People Are Revealing The “Warning Signs” That A Place Is About To Get Really, Really Expensive

13.

“If you follow your local newspapers and you start reading about apartments being sold and the new owners wanting to renovate is a sign. This type of action by the new owner will usually come with mass eviction notices — especially, if they are rent-controlled and support certain demographics, like senior citizens or those who are lower income.”

“Then when the reno is complete, the new owner jacks the rent up ensuring old tenants can’t ever come back, sending displaced tenants away like a ripple effect to the next cheapest block or city. Then the neighboring apartment buildings say, ‘Well, the apartments next door are charging the new amount, so should I,’ then the next wave starts, with or without the renovations. The cycle continues. Demand in the new area for newly displaced or gentrified population will then be focused on by the last corporate apartments buyers to do it all again until we all live in a van down by the river.”

—u/labormarketguide