Comments on: Liberty Park, Alabama http://higley1000.com/archives/34 Racial Integration in the Wealthiest 1000 Places in America Mon, 23 Jan 2012 20:04:52 +0000 hourly 1 http://wordpress.org/?v= By: Stephen Higley http://higley1000.com/archives/34/comment-page-1#comment-16312 Stephen Higley Wed, 06 Jul 2011 17:05:05 +0000 http://higley1000.com/archives/34#comment-16312 This is a reply to the question as to how the upscale real estate of Birmingham has done since the "real-estate bust". There are a couple of interesting movements in upscale real estate... mainly that the movement is generally much slower the higher the house value. It appears that the truly wealthy have enough money to wait out this downturn and as a result there are many houses that have been on the market for a long time. The old money set of Mountain Brook are putting off any "aspirational" moves. The nouveau riche of Greystone and Liberty Park are much more willing to take less for there homes as they are corporate nomads and following their careers is of utmost importance. I wouldn't be surprised if their corporate masters will take the house off their hands so their valued employee can move and not lose his or her shirt. This is often written into higher management's contracts (along with the lease for the BMW and the country club membership). Either way, new or old money, their are many fewer foreclosures in rich neighborhoods than poor. These households have the financial wherewithal to wait this downturn out. However, with the real estate market expected to be in the doldrums for another 5-7 years, it will be interesting to see how it turns out for them. The truly wealthy have seen the stock market recover as profits have soared and therefore, dividends are no longer threatened. The Republicans are certainly waging a continued class warfare on the middle and lower classes and appear to be adamant at keeping the filthy lucre that has come there way starting with Reagan. Personally, I don't think Obama has the brass to stare them down... no cojones. The really interesting question is whether the corporate masters of the Republican Party will face financial Armageddon by letting the anti-intellectual Tea Party rabble push the country's credit rating off the cliff come August 2nd...... Life is still good for the top 1%. These are the people that live in the Higley 1000 neighborhoods. This is a reply to the question as to how the upscale real estate of Birmingham has done since the “real-estate bust”.

There are a couple of interesting movements in upscale real estate… mainly that the movement is generally much slower the higher the house value. It appears that the truly wealthy have enough money to wait out this downturn and as a result there are many houses that have been on the market for a long time. The old money set of Mountain Brook are putting off any “aspirational” moves. The nouveau riche of Greystone and Liberty Park are much more willing to take less for there homes as they are corporate nomads and following their careers is of utmost importance. I wouldn’t be surprised if their corporate masters will take the house off their hands so their valued employee can move and not lose his or her shirt. This is often written into higher management’s contracts (along with the lease for the BMW and the country club membership).

Either way, new or old money, their are many fewer foreclosures in rich neighborhoods than poor. These households have the financial wherewithal to wait this downturn out. However, with the real estate market expected to be in the doldrums for another 5-7 years, it will be interesting to see how it turns out for them. The truly wealthy have seen the stock market recover as profits have soared and therefore, dividends are no longer threatened. The Republicans are certainly waging a continued class warfare on the middle and lower classes and appear to be adamant at keeping the filthy lucre that has come there way starting with Reagan. Personally, I don’t think Obama has the brass to stare them down… no cojones.

The really interesting question is whether the corporate masters of the Republican Party will face financial Armageddon by letting the anti-intellectual Tea Party rabble push the country’s credit rating off the cliff come August 2nd……

Life is still good for the top 1%. These are the people that live in the Higley 1000 neighborhoods.

]]> By: Riz http://higley1000.com/archives/34/comment-page-1#comment-16289 Riz Wed, 06 Jul 2011 15:02:17 +0000 http://higley1000.com/archives/34#comment-16289 Perhaps Mr. Higley will post an update (to upscale Birmingham real estate) in light of the real-estate bust. Would be interesting to get his insight. Perhaps Mr. Higley will post an update (to upscale Birmingham real estate) in light of the real-estate bust. Would be interesting to get his insight.

]]> By: Andy http://higley1000.com/archives/34/comment-page-1#comment-1201 Andy Mon, 26 Apr 2010 19:49:07 +0000 http://higley1000.com/archives/34#comment-1201 And why is there a dilution of services? Because all of the rich white people left. You can't expect a city whose tax base has fled and started their own community to provide as good services. The Birmingham area could use more frank discussion of our self imposed segregation like this. And why is there a dilution of services? Because all of the rich white people left. You can’t expect a city whose tax base has fled and started their own community to provide as good services. The Birmingham area could use more frank discussion of our self imposed segregation like this.

]]> By: Charles http://higley1000.com/archives/34/comment-page-1#comment-945 Charles Sat, 12 Dec 2009 13:15:38 +0000 http://higley1000.com/archives/34#comment-945 Good article. I would however suggest you leave some of the snide remarks off. Discussing a Birmingham annex of North Shelby land versus a Vestavia annex of Liberty park land is comparing apples to rotten oranges. Birmingham adds a 1% occupational tax to everyone who works in the city limits. The services in Birmingham (I would argue) are stretched thin to patrol and fight fires in the existing areas. Not to mention the school performance of the urban poor versus suburban affluent. People of means generally expect more than what is provided from such municipalities in these key areas. It's not racism, it is dillution of service per citizen that I see as the issue. Good article. I would however suggest you leave some of the snide remarks off. Discussing a Birmingham annex of North Shelby land versus a Vestavia annex of Liberty park land is comparing apples to rotten oranges. Birmingham adds a 1% occupational tax to everyone who works in the city limits. The services in Birmingham (I would argue) are stretched thin to patrol and fight fires in the existing areas. Not to mention the school performance of the urban poor versus suburban affluent. People of means generally expect more than what is provided from such municipalities in these key areas. It’s not racism, it is dillution of service per citizen that I see as the issue.

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