>>73 2019-04-28 04:45:23
https://www.nytimes.com/interactive/2019/04/27/upshot/diversity-housing-maps-raleigh-gentrification.html

I find this article truly quite fascinating. Here we have a perfect example of how the logic of capital drives ideology.

Basically the article explains how whites are moving back into inner cities and its causing the real estate of those areas to go up, pricing out the historically poor black and hispanic neighbors. If you have been to any major city in America in the past 5 years you have probably seen this, the classic luxury condo mid-rise next to a run down house standing on bricks and a pitbull. As whites moved out to the suburbs in the 70s and 80s, the inner cities were left to decay and economically segregated. This eventually caused hyper-inflation on the price of homes in the suburbs, which contributed to the financial crash of 2008. As cities expanded with the constructions of massive freeways, people started getting tired of 1-2 hour commutes, which increased demand for inner city living.

So here you have a problem for capital. You cant expand out anymore because the demand isn't there; and the existing real estate got too expensive to afford, even with outrageous amount of loans. Also, because of decades of neglect, inner cities became and investment opportunity, due to how easy it could be for developers to snatch up large plots of land on the cheap. Just one big problem for them, its where blacks lived. Basically, there's no room for capital to expand, home inflation is out of control, and boom, the economy crashes.

So what do you do? Capital nefariously co-opts the racial justice movement, and bam, welcome to world of neoliberal idpol. Now, moving into a black neighborhood is "progressive" "virtuous" "hipster", etc… Here we can see two examples, one of the man who said "I dont want to live in a neighborhood were all the kids look like my kid" (Virtue signaling). And, the mother of all neoliberal idpol, the couple who wanted a "diverse neighborhood", but felt bad that they would price out their neighbors, so they went to get permission from their pastor to move in. Eventually coming to the conclusion that if they didn't buy the land someone else would anyways.

This solved both problems, pent up demand for inner city living is met and capital can be invested into new land previously underdeveloped. Real estate profits have skyrocketed, so for now the sky is the limit. That is, until inner city real estate gets over inflated and the cycle comes to a crashing end, causing a new crisis of capital.
>>78 2019-04-28 19:29:39 🎩
>>73

~whites moving back into the inner city


yeah and they look like pic related

The problem of overinflation of inner city prices and gentrification pushing out minority residents has already reached a boiling point in places like NYC and especially in the San Francisco and the bay area where tech guys getting paid $300k a year can afford to spend $5000 a month on rent while the black or hispanic guy who works at an auto shop gets pushed out and has to either move away or do a 1-2 hour commute to work.

The few people still grandfathered in to rent controlled apartments from the 70s will eventually age and die/go to nursing homes/ or get evicted using legal loopholes. And rent controls were banned after the 70s because of neoliberal economics saying theyre bad.

But the main problem isnt even the hipsters its investors buying up properties as investments. You can see this in cities like SF, NYC and even Honolulu where gentrifying areas of the inner city are filled with brand new expensive apartments that cost $30 million per flat are almost entirely empty because the investors are overseas. You can drive by these buildings at night and see that only 1-2 lights are on in the whole building. They are basically just glorified piggy banks for the bourgeoisie.

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