2006-09-14 15:20:26 · 15 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
The Property Cycle. Some areas pass out of fashion only to rise up again years later as they become"gentrified" with new occupants moving to into conveniently located neighborhoods with property at the right price.
Round and round it goes......
2006-09-14 15:24:09 · answer #1 · answered by Bart S 7 · 1⤊ 0⤋
I do not know where you are but here it seems to be a different story.
I live in Texas and the neighborhood I was raised in is the only neighborhood I will take my Children for Halloween or Christmas Caroling!
The same Families have been there forever, Grandchildren living in the Homes of Grandparents when they Pass. Living across the street from people they went to school with.
I lived there 40 years ago and it is getting better every day.
The trees are bigger and the neighborhood is closer than ever!
The answer to your question would be
You have People that Care
and people that don't
2006-09-14 22:32:39 · answer #2 · answered by LN has3 zjc 4 · 1⤊ 0⤋
It is simple. That reason that neighborhoods go to the dogs is that big companies providing high paying jobs move out of the neighborhoods and then low paying job companies move in and then people that buy houses at lower prices do not take care of of the house because they don't have enough money for it.
Take for example Downey, California. An aerospace company moved out, then low paying companies moved in and the neighborhood goes to the dogs.
2006-09-14 22:43:06 · answer #3 · answered by Morgan 3 · 1⤊ 0⤋
If the jobs have left town or the property values dropped that could be one cause. People buy up cheaper housing as investment property then rent it out and some renters will trash a home.
The fastest way for a property to go "ghetto" as you put it is to have it turn into government housing. People take care of what's theirs. But if you give them government housing they have no incentive to keep up the property and it goes to ruin.
2006-09-14 22:26:42 · answer #4 · answered by Sara 6 · 3⤊ 0⤋
Look around. see whats happening. are the people keeping up their homes , or letting them fall into disrepair. who lives in these neighborhoods. original owners , or renters. or both . Only people make up a ghetto , not the house.
2006-09-14 22:58:13 · answer #5 · answered by joy 3 · 1⤊ 0⤋
As the owner move out the renters move in.The renter don't have the money or care about the property enough to keep it up. In some cases the City or the County won't fix up either.
2006-09-14 22:26:57 · answer #6 · answered by bksugar 3 · 1⤊ 0⤋
They become low income housing after a few decades since the homes are older and people tend to move to newer neighborhoods.
2006-09-14 22:25:05 · answer #7 · answered by Anonymous · 1⤊ 0⤋
People don't take care of the houses and the area. They usually say when renters start moving in, things start going downhill.
2006-09-14 22:28:39 · answer #8 · answered by First Lady 7 · 1⤊ 0⤋
The ebb and flo of economics. The jobs left the area. We have that problem all over the place here.
2006-09-14 22:21:39 · answer #9 · answered by Lisa 6 · 1⤊ 0⤋
One reason may be a phenomena called "white flight." Potentially at some point, minorities started moving into the area, causing white residents to relocate to other areas.
2006-09-14 22:23:20 · answer #10 · answered by Joy M 7 · 2⤊ 2⤋