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I think the better comparison to the surface Crosstown is St. Clair, where there has definitely been extensive gentrification and intensification in its wake. (I suppose one can't be certain that it is only the LRT that has produced the effect, but it sure has helped.)
 
I received a letter from an independent real estate developer that he would want to buy not just my house, but the entire postal code's worth of houses (and I live approximately one kilometre north of Eglinton).

I might end up being a victim of gentrification.
 
Johnny Au said:
I received a letter from an independent real estate developer that he would want to buy not just my house, but the entire postal code's worth of houses (and I live approximately one kilometre north of Eglinton).

I might end up being a victim of gentrification.
Click to expand...

Does said letter relate what the plan is when he assembles said block?
 
Zach6668 said:
"Victim"?
Click to expand...
I dont understand it either. People paid super little to live in these priority neighbourhoods at one point. And now they are being offered 2-4 times what they paid. And somehow they are victims of gentrification. So people want their property values to go up but then when they do they find a way to play the victim. I just dont understand. A friend of mines house in the area was 200k in 2000, then 500k in 2010 and now 1 million. Real victim.
 
sixrings said:
I dont understand it either. People paid super little to live in these priority neighbourhoods at one point. And now they are being offered 2-4 times what they paid. And somehow they are victims of gentrification. So people want their property values to go up but then when they do they find a way to play the victim. I just dont understand. A friend of mines house in the area was 200k in 2000, then 500k in 2010 and now 1 million. Real victim.
Click to expand...

It's not necessarily individuals that are victims of gentrification, but the broader community. A few people may cash in while others in the community are directly or indirectly priced out of their homes. Furthermore, the split between rental and owned housing in the area is 50%. The 50% renting won't experience the financial benefits you describe.
 
I see renters as people who are waiting for the price of houses/condos to drop to an affordable level for them to buy.

Instead of buying a one-bedroom condo or even a duplex to rent out a floor, to get their equity starting, they're wanting to buy a single-family McMansion right off the bat. In the meantime, they spend their money on vacation cruises each year.
 
TheTigerMaster said:
It's not necessarily individuals that are victims of gentrification, but the broader community. A few people may cash in while others in the community are directly or indirectly priced out of their homes. Furthermore, the split between rental and owned housing in the area is 50%. The 50% renting won't experience the financial benefits you describe.
Click to expand...
Some people also grow attached to their neighbourhoods and are reluctant to move away, despite the incentive to sell for a huge payout.
 
Seen that in some real estate shows on TV. The buyers reluctantly would want to relocate, but in the same neighourhood.
 
sixrings said:
I dont understand it either. People paid super little to live in these priority neighbourhoods at one point. And now they are being offered 2-4 times what they paid. And somehow they are victims of gentrification.
Click to expand...

Ok, so a person can sell their home for good money. That's great. Now tell me, where in this city could they afford a new home in a similar neighbourhood with the same good access to rapid transit, without spending 100% of their profits just to buy the new property?
 
TheTigerMaster said:
It's not necessarily individuals that are victims of gentrification, but the broader community. A few people may cash in while others in the community are directly or indirectly priced out of their homes. Furthermore, the split between rental and owned housing in the area is 50%. The 50% renting won't experience the financial benefits you describe.
Click to expand...

Having a developer offer to pay you at or above market price for your home can in no reasonable way be characterized as being priced out of one's own home.
 
salsa said:
Ok, so a person can sell their home for good money. That's great. Now tell me, where in this city could they afford a new home in a similar neighbourhood with the same good access to rapid transit, without spending 100% of their profits just to buy the new property?
Click to expand...

They don't have to sell. It is a choice.
 
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