PRICED OUT OF THE PLACE YOU'VE CALLED HOME FOR 30+ YEARS!
It's always been a part of the American dream to own your home. That's exactly what the Reyna family did back in 1973. Papa Reyna bought a small house for a whopping $18,000 in what is now known as The Heights in Houston.
When you think about the Heights - a struggling Hispanic family doesn't come to mind in 2010. But that's exactly what the Reynas were back in 1973. They struggled to cut out a slice of that American dream.
Thirty seven years later Papa Reyna has retired to the Valley. Left behind in his American dream house in the Heights - his three children. Two adult sons and a daughter. The Insite had a chance to meet one of them and he's Ivan Reyna. I spoke with him outside of that same house that was once a dream 30+ years ago.
Across from the Reynas are two million dollar homes. Just down the block is another house that sold for $600,000. And that's the problem. Reyna says as a result of the revitalization of the
Heights he can't afford his father's dream any more. Ivan says, "the taxes have gone up 100% since they started building the mansions." That's exactly what Ivan's neighbors now live in mansions.As a result of the influx of the well-to-do the price of land in the Heights has gone up making it too expensive for long time residents like the Reynas. So what do they do now? They're moving out likely in the next year or so.
Ivan says they're hoping to get at least $250,000 for their aging home as is. He knows potential buyers are not interested in the small structure to live in. Many of the newcomers want to shop around, buy the land, and tear down the structure.
R
eyna says he's alright with that. He, his sister, and older brother are hoping to make enough off the sale to move down to the Valley where Papa is. He says there they can get 5 acres of land for a cool $90,000.So it's just a matter of time before all of the American dream owners in the Heights are gone only to be replaced by those houses where struggling is foreign to those who can afford to spend $250,000 to tear down a structure and build their version of the new American dream mansion!
I think that's a great return on an investment! He is selling that house for nearly 5 times what he paid for it! Why are they complaining?! At least they CAN sell it! My house lost almost 40% of it's value!
ReplyDeleteI'd be elated if my property value skyrocketed like that! CHING CHING!!$$$
ReplyDeleteThe problem here is that it's not his choice. No matter where your parents' home might be, the Heights or West U or Third Ward, imagine that the home where all your memories are is being taken from you, regardless of whether you CAN move somewhere else. We all, for the most part, can always move somewhere else. Not everyone is motivated by profit- some peoples' memories are priceless.
ReplyDeleteThat's just the way it goes sometimes.
ReplyDeleteLove the design of the house on the last photo.
ReplyDeleteDeirdre G
I'm torn and saddened by the changes in my neighborhood in recent years. i was raised here by my grandmother, and i am now raising my daughter here. There is no better place to do so... the memories of the people i knew and grew up with here are always pleasant. the trees, the safe streets, the warmness of our community. But in the past ten years i have seen this neighborhood lose its originality, and has been in a way commercialized. and the swarms of people wanting to make money and take advantage of the good the heights has to offer have rolled in. They buy homes.. and tear them down. I know this happens everywhere, and its a part of life. but when there is something special... you should always try to preserve it or at least not take advantage of it. for example, in most cases when they tear down these homes, they build two in its place. simple addition two homes twice the profit... and i need not to mention they are overly priced, and made of the cheapest wood compared to our houses. buyers are basically paying 5-800,000 for granite kitchens and 1-2 extra bedrooms, losing their land for a normal yard and view out windows, you have no yard in these lots, you can open your window and knock on your neighbors window to ask for sugar, thats how close they are.
ReplyDeleteI can not put full blame on anyone.. and those who havent lived here before or lived here in the "good ol days" can never understand what is being lost. its not just the house structures themselves... but home. this word brings feeling, love, warmth, a sense of belonging.
Most people who lived here before do not live here anymore.. for many reasons. some have wished to make a home elsewhere, others just could not afford it any more, others have aged an their sons and daughters have taken them, or they have passed away.. and the children have chosen to sell.
the original heights.. Most homes are small and quaint. Home... No over-sized rooms, or extravagant kitchens and baths. it was just enough for a close nit family to share. the streets full of trees, the yards were shared. kids could go and play freely through out the neighborhood in other peoples lawns, except for the occasional grouchy old man who yelled out his screachy screen door in the porch, but when it came for ice cream money earning time for kids, he happily paid us change to clean his yard.
My wish to continue sharing this experience with my daughter... are slowly vanishing away. We will lose our home and our community. Soon i will be forced out out of my house.. my neighborhood.. my treasured home. When you are about lose the only thing you know.. and know that where you are forced to go next is nothing like what you know, its a terrifying thing.
many reasons combined have made this outcome.. from not preserving our houses in heights, home builders trying to make extra money, rising taxes, old debt, accidental injury, uneducated lower class family, low ss fixed income, sudden unemployment, and the high influx of the rich, and time. i just didnt have enough time to change my family and i circumstances fast enough compared to the rapid growth our our community. Although i still don't lose hope... and i fight every day.. i know the end is near.
For those who only have dollar signs in your eyes.. know this,
ReplyDeleteno, we will not make a killing off of the sale
no, we do not want to lose our home
yes, the new homes built here have raised property taxes significantly
yes, the chances of selling your home as is to another family are low
yes, home builders will buy at lower rate
yes, if able to save our home we would
yes, the poor have been forced out
yes, most have been taken advantage of
no, they are not moving to better places
no, they are not gaining the american dream their parents and/or grandparents had tried so hard to leave them.. they are losing it.
yes, all the numbers being thrown around are wrong
yes, appraised property values on older homes are being exaggerated
no, we don't want your pity
Although i wish i could open peoples eyes to the great lose and unneeded "rejuvenation" the heights and its original owners are experiencing.. its something that cannot be done. Most people are now quick to speculate, judge, take advantage, disregard, and it seems as though they are at times unsympathetic. which i know not true... because when given light, one can then see.
my next wish.. is for those who are still fighting to keep our homes..
i know for most the fight is hard.. and we are at the losing end.. but don't lose hope.
Those are beautiful houses I want to live with my future family. Great house design too. :)
ReplyDeletePhilippines properties for sale