Technology

Gentrification isn't the problem. Rent is the problem.

Eliminate rent. Convert rentals to land contracts or private mortgages. Convert apartments to condominiums

When the residents of a neighborhood are owners instead of renters, they gain an unexpected windfall from gentrification.

How do we eliminate rent? How do we convince landlords to sell? How do we convince them to issue land contracts instead of rental agreements?

Massively increase property taxes, but issue owner-occupant credits to revert those increases. Only owner-occupants get the credit. Investors do not.

Eat up their profits, unless they switch to an investment strategy that puts the deed in the occupant's name, such as a land contract or a private mortgage. With the deed in their name, the occupant gains equity as property values rise.

The concept of renting needs to die in a fire.

Or, the real sign of gentrification is that the Google Maps car drives by your neighborhood more than once every five years. Guarantee that’s not happening in the projects.

Oh hey, that’s my friend Jackie’s work. Neat seeing it in the wild.

@spacebar clicker Their earnings will be eroded unless they adopt an investment plan that transfers ownership to the occupant, like a private mortgage or a land contract