Quote:
Originally Posted by shutout
Not sure who would get displaced.
If you are worried about people renting, then have the city put in rent control legislation for the area covering the next 10-15 years.
If its people who own homes in the area they don't have to sell, but if they decide to they are going to make more money then than their homes are worth now.
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Given some of the property values in the area as they are today I would imagine the ones who do own and are at risk of not earning enough to maintain living there are people who bought in the are over 10 years ago. That would most likely mean the increase in their property value would exceed the value remaining on their mortgage (assuming they haven't remortgaged or used it as collateral for something else). They could then possibly take out a line of credit against their house and pay off the mortgage and offer them much more financial flexibility to continue living there.
This of course is a HUGE generalization, I just dont see how this cant benefit the neighborhood more than it hurts it.