Back to Breonna Taylor for a moment.

crimson5pheonix

It took 6 months to read my title.
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A couple of things have happened since she's been killed.

One: A possible motive for the police officers to murder her and her boyfriend; an attempt (a successful one as it turns out) to evict them from the home so the city could buy it and gentrify it. After being killed, the city bought their $17000 home for $1.


The other:

 

Piscian

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I still firmly because the cops were trying to hit a drug stash. So much of it doesn't make sense. How they were monitoring the dealer, how they got the warranty and why it was just 3 random cops in plain clothes at 1am. I'm 1000% confident it was some Training Day, Street Kings type shit. In a normal raid you'd have a big squad coming in like storm troopers. Three plain clothed cops? horsehit.
 
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Eacaraxe

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It's not really a secret if you're local. The lawsuit was filed back in 2020, while the protests were still going on.

Wait, what... $17000 home?
Yeah, I'd believe it. Here's an article with photos of the property in question:


Long story short, Russell's a shithole and the city has been trying to gentrify it for thirty-odd years, since the whole new urbanism trend started. It's not the worst place in Louisville, but close. As in there's a chicken joint on Broadway that's been robbed so many times, they installed bulletproof glass between the kitchen and dining area, and you pay and get your food through one of those countertop sliding transaction trays. I'm not even saying that to be a dick, or invoke negative racial stereotypes, that's a factual description of an actual restaurant that exists and does business in Russell, and the security measures that have to be in place to do business in Russell.

They do have fucking good chicken, though.

Developers wouldn't even look twice at the neighborhood despite its location, until post-2008 when property values, gas prices, traffic congestion, and social trends hit a perfect storm of "gentrify this area by any means necessary". Of course this is counter-balanced by the giant sewage treatment plant the city decided to put on the Ohio riverfront, directly upwind from this part of town. The city of Louisville really dislikes black people.

But anyhow, the point: it's a decades-old shotgun shack. Average property values in the area are something like $45k, and that's after real estate speculation bubble that oh-so-perfectly coincided with Covid (and the fed turning the "unlimited money faucet" on full blast for hedge funds and investment banks) massively inflated property values. When this transaction happened, $17k was almost certainly an overestimate based on what the speculative value would have been at the time.
 

Trunkage

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It's not really a secret if you're local. The lawsuit was filed back in 2020, while the protests were still going on.


Yeah, I'd believe it. Here's an article with photos of the property in question:


Long story short, Russell's a shithole and the city has been trying to gentrify it for thirty-odd years, since the whole new urbanism trend started. It's not the worst place in Louisville, but close. As in there's a chicken joint on Broadway that's been robbed so many times, they installed bulletproof glass between the kitchen and dining area, and you pay and get your food through one of those countertop sliding transaction trays. I'm not even saying that to be a dick, or invoke negative racial stereotypes, that's a factual description of an actual restaurant that exists and does business in Russell, and the security measures that have to be in place to do business in Russell.

They do have fucking good chicken, though.

Developers wouldn't even look twice at the neighborhood despite its location, until post-2008 when property values, gas prices, traffic congestion, and social trends hit a perfect storm of "gentrify this area by any means necessary". Of course this is counter-balanced by the giant sewage treatment plant the city decided to put on the Ohio riverfront, directly upwind from this part of town. The city of Louisville really dislikes black people.

But anyhow, the point: it's a decades-old shotgun shack. Average property values in the area are something like $45k, and that's after real estate speculation bubble that oh-so-perfectly coincided with Covid (and the fed turning the "unlimited money faucet" on full blast for hedge funds and investment banks) massively inflated property values. When this transaction happened, $17k was almost certainly an overestimate based on what the speculative value would have been at the time.
Well, I was expecting the stereotypical rundown Appalachian/West Virginia (and I assume worth less than this city) properties being worth at least $50k

I remember my brother buying a property in the ass end of nowhere (called Blackbutt) for $80k.... in the early 2000s. Places like Thargominda, Winton and Birdsville generally go for 200k and they are in the middle of nowhere. 130k for a one room house, which just looks like a permenant caravan. Undeveloped bushland goes for about 20k

I just assumed that all places would hold value somewhat in line with the rest of the country

I'll adjust my expectations accordingly