Back in 2007, the average price of a home in Inglewood, California (Not the best area.) was about $513k with higher end homes selling for as much as $625k.
The current average price for a home in the area is now about $242k.
But migratory trends have a tendency to shift - people go where there are better employment and social opportunities.
Sure, many smart people left the South to take advantage of opportunities elsewhere - but the even smarter ones are coming back to do what current residents failed to do.
2 comments:
Well the people who are returning are of a older age group. Plus the first migration was for opportunity and getting out of the hellish South. So the motivation of the two groups are quite different.
The people who are coming back are settlers instead of builders. So it's just a big Black middle class of educated folk. But, there aren't many industrious folk amongst the masses.
UBJ:
Are you sure that you are capturing all of the key elements of this dynamic that we are witnessing?
The US Census said that Blacks are both moving to the Suburbs AND moving down to Southern States.
I am not so sure that this is all a preemptive move to take advantage of cheep real estate.
Where in your analysis is there any mention of the urban "Mission Accomplished Cities" where our people were set forth on a "struggle" for economic prosperity, quality education and safe streets?
In many of these vacated cities these ends remain elusive despite the victories won using the METHODOLOGY that was chosen by the leadership.
If nothing else Black people would be wise to accurately model the MOTIVATIONS for this move because at some future interval in time the same forces will seek to compel us to act in a certain way. WE need to make sure that if we see the same set up again - we ask better questions as a means of ensuring a different result.
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