Washington Post Special: Black homeowners in PG County have watched wealth vanish

[Chelsea Bridge]

Hold off yo just a bit you see how hyattsville coming up breh .

New hyattsville is fukking sexy ass hell my homie got a crib over there by buss boys .

Then you see how fort totten looks girl Langley park bout to be the same cause of the new metro .

I wonder where they going to push all those Hispanics to

I'll give a little more thought but that potential profit is looking really good right now

 

[#1 pick]

I'll give a little more thought but that potential profit is looking really good right now

Don't sell. Rule two. Don't sell. Rule 3. Don't sell.

Rule 4. Don't sell.

The DMV prices will only continue to climb

 

[the bossman]

I was looking at spots out in Mount Rainer and Hyattsville and even NOVA but the taxes are what convinced me to buy a house in DC.

where did you end up buying in the city? I was looking real heavy in Historic Anacostia but there was very very little inventory on the market for the past few months. I prolly could've held out another month or two to wait for a deal to pop up the way these interest rates have been low as fukk all summer.

 

[the bossman]

Hold off yo just a bit you see how hyattsville coming up breh .

New hyattsville is fukking sexy ass hell my homie got a crib over there by buss boys .

Then you see how fort totten looks girl Langley park bout to be the same cause of the new metro .

I wonder where they going to push all those Hispanics to

City of Hyattsville comin up major in the next 2-3 years. the first Whole foods in pg county opening up there next year. purple line station in riverdale park. plus all the development college park is trying to do now, that whole Route 1 corridor is gonna blow. from college park all the way down to mt. rainier and you only a 15 minute ride down RI ave. into downtown dc

 

[THE MACHINE]

I'm currently in the market for buying a home in PG (or BMore) and this shyt is seriously turning me off. I don't want to take a major leap and end up making a major mistake in the end.

Buy yourself a home near the Tanger outlets around the National Harbor. You can get an older single family property there in the upper 2s low 3s. The benefit is the new townhomes being built 3 blocks away are running at 800k. They will drop and your property will skyrocket about 100k in the next 5 years. There is a new MGM scheduled to open summer '17. There will be more casinos and nightlife which might be a turnoff but you should be far enough away that you won't hear all the hoopla, but you will have to deal with the Woodrow Wilson local lanes traffic

 

[GunRanger]

the real issue is that the demand from blacks isnt that high.thats what causes these dips in value in black neighborhoods

 

[Paradise50]

Bad loans and at least in NC a lot of blacks are terrible homeowners


They don't believe in upkeep repairs. Don't truly value the investment of a owning a home.

I'll never buy a median prices home in a neighborhood. I'd rather get one off a road

 

[devizelle]

Hold off yo just a bit you see how hyattsville coming up breh .

New hyattsville is fukking sexy ass hell my homie got a crib over there by buss boys .

Then you see how fort totten looks girl Langley park bout to be the same cause of the new metro .

I wonder where they going to push all those Hispanics to

Yeah I'm in Takoma Park on the edge of Langley and when that purple line comes in, that area will be POPPIN... I really think this area is the place to be you have great restaurants and stuff and you're 15 min from dc

 

[WheatThins]

the game is rigged but also black people have had this major problem as well:

moving to the suburbs in droves during the 80s - early 2000s and foregoing the city in an effort to "keep up" with white people

this problem is esp relevant to dc, bc it was chocolate city. willing to bet most of the people in houses in pg formerly lived in the city or come from families from the city.

now the city is bustling. people do not live in rural areas anymore, even suburbs can be a struggle on transportation and good resources. urbanization is a world wide trend.

my friends who got houses in pg always complain about how much the city has changed, but what they don't realize is that the city has moved on without them and as cities become more intergral to population needs, suburbans will be left behind in getting resources. although they are black, they dont realize that thy have no economic standing in "chocolate city". only perceived social capital that dims as they commute back to the suburbs.

pg county will see a resurgence, but it will be in about 15-20 years when dc's population gets too big and the urbanization spreads to there (hopefull not nova)

City of Hyattsville comin up major in the next 2-3 years. the first Whole foods in pg county opening up there next year. purple line station in riverdale park. plus all the development college park is trying to do now, that whole Route 1 corridor is gonna blow. from college park all the way down to mt. rainier and you only a 15 minute ride down RI ave. into downtown dc

you guys really think thsat purple line is happening? or that it won't come at some really bad detriment?

most of the current dc stations stations dont even work and it's such a small network.

hope it doesnt end up being a nightmare like the trolley. dc transportation decisions/regulations/upkeep truly suck

 

[the bossman]

the game is rigged but also black people have had this major problem as well:

moving to the suburbs in droves during the 80s - early 2000s and foregoing the city in an effort to "keep up" with white people

this problem is esp relevant to dc, bc it was chocolate city. willing to bet most of the people in houses in pg formerly lived in the city or come from families from the city.

now the city is bustling. people do not live in rural areas anymore, even suburbs can be a struggle on transportation and good resources. urbanization is a world wide trend.

my friends who got houses in pg always complain about how much the city has changed, but what they don't realize is that the city has moved on without them and as cities become more intergral to population needs, suburbans will be left behind in getting resources. although they are black, they dont realize that thy have no economic standing in "chocolate city". only perceived social capital that dims as they commute back to the suburbs.

pg county will see a resurgence, but it will be in about 15-20 years when dc's population gets too big and the urbanization spreads to there (hopefull not nova)

It's a double edged sword breh because DC was straight Detroit status during the 80s. If you had a family to raise, the suburbs was most likely the better move.

 

[ThiefyPoo]

I'll give a little more thought but that potential profit is looking really good right now

City of Hyattsville comin up major in the next 2-3 years. the first Whole foods in pg county opening up there next year. purple line station in riverdale park. plus all the development college park is trying to do now, that whole Route 1 corridor is gonna blow. from college park all the way down to mt. rainier and you only a 15 minute ride down RI ave. into downtown dc

Yeah I'm in Takoma Park on the edge of Langley and when that purple line comes in, that area will be POPPIN... I really think this area is the place to be you have great restaurants and stuff and you're 15 min from dc

Man this city on the rise for real this is her crib

Got a roof top and all

She got good use of it this summer i was over there a couple times its just beautiful.

Also has a garage in the back

 

[OC's finest]

Reading this article, some of these people just made terrible financial situations with taking out home equity loans, and adjustable rate mortgages n stuff



Gotta stay financially educated out here

 

[Super Future Luther King Jr.]

Waterford Tower
CoStar Verified ®
14000 Castle Blvd, Silver Spring, MD 20904
1 Bedroom $1,366 – 1,584
2 Bedroom $1,520 – 1,633
3 Bedroom $2,129 – 2,243
Waterford Tower Rentals - Silver Spring, MD | Apartments.com

I was paying 2125 for a 2 bed 2 bath apartment out here in the Bay

Upgraded to a larger 2 bed 2 bath in the same complex a few months ago

I pay 2360 now

2360 BREHS!!!

 

[BigMan]

My house is work 80k to the good but it's because of amortization. We pay nearly 4K/month on our mortgage which started out at 290k in '09. We're at 150k left and will be done in 2020/2021. The value of our home dropped to 188k and is back up. Our neighbors both recently sold at 250k. The real reason for the fukkery are those initial prices of the homes are way over their actual value. We should have invested the 400 dollars in an independent home inspection/estimate in the beginning. No way a home drops nearly 33% in 16 months. Probably could have paid 240-250 then. Lesson learned

 

[BigMan]

Why isn't the DMV hyped up like Atlanta,Houston or NC? There is alot of black folks down there and in the long term when my money and career is situated I want to move to a majority black area and leave NYC.

DC/MD and ATL are hyped way more than any other place