@bybmoore x @esteban.whiteside c. 2022
You ever see those signs on the side of the road “We Buy Houses for Cash”
That’s a sign of gentrification. One of many.
What Gentrification Means for Black Homeowners
“In historically Black (and other minority) neighborhoods, owners selling their homes on the open market have to grapple with the fact that accepting the highest bid could mean another step toward Black displacement”. - NY Times
There are hundreds of examples, from The Tulsa Massacre, to Cabrini-Green in Chicago to Central Park (formerly Seneca Village)
The Gentrification of Chicago's Cabrini-Green Multi-Family Residential Projects Could Happen Anywhere. Tearing down old, dilapidated buildings and isn't necessarily the problem. The problem is when low-income families are forced out of their homes to free up space to build high value buildings they'll likely never be able to afford living in. Literally with 30 days eviction notice, were given the “boot”. (See slide 3)
Cabrini-Green alone was home to 15,000 mostly black and minority families.
Last year, 30 percent of home sales in majority Black neighborhoods were to investors, compared with 12 percent in other Zip codes.
“We know historically that places where minorities live are undervalued or lower priced,” Redfin’s Sheharyar Bokhari said. That, he said, makes them more attractive to investors, driving up prices for residents.