Housing crisis: Do homes for $1 schemes work?

Published On Oct 6, 2024, 7:21 PM

The article discusses schemes in Baltimore and Liverpool where derelict homes are sold for just $1 to encourage urban regeneration. While some buyers have transformed these properties into homes, there are concerns that such programs benefit those with existing financial means, potentially leading to gentrification and pushing lower-income residents out of their neighborhoods. Critics, including notable figures like David Simon, argue that while these initiatives can enhance property values and tax revenues, they have not effectively addressed the needs of economically marginalized communities. The article illustrates the complexities of urban renewal efforts, emphasizing the need for more inclusive strategies.