In this September’s Newsletter, we talk about the divisive legacy of the US highway project and how a small Boston community fought back. We dig deep into how Lowell became Cambodia Town and how one man made a difference in building this early community for Cambodian Americans in Massachusetts. Lastly, we’ll look at this month’s housing report as we prepare for a bumpy ride!
TOP IDEA
How Your City Was Gutted By US Highways
The 1956 Highway Act was touted by Eisenhower as a project of great national interest. It was promoted as a result of WW2 and intense focused on creating a more mobile America in case of invasions. Some 40,000 miles of highway fundamentally changed our cities and how we live.These superhighways cut through neighborhoods and destroyed housing, most of it in poor areas of the city. Robert Moses, a prominent urban planner in 1960s NYC spoke publicly about the importance of clearing the slums.
And this happened across all major cities. In Boston, there was a plan to build a 10-lane highway right through Jamaica Plain, Roxbury, and Hyde Park. It was only stopped after thousands of residents and small business owners came out and protested against this. Cracking under pressure, Boston became the first city to use the Highway Fund to rebuild public transportation instead (*cough* Orange Line).
And today – there’s an annual Wake Up The Earth Festival that celebrates this rare victory in JP!
CAMBODIA TOWN
Cambodia Town in Lowell:
Lowell, MA is kind of your typical waning rust-belt city with a long history of textile production. BUT, it’s also got the biggest Cambodian population by percentage.
And a lot of this is because of one man: Professor Hai Pho from Umass Lowell.
In the 1970s, just when the US had totally botched their war in Vietnam, Hai Pho and his wife created the Indochinese Refugee Foundation (IRF) in Lowell which provided essential services for southeast Asians. Then in the 80s, Cambodian started migrating to Lowell from other parts of the United States.
This secondary resettlement happened for two reasons. The high-tech industry was booming in Mass and was driving up the relative wages for many of the refugees. More importantly, the first way of Cambodian migrants (aided by the IRF) established critical cultural and economic networks in Lowell which made it easier for new migrants.
HOUSING NUMBERS
Hold On For A Bumpy Ride
Condo prices are lagging behind CPI (4.5% vs. 8.5%). SFR and Condo Inventories are staying on market longer. Multifamily Inventory Nosedives: Landlords and House Hackers raising rent instead of selling their properties.
TLDR: Prices will moderate as both supply and demand decrease. Motivated condo sellers are in trouble. Cash buyers seeking luxury condos: Prepare for a shopping spree.
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