My neighbor can no longer live in his million-dollar house. It makes me think about the value of 'home' versus the value of property.
“Cash for houses” — you see the signs on telephone poles in humble neighborhoods all over the city. Including where I live, a quiet enclave by the L.A. River, an even blend of working-class Asians, Latinos and artsy types of all ages. Many nearby homes have been in the same family for decades, with different generations living in them. Owners might be sitting on a million-dollar asset, but they still leave at dawn to go to work.
With $2 million from L.A. County, four business owners finally have enough to buy their building. It shouldn’t be this hard to build Black wealth. Pointing in the direction of the river, Buster’s owner says he might be living over there soon. By majority rule, his siblings recently put their family house up for sale. They’re using a traditional agent though, not one of those cash-for-houses deals. Maybe the taxes and upkeep are an albatross. I don’t ask why.
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