Loomio
Tue 13 Nov 2018

11/13/18: Hearing on Gentrification & Displacement in Roxbury

BW
Bill Wendel Public Seen by 213

Anyone want to attend this meeting tonight instead of meeting at ImpactHubBOS to debrief #NARinBos18? Eager to use this public hearing on gentrification & displacement in Roxbury to learn more about what impact investors, particularly #SpeculatorsWithoutBorders, are having on renters & would be homebuyers in Boston.

From my perspective, a prediction by Inman News that iBuyers would represent 20% of home purchased in 2019 overshadowed other news. If gentrification and displacement are already at crisis levels, how will ordinary people compete when investors can turn listing presentations into CASH offers?

Attending with another person who wants to prototype a "people's alternative" to iBuyers and eager to exchange ideas with others.

Today at 5:30 PM – 8:30 PM
Bruce C. Bolling Municipal Building
2300 Washington St, Roxbury, Massachusetts 02119

Hosted by City Councilor Kim Janey
https://www.facebook.com/events/521624194968455/

RW

Ruthie Woods Tue 13 Nov 2018

Wow, this seem interesting. I wish I would have seen this earlier. I don’t think I’ll make it in time. If you could let us know how this went it would be great.

BW

Bill Wendel Tue 13 Nov 2018

@ruthiewoods Thx4 your comment. Waiting for the hearing to start, and invite others who are not yet familiar with iBuyers to scan these excerpts:

http://bit.ly/iBuyerC2C

The first link is from Inman Coast-to-Coast, which includes 15,000+ tech savvy real estate agents who enjoy tracking and debating industry trends. iBuyers are among the most controversial new business models in the industry -- I've begun to call them the "shape shifters of real estate," because it's not clear what role they're playing.

They make an appointment as a listing agent, then present a CASH offer for an institutional investors (making them a buyer agent) or if it's their company's own funds, makes them the buyer (hence engaging in self dealing?) The model started with OpenDoor, then Zillow jumped in, which caused Redfin, Coldwell Banker & Keller Williams to follow.

One of the mega-brokers above says, will duck all of the who's side are you on by simply saying, "we acting as facilitators." Raises questions about who's protecting the consumer, doesn't it? That's why members of the Mass Board of Real Estate have agreed to include the issue on their next public meeting.

Does anyone know if the Mass Real Estate Board has appointed a new executive director yet? If not, should we volunteer the collective services of this group? I think we've got the wisdom, experience and perspective to protect the consumer through the changing market. If you'd not seen the article, this megatrend is why it's essential for aging sellers to know who will be protecting them in the future:

http://bit.ly/SrSellOff

BW

Bill Wendel Tue 13 Nov 2018

Not sure if there is a hashtag, but here's one of the tweets I've posted:

https://twitter.com/RealEstateCafe/status/1062491768581693440

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Ruthie Woods Wed 14 Nov 2018

Thanks Bill

BW

Bill Wendel Wed 14 Nov 2018

Finally, a link to the LIVESTREAM from @WGBH reporter:

https://twitter.com/SWINTERSMITH/status/1062503950962831371

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Ruthie Woods Wed 14 Nov 2018

Oh this is great! Thanks