Real estate speculators come to the purchase of hit houses for a disaster

“Hi Gina, I hope you have a great day,” he said another exactly two weeks later. “My name is Christine, I am a buyer of land. I reach to see if you have any plans for the sale of fate.” The text was signed by “Twin Acres”. Twin Acres is not a registered real estate broker. The grist attempt to send the number back was unanswered.

Sometimes, Miceli said, responds to lyrics. “It depends on my mood. I think there was a time or two that I said,” Go to hell. ” There are no plans to leave. She raises his family at the house, which was bought by her husband’s grandparents, and she is the owner of a local brewery.

Some theorists call This is the phenomenon of “Gentrification of disasters” when real estate investors flood the disaster zone to buy damaged real estate for cheap.

Samantha Montano, crisis management professor and author of the book DisadvantageShe spent years living and working in New Orleans after Hurricane Katrina and saw that this was happening with her own eyes. In areas such as the lower ninth unit, some people displaced by a storm did not have resources to return. The speculators came up. Some landowners have become Immediate MillionairesBy selling their properties to developers from outside the state who want to rebuild and reverse their property.

“The issue of gentrification in Nowy Orlean was there from the very beginning,” said Montano. “There were many groups that warned about this by dealing with housing policy and other recovery policies in order to take into account gentrification. [They] I tried to prevent this. “Twenty years later, the demographic data of the new Orleans moved: residents of lower income and black movedAnd the whiter, richer new inhabitants took their place. “Certainly everything is very related to recovery and those who had access to resources to return and reconstruction – and who does not,” she said.

Following Eaton Fire in Altadena, California, at the beginning of this year, half of the home purchases were limited by corporations with limited responsibility, According to apartmentsHouse design information page. This is almost twice as much, which they usually represent compared to people buying houses. Only six companies – they are analyzed by Ocean Development Inc. And Black Lion Properties LLC – the opinion of these transactions in Altadena, spending millions of dollars on the purchase of damaged real estate in historically black districts. It is difficult to find out who these companies are: they often contact potential sellers via false phone numbers or under the names that are not necessarily attached to real corporations.

The value of the land twisted to the disaster consistently Back quickly, This means that buyers can reverse land or houses – sometimes even without repair. Since climate change is fueled by more recurrent earnest natural disasters in the United States, “disaster investors” seem to achieve greater profits than ever – and communities such as North St. Louis have a load.