Tuesday, May 31, 2016

Gentrification is a policy choice

Stacy Head says there is a "constant drumbeat" to turn your neighborhood over to tourists. She seems like she means that in a good way.  Mayor Landrieu wants to turn more of the housing stock near you over to short term rentals. (The Planning Commision takes up a related issue this week that may be a barometer as to their willingness to comply with the mayor.)

Meanwhile, nobody who actually lives here can actually afford to live here. This week's Gambit points us to a recent report from the National Low Income Housing Association which says that, in order to afford a "fair market" 2 bedroom rental in Orleans Parish, a renter would need a household income of $38,520.  The same report estimates the median income for renters in New Orleans at $24,773.  So there's not a lot of money flying around the local economy for ordinary middle or working class people. But the rents are still going higher and higher.  That seems weird.

Also, real sstate sales are still hot.

Why is that

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