shark_skin_suit t1_izgjw7j wrote
Reply to comment by Away_Swimming_5757 in Fishtown, Point Breeze have become far wealthier in the last 10 years and other new Census findings by Dryheavemorning
well, if black people are not involved in development in an equitable way, why open the flood gates to venture capitalists to own half the city?
Barmelo_Xanthony t1_izh2te8 wrote
First off just remove black people from the sentence and replace it with the long time residents. They are not being forced out because they are black so acting like that is a valid argument is disingenuous at best. Maybe 60 years ago but the girl who inherited a home in a great area is not a victim.
Now that we peeled that off - the long term residents are absolutely benefiting because a) their home prices are going up b) the area is becoming safer and c) businesses create opportunity to get better jobs than if they were stuck in a war zone looking area.
Next, let’s change the venture capitalists to a word like investor because for some reason you act like a venture capitalist is an evil word. Investors fund people who wouldn’t be able to otherwise afford it to start their business. Without these kinds of investors the only person who can start a business is someone already wealthy. So the investors give out loans because the area is improving and they think they will make a profit.
The business owners receiving the loans get a chance to make their dreams come true and you start to see small stores and resteraunts flourish. Better businesses mean more people want to go there and live there which means the price will go up because we don’t build enough. So people that are struggling decide to sell their home, not forced out of it, and move back to an area similar to where they started.
The opportunities were there and even if they couldn’t take advantage they likely still made a killing on their home value. Everyone is better off except for the selfish people who wanted the area to stay shitty because they wanted to stay there for cheap.
If you want more black people to be successful in these scenarios encourage them to be the ones who start the small shops and stores when things start getting better. Teach them that investors can help them and they’re not evil all the time. People like Kevin Hart that actually do this in poor neighborhoods are hero’s and people like you are helping ruin their futures.
AbsentEmpire t1_izgnfg6 wrote
Because the venture capital is coming either way, right now the main person benefiting from it is Johnson, and only Johnson.
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