968 Program for Action, which was never completed, was hoped to counter this.[5] Some claim he precluded the use of public transit that would have allowed non-car-owners to enjoy the elaborate recreation facilities he built, but close associates of Moses claimed that they could keep African Americans from using pools in whiteneighborhoods by making the water too cold.[40][5]

He was also criticized in "The Power Broker" for starting large projects well beyond funding approved by the New York State legislature with the knowledge they would eventually pay for the rest to avoid looking like they didn't review the project properly (a tactic known as fait accompli) and for using political power to benefit cronies including a case where he secretly shifted the Northern State Parkway large distances to avoid impinging on the estates of the rich, while telling owners of the family farms who lost land (and sometimes their livelihood) that it was based on "engineering considerations."[5] In that book, other criticisms included that Moses lied about officials that opposed him to get them removed, for example by calling them communists during the Red Scare and that he fought against schools and other public needs in favor of his preference for parks.[5]
 
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