Saturday, April 05, 2008

So I'm Moving to East Nash.

...Am I part of the problem?

The following is in response to this previous '06 blog post:
http://matthewryanward.blogspot.com/2006/09/i-cant-be-only-one-whod-like-to-see.html

"According to a report released Tuesday by the Brookings Institution, a Washington-based think tank, the recent influx of exceedingly affluent powder-wigged aristocrats into the nation's gentrified urban areas is pushing out young white professionals, some of whom have lived in these neighborhoods for as many as seven years.

Maureen Kennedy, a housing policy expert and lead author of the report, said that the enormous treasure-based wealth of the aristocracy makes it impossible for those living on modest trust funds to hold onto their co-ops and converted factory loft spaces.

"When you have a bejeweled, buckle-shoed duke willing to pay 11 or 12 times the asking price for a block of renovated brownstones—and usually up front with satchels of solid gold guineas—hardworking white-collar people who only make a few hundred thousand dollars a year simply cannot compete," Kennedy said. "If this trend continues, these exclusive, vibrant communities with their sidewalk cafés and faux dive bars will soon be a thing of the past."

story continued:
http://www.theonion.com/content/news/report_nations_gentrified

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