Article:

Oklahoma County residents are growing increasingly worried as the soaring housing prices and a remarkable population boom begin to transform Oklahoma City into a potential symbol of urban decay, reminiscent of San Francisco. The rapid surge in house prices has led to a wave of evictions, leaving locals displaced from their homes.

According to the Oklahoma County Assessor, the average house price has more than tripled since 2001, skyrocketing from $74,715 to $264,844 in 2023, marking a staggering increase of 354 percent. Downtown Oklahoma City has experienced an even more dramatic spike, with median home sales more than doubling to $690,000 over the past decade, while the rest of the state capital saw values rise by only half to $200,000. These statistics were revealed in a recent report by real estate tracking site Property Shark.

As a result of the housing crisis, homeless encampments have begun to plague downtown streets, leading to an increase in vandalism. Concerns are mounting that the extraordinary population boom is transforming Oklahoma City, once known for its hassle-free environment, into a city plagued by urban decay, resembling the dire situations seen in San Francisco, California, New York, and Washington D.C.

Gary Jones, the government affairs director of the Oklahoma City Metro Association of Realtors, warned that the current trajectory of the city is comparable to the beginnings of the homeless epidemics that have devastated other major cities. Homeless encampments have reportedly sprouted across Oklahoma City almost overnight, accompanied by a rise in panhandling at major intersections and in front of retailers.

Oklahoma City is one of 14 American metropolises that have gained over 100,000 residents between 2010 and 2020. The city's low unemployment rate and affordability have attracted outsiders seeking refuge from crime-ridden Democrat states. However, the construction boom has largely focused on high-end properties, causing prices to surge and leaving fewer affordable homes available. This has led to a vicious cycle where rising costs result in more evictions and homelessness, ultimately leading to an increase in property crime.

In 2023, Oklahoma County witnessed 17,868 eviction filings, with 8,602 resulting in eviction judgments, as reported by Shelterwell, a state housing group. Currently, around 1,400 people experience homelessness in Oklahoma City on any given night, with approximately 500 individuals sleeping on the streets. Recognizing the severity of the issue, the city has allocated $12.5 million to address the crisis.

The situation in Oklahoma City is not unique, as many red state cities across America are grappling with an influx of outsiders from economically troubled areas. The housing crisis has led to conflicts between long-time residents and newcomers, with locals expressing concerns about the potential impact on their communities.

As Oklahoma City faces the challenges posed by rising house prices and a population boom, attention and assistance are urgently required to prevent the city from descending into the same urban decay witnessed in San Francisco and other major cities. It is a critical time for local officials to address the issue and find sustainable solutions to ensure a fair and affordable housing market for all residents.