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[quote=Anonymous]In my neighborhood, some normal turnover occurred but the new folks moving in definitely affected housing prices so people who had grown up in that neighborhood couldn't afford to buy or rent there.

There are limits on how fast your property taxes can go up in DC to 10% a year for the home you live in.  Plus you get the homestead exemption so if you bought a long time ago your taxes are lower.  But for some people with limited means that's still a difficult increase to make up.

I did have neighbors who lost their house due to not keeping up on their property taxes.  I checked the records and saw that this had happened to them before but they had managed to pay them in the past.  But this most recent time, they were ensnared by I think it was Aeon (WaPo did a feature on it recently), that vicious company that buys up houses in tax sales and then tacks on thousands of dollars as fees.  I'm guessing there was no way they could  have paid off the new charges and they just let their house go.

Also I had neighbors who had lived there for years who had low rent and then their house was flooded in a bad rain.  They thought the landlord was being slow in fixing the house because the landlord wanted to rent at a higher price to new tenants.  They ended up buying a house east of the river back before the crash when it was easy to get loans but I think they would have preferred to buy in our neighborhood.  That house now rents for twice what they paid.[/quote]

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