If we examine more carefully the interests that Obama represents; if we look at
his core financial supporters; as well as his inmost circle of advisors, we’ll see that they represent the primary activists in the demolition movement and the primary real estate beneficiaries of this transformation of public housing projects into condos and townhouses: the profitable creep of the Central Business District and elite residential neighborhoods southward; and the shifting of the pile of human misery about three miles further into the South Side and the south suburbs... Obama’s political base comes primarily from Chicago FIRE—the finance, insurance and real estate industry. And the wealthiest families—the Pritzkers, the Crowns and the Levins.
Are you a young middle-class creative type (probably white) who has chosen to live in an urban neighborhood that your parents would have shunned? Have the families that formerly lived in your neighborhood (probably not white) been pushed out by soaring rents and real-estate prices to the city fringes or suburbs? The New Republic on demographic inversion.
posted by digaman
on Aug 2, 2008 -
DC Suburbs slowly getting denser I've been a participant for the past 5 years in what is easily the 2nd-3rd most insane housing market in the US: Washington DC. Apartment occupancy is 99% in the desirable areas, and "affordable starter homes" (in finger quotes) are priced at $250-$350k. People with good jobs can barely afford this. So what happens to folks who are just getting their feet on the ground in the country? More the merrier. How do you strike a balance between providing affordable housing that is accessible to living-wage jobs without running out the existing neighbors?
posted by cpfeifer
on Dec 27, 2002 -
Scary calculation of the day: I spend about $750/mo. on rent in LA, and while I was checking the price range on apartments in San Francisco, what I wanted was about $2500 per month. So in LA, I spend $9,000 per year on rent (actually it's half that, since I split it with my girlfriend), but in SF, it'd be $30,000 (!!!). For that cost, I could pay for a house in just a handful of years in any other state. Maybe Salon is right, or maybe they aren't.
posted by mathowie
on Mar 6, 2000 -