Ron Corey | Indy Week

Ron Corey 
Member since Jan 7, 2018


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Re: “John Little and Other Developers Are Gentrifying Durham’s East End. They’re Not About to Apologize.

I've lived in Durham for over 12 yrs now and have seen and experienced it's good and bad. I have a family member who is mortgaging three different rental properties in different areas of central Durham. I have done some work on these properties and spent time in the neighborhoods. I have driven through, visited, and shopped in almost every area of the city of Durham. I have gone out to all the trendy restaurants and bars in downtown.
I like Durham. It has, by American standards, a rich history, good architecture, and cultural vibe.
BUT!
I can NEVER see any reason that ANYBODY would pay the prices on housing or rent that is being pushed right now in these new apartments and small houses or old refurbished houses.
All these folks are living about two blocks or half a mile away from a shooting or drug deal or high unemployment and blight. The public schools aren't being utilized by these trendy new residents and are suffering. Lack of parking abounds.
The "Two Durham's" will collide and, in the end, the folks who have always been here will remain, and the hipsters and elites will be stuck with homes and rents worth half of what they hoped for.
This market will implode in the next ten years.

7 likes, 7 dislikes
Posted by Ron Corey on 01/13/2018 at 2:48 PM

Re: “Talking About Affordable Housing Is Easy. Actually Building It Is Much More Difficult.

I've lived in Durham for over 12 yrs now and have seen and experienced it's good and bad. I have a family member who is mortgaging three different rental properties in different areas of central Durham. I have done some work on these properties and spent time in the neighborhoods. I have driven through, visited, and shopped in almost every area of the city of Durham. I have gone out to all the trendy restaurants and bars in downtown.
I like Durham. It has, by American standards, a rich history, good architecture, and cultural vibe.
BUT!
I can NEVER see any reason that ANYBODY would pay the prices on housing or rent that is being pushed right now in these new apartments or old refurbished houses. No matter how well off financially that you think you are or how out of touch with real estate prices you are, spending $500K on an 80 yr old house or renting a two bedroom apartment for $1500/mo!
All these folks are living about two blocks or half a mile away from a shooting or drug deal or high unemployment and blight. The public schools aren't being utilized by these trendy new residents and are suffering. Lack of parking abounds.
The "Two Durham's" will collide and, in the end, the folks who have always been here will remain, and the hipsters and elites will be stuck with homes and rents worth half of what they hoped for.
This market will implode in the next ten years.

5 likes, 4 dislikes
Posted by Ron Corey on 01/07/2018 at 12:27 PM

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