January anti-gentrification protest in Old San Juan, Puerto Rico Wealthy settlers flocked to Puerto Rico during the pandemic, buying up multimillion-dollar properties.
Posters at a recent anti-gentrification protest compared Logan Paul and Brock Pierce to colonizers.
Locals say they can no longer afford their homes as real estate prices surge, The New York Times reported.
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Protesters at a recent demonstration in Puerto Rico held signs that read, “this is what our colonizers look like,” above black and white headshots of millionaires Logan Paul and Brock Pierce.The saying has become one of the rallying cries behind Puerto Rico’s anti-gentrification movement, along with “gringo go home,” and “Puerto Rico is not for sale.” Posters and graffiti with the taglines can be seen across San Juan, according to a report by The New York Times.Local residents told the Times they can no longer afford their homes and are being displaced due to the recent influx of wealthy settlers registered under “Act 22,” the island’s massive tax break.Between December 2020 and December 2021, the cost of living in Puerto Rico rose by a record-breaking 7% — the largest percent increase since December 1981. Over the past year, single-family housing prices have increased by over 18% , according to federal data.Brock and Pierce own multi-million dollar mansions and hotels on the island, purchased amid the crypto “gold rush” that peaked during the pandemic. Both men did not respond to Insider’s request for comment.”It’s getting crazy here in California, paying taxes,” Paul said on his podcast last February while […]
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