While I won't defend him on run down rentals I think it is unfortunate that society wants to hold him responsible for vacant properties and drug trade which he did not create.

In Houston the "slums" are seeing active construction and increasing government presence (beautification agendas, active city notices to clean up, etc.) as there is a mass movement for "urban living" within these areas 15 min or less to downtown/medical center.

I purchase in urban neighborhoods 

Real estate is a necessity for society, it is not a luxury item, (can be) but in fills a basic human needs. 

Instead, the county council is restricting rural growth (unless you're a Master Builder campaign contributor) and channeling it into the western urban county.Seller situations vary, too: The seller of the low-priced comp home may have had very motivated sellers who accepted a lowball offer. 

Since people are creatures of habit, are tied down by work commitments, or family and society pressure to buy, those feeling the itch to buy in their loins are going to do so regardless of market timing.

It is not a question of ethics and morals, these are merely constructs created by one form of society that will be different in another form of society.

Apparently, enough people are concerned about the price of oil that it has affected Houston’s ranking according to the Urban Land Institute.

That's one of the bad sides of the "instant information" society we live in.

I took two classes in grad school; Architect as Developer and Urban Real Estate Development.