THE WATER COOLER
As reported by the American-Statesman’s Mary Huber, 13 neighborhoods are starting to gentrify or see longtime residents displaced by rising property values, according to a new University of Texas study. Touted by researchers as one of the first steps toward solving the city’s affordability problem, the study looked at areas with large proportions of economically vulnerable residents, such as renters and people of color. Researchers looked at whether those places experienced demographic and housing market changes in the past 20 or so years.
Meg Poeter: Studying the existence of a phenomenon that is already proven to exist seems like a useless expense. Why not cut to the chase and propose solutions?
Stephanie McCollum Ferguson: What about people in these neighborhoods who own their homes? Are they being pushed out because tax rates are based on home value, and they can’t afford the ever-increasing taxes? Maybe if they were given tax relief, that would help. Also, if the government relied a bit on income tax instead of mostly property tax, these people would be less vulnerable. States with income tax don’t necessarily have a higher tax burden.
Cindy Stewart Hale: It’s a good first step, but unless Austin takes it further and develops a realistic affordable housing plan (to be implemented now, not 10 years from now), it’s useless.
Mark Tarbet: At the risk of sounding “cold,” this is the free market at work. Areas become popular; supply and demand kick in; prices go up — and keep going up until no one will pay for it. Econ 101. It’s not a bad thing. It is unfortunate that someone who has lived downtown forever has to leave, but that’s just life, things change. We all have to deal with change ... Why are low-income folks or anyone else so special that they deserve special accommodation to be able to live in a place they cannot afford?