Thursday, May 04, 2006

Urban Land Institute: Drop Dead, Homeowner

The MJS runs a story today about a couple whose home assessment jumped quite a bit in the past few years. They live in the Brewers' Hill area.

Waaaayyyy down at the bottom of the story is an absolutely chilling quote:

William Hudnut, a former mayor of Indianapolis who is now a senior fellow at the Urban Land Institute, said inner cities throughout the nation are seeing a similar phenomenon.

"Homes that you used to be able to buy for $5,000 or $10,000 are now going for 20 times as much," Hudnut said. "It's a bad thing for the person being forced out, but we need to revive urban neighborhoods."

Remember the line "We had to destroy the city in order to save it."?

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