Baltimore Housing Boom Leaves Less Room for Poor After decades of urban decay, Baltimore is experiencing a real-estate boom, with investors pouring money into abandoned properties. But some worry the speculation may lead to a financial meltdown. Others note it has already displaced some poor residents.

Baltimore Housing Boom Leaves Less Room for Poor

Baltimore Housing Boom Leaves Less Room for Poor

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Sign of the times: Many out-of-town investors are buying up abandoned or dilapidated property in Baltimore in hopes of a quick turnaround. Eric Niiler, NPR hide caption

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Eric Niiler, NPR

Lifelong East Baltimore resident Tina Collins has been kicked out of her house three times. Eric Niiler, NPR hide caption

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Eric Niiler, NPR

Baltimore's inner city is on the rebound. After decades of population loss and urban decay in Baltimore, out-of-town investors are pouring money into hundreds of abandoned properties.

The renovations are putting a shiny new face on the city, but some people worry this real estate speculation may lead to a repeat of the financial meltdown that occurred two decades ago. The city's current real estate boom is already displacing some poor residents.

East Baltimore alone has lost a thousand units of affordable housing in the last five years. Many long-time, low-income residents are being moved into rent-subsidized properties in the suburbs, far from their local churches and schools. Tina Collins, 41, is one of them.

"Well me and my daughter have been displaced from our homes three times," Collins said. "Landlords are deciding to sell the property because the market's hot right now. At one time, we were homeless for six months."