Bullying out the poor, making room for the rich
Hurricane Katrina left a huge mess and created a lot of homeless people. People's houses are sitting around damaged and they are now entering the real estate market. Whether these victims are selling their property to go buy or build something else, they need to get as much as they can out of it. An article I found states that the housing market in the affected area is in such short supply that homes spared from the storm sell almost immediately and now storm victims are listing even damaged homes for top dollar. But with the sudden trend of everybody selling, it is widely believed that developers will soon buy up whole blocks of destroyed homes to put casinos and entertainment complexes up in their place. People in these areas will seemingly be forced out for good. There is a lot of poor people that need a place to live which brings up an interesting question. Is it right for these developers to come in and hog all the land? They are in a sense forcing some people out, but they are also rebuilding the area giving the opportunity for new business. Should the government step in and help mediate the problem, or will things work out the way they are going?
Posted by destiny at 10/14/2005 12:31:00 PM