This is a short-sighted and simplistic analysis of how land value works. I'm in a terrific location. Walking distance from the Texas State Fair and Cotton Bowl. Walking distance from Deep Ellum with all of its hip clubs and restaurants. Walking distance from downtown. Walking distance to the Dallas Convention Center. You can get to the Longhorn Ballroom, Southside Ballroom, and American Airlines Center in under ten minutes.
The only downside for buyers of the past? It was a poor neighborhood. All of those multifamily apartment complexes being torn down were full of poor people, mostly dark-skinned, many of them non-English speaking. Now that their landlords spent the past 15 years doing zero maintenance until they could get the buildings condemned and force all of the tenants out without needing to have grounds for eviction, they can sell the land, and it doesn't make any difference if the experience of actually living here gets shitty because of all the parties and not having any neighbors. The buyers don't care because the buyers don't actually live here. The single-night renters don't care because they don't live here, either.
I did not hear a complaint about what it was doing to their property values. I did hear:
> virtually nonstop construction of new housing, almost nobody lives here, the neighborhood is completely hollowed out, and all of these new luxury homes are mostly party houses used by rich college students and bachelorette parties.
