#AskSwell: ‘Flip or Flop’ host Tarek El Moussa is evicting a group of renters on a 100 year old property so he can build a 138 unit super complex
Now, obviously, in this case, to make matters worse, not only are they building a property that will likely cost several thousand dollars to stay in each month, but they are displacing a number of residents, some who have lived on this property for, I believe, up to 45 years, some that are obviously elderly, some with children. And this is a case where they could potentially get anywhere from $10,000 to $30,000 to relocate
Angela Kaye
@AnngieKaye · 4:08
And if they're elderly or whatever the current income levels are, and they don't have the income for these newer apartments, they're not going to be able to afford it even with a $10,000 to $30,000 relocation fee. So that is the dilemma. And that's where it's not fair. But who buys real estate just to sit there, right? So it's a complicated situation. It's a complicated situation
And I'll even play devil's advocate and say, let's say he is, for whatever reason, building an apartment or building a condo. And it's a complex for people in the modern era. Why can't it be affordable housing? That's something that really needs to be raised as far as a question that is constantly revisited
Evan Shannon
@evanbrookes · 4:32
Hey, Taylor. I think this is a really interesting subject and something that I definitely see a lot in my city. I live in Texas and I live in the Dallas Fort Worth area and we're seeing a lot of people getting place by these mega apartment complexes. And like you said, they're putting in all these units, but a lot of them are sitting empty. The average price or rent of an apartment in Fort Worth now is like 1300, $400 a month, something like that