A burst of new home construction in Boston, Philadelphia, Washington, Pittsburgh, San Francisco, and other cities have caused neighborhoods in those cities to quickly gentrify, and if you are a longtime resident and homeowner in those cities, it’s possible that you’ve seen the value of your home skyrocket as much as four times in a single year. Great, right? Not exactly. Not if you can no longer afford the property taxes and don’t want to sell your house. The Times reports that cities are mobilizing to help their longtime residents affected by gentrification by giving them cuts on their property taxes—which alleviates the burden among longtime residents, but will ultimately affect each city’s annual revenue. Still, the cities believe investing in longtime residents is worth it:
The tax adjustments are part of a broader strategy by cities to aid homeowners — who continue to struggle financially since the home mortgage crisis. In Richmond, Calif., lawmakers are attempting to use eminent domain to seize underwater mortgages to try to help homeowners keep their houses.
Housing experts say the arrival of newcomers to formerly working-class areas — from the Mission District in San Francisco to the Shaw neighborhood in Washington — is distinct from previous influxes over the past 30 years because new residents are now far more likely to choose to move into new condominiums or lofts instead of into existing housing, making the changes more disruptive.
The PWWBMS wrote back confirming the receipt of the project and said they would be in touch in the next couple of weeks. Spoiler: They didn’t! It has now been over four months and now I am kicking myself for not following up earlier on – maybe a month after PWWBMS’s email.
The Wall Street Journal’s Katy McLaughlin wrote her final column about money this weekend, and her takeaway is something we always talk about here: What we learn from each other when we talk about our money.
Like tens of thousands of other travelers this winter, Reuter’s Lauren Young had to deal with attempting to fix her travel plans after her flight was canceled due to bad weather. Young runs through the various things she should have done when she started to receive travel advisories, namely, she should had rebooked her flight.
Square, the mobile payments company cofounded by Twitter’s Jack Dorsey, put together a map of average haircut prices for men and women in various cities across the U.S.
How were your weekends?
Mike: Meaghan you went on vacation for a little bit—when was this planned and how did you decide where to go?
Earlier this week Yelp came out with its list of the 100 most highly rated places to eat in the U.S. and a small seafood joint in Hawaii named Da Poke Shack topped the list. When restaurant reviewers talk about our country’s best restaurants, they usually come with white tablecloths and big bills like Chicago’s Alinea, and the Napa Valley’s French Laundry. As Will Oremus writes in Slate, the Yelp list works as an equalizer of all the dining establishments we have:
Richard Cordray, the director of the Consumer Financial Protection Bureau, is urging credit companies to provide customers with their FICO credit scores for free on their monthly statements. The scores are used to determine our ability to access credit like taking out a loan for a house or car, and on our ability to get a desirable low interest rate on those loans. “Making consumers’ credit scores freely available on their monthly statement or online makes it easier for them to spot problems with their credit report,” Cordray said.
What are your estimates?
Auras are “the luminous color fields many psychics and spiritualists believe surround all people and things, illuminating their moods, health, preoccupations, and future,” and Katie Heaney recently paid someone $21.67 to take a photo of her aura and wrote about it for her latest column at Pacific Standard