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by hehebbssjj 2117 days ago
Part of the problem is that Black people never had the opportunity to buy the properties they occupied, even at depressed prices when those properties were undesireable. So when gentrification occurs, rents go up and they're shut out. If there wasn't a massive wealth gap to begin with you'd see more Black homeowners in gentrifying areas making bank on their massively appreciated houses.
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In some cases, it's worse. Some families that were able to buy properties have had them for so long they only owe taxes each year. Then some developers petition the city that those properties are vital, and they are granted eminent domain. Even if they are paid the amount of the suppressed values of their property, there's no way they can afford to do anything with that money. Plus, they are now forced out of the property that has been in their family for a long time.
Does the US have a lot of eminent domain for development?
Yes. One of the sticking points to 'build that wall' is the land they want to build the wall is owned by private citizens. Oil & Gas, transportation, etc have all used it to get the land.