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Whatever, Hustla. You really are like a broken record.
The vast majority of the poor who came to NYC did prosper. Some chose to stay, some left. Why do you insist on your particular version of the American dream? Not everyone wants suburbia or whatever it is you are chasing. They have the right to choose where they want to live, for their own reasons. Why is THAT so hard for you to understand?
If I sound like a broken record, why do you argue with me?
"The vast majority of the poor who came to NYC did prosper."
In the 1970's South Bronx, you were statistically more likely to get killed, die from asthma or a drug overdose, then from natural causes.
A lot of this is still pretty much the same. It also extended towards all low income sections of the city.
Most people DON'T make it. Less people get killed, but more people get locked up, same old people dieing from asthma, heart diesese, same old addicts overdosing, same old kids dropping out, same old girls get pregnaunt at a young age.
Most become stuck in a cycle of poverty or barely keep their heads above water. This is the sad reality. Remember over 50% of the youth in the South Bronx live in poverty, that means no, most don't prosper.
Whatever way you want to live is fine. However again, I refuse to recommend ****hole neighborhoods. I will recommend Bay Ridge, the Upper East Side, Riverdale, even Cambria Heights, but I will NOT recommend an area like the South Bronx.
Whatever way you want to live is fine. However again, I refuse to recommend ****hole neighborhoods. I will recommend Bay Ridge, the Upper East Side, Riverdale, even Cambria Heights, but I will NOT recommend an area like the South Bronx.
LOL, in the market there are 4 ratings usually applied to stocks by analyst:
Strong Buy, Buy, Hold and Sell
Realistically the SouthBronx is a Buy, last night I was in the Tremont section near Jerome Avenue 1985 Morris Ave I looked in the window of this Limestone it was magnificent original detail from the late 1800's pocket doors, crown moldings on the ceilings yada yada. The owners I found out online, paid 342k for over 3,300 sq ft of living space. That same Brownstone on 145 and St (Drug Infested) Nick in Harlem would go for over 1.9 Million on space alone if it was an abandoned shell. This is because wise people know change is imminent and it is Manhattan.
The Brownstone purchased on Morris in 2004 for 342K will now sell for above 600K. Bottom line Hustla if you are one at least fiscally , you have to see the financial wisdom in owning a piece of the pie. Renting (albeit some peoples only choice) is FOR SQUARES, SUCKERS your helping someone else become rich.
Riverdale the commute sucks, BayRidge the commute sucks and has low income (white/black/asian) individuals and Cambria Heights commute sux and has low income people. Upper East side lmao c'mon you have a million dollar home on like 101st and Park Ave right next to the PJ's they get to see their fair share of crackheads do they still exist or dope fiends more common now lol.
Regarding the violence in the South Bronx look at the police blotters most of it happens after 12am and it's the usual suspects most average working folks aren't out at that time (barring 3rd shift workers) thus your average joe isn't a victim of crime. That's backed up by empirical evidence I'm sure Hustla might have been privy to...
Social ills teenage pregnancy, drug use, crime affect all economic echelons and areas
Bottom line, when you have reputable real estate companies like Corcoran Group, Halstead Properties and Prudential Douglas Elliman brokering properties in the South Bronx and Bedstuy all you have to do is the math or as we say in the Hood Maf .
So for all not in the know NOW YA KNOW get crackin on buying a co-op or condo in the BX. Because it will allow you to finally start building equity meaning if you buy for 75k after 10 years you sell for 200k you have after paying off mortage about 100k cash to put towards a home purchase while you should also be saving.
Now with good credit and that downpayment your ahead of the game. Most people can pay a mortgage but don't have the 10-20% downpayment and while you're renting your burning cash look into HDFC co-ops that have income requirements meaning you can't make more than X not you have to make X+Y.
LOL, in the market there are 4 ratings usually applied to stocks by analyst:
Strong Buy, Buy, Hold and Sell
Realistically the SouthBronx is a Buy, last night I was in the Tremont section near Jerome Avenue 1985 Morris Ave I looked in the window of this Limestone it was magnificent original detail from the late 1800's pocket doors, crown moldings on the ceilings yada yada. The owners I found out online, paid 342k for over 3,300 sq ft of living space. That same Brownstone on 145 and St (Drug Infested) Nick in Harlem would go for over 1.9 Million on space alone if it was an abandoned shell. This is because wise people know change is imminent and it is Manhattan.
However, you do realize that block, 1900 Morris Ave is in a poor drug and gang infested neighborhood. An area that is not going to change anytime soon, considering only low income housing is being built. That neighborhood also has few brownstones. Most of the housing is in the form of tenements.
Quote:
Originally Posted by GottaHaveVision
The Brownstone purchased on Morris in 2004 for 342K will now sell for above 600K. Bottom line Hustla if you are one at least fiscally , you have to see the financial wisdom in owning a piece of the pie. Renting (albeit some peoples only choice) is FOR SQUARES, SUCKERS your helping someone else become rich.
That was 2004, it's almost 2008 and it cost is $600,000 for something compareable. That is expensive. Unaffordable to the local population. The window of opportunity is over. It's not cheap now.
I do agree buying is a better deal though. However, few people would want to live in that area that did not have to.
Quote:
Originally Posted by GottaHaveVision
Riverdale the commute sucks, BayRidge the commute sucks and has low income (white/black/asian) individuals and Cambria Heights commute sux and has low income people.
You say Riverdale's commute sucks, yet the quality of life is significantly higher in that neighborhood then 1900 Morris Ave. A trade off most would take. At least in Riverdale you can take the bus to the El on Broadway. You say Bay Ridge and Cambria Heights have low income people, um, the South Bronx ain't rich?
Why sign up, it's pretty obvious what neighborhoods have high crime rates and what racial group dominates a particular area. If you want to be precise you can use the census (or one of many maps provided online).
Quote:
Originally Posted by GottaHaveVision
Bottom line, when you have reputable real estate companies like Corcoran Group, Halstead Properties and Prudential Douglas Elliman brokering properties in the South Bronx and Bedstuy all you have to do is the math or as we say in the Hood Maf .
So for all not in the know NOW YA KNOW get crackin on buying a co-op or condo in the BX. Because it will allow you to finally start building equity meaning if you buy for 75k after 10 years you sell for 200k you have after paying off mortage about 100k cash to put towards a home purchase while you should also be saving.
Now with good credit and that downpayment your ahead of the game. Most people can pay a mortgage but don't have the 10-20% downpayment and while you're renting your burning cash look into HDFC co-ops that have income requirements meaning you can't make more than X not you have to make X+Y.
Ciao
Now the question is, who wants to live in those neighborhoods minus the desperate? House flipping is good for the pocket though and seems to be a popular trend in the Bronx.
So I do understand where you are coming from with investment. Even though the prices are very high now. However to live, no way. That was my point in this thread.
Unbelieveable. Hustla, if you really had others' welfare in mind, you might really take a good look at what others are saying about buying here. Even if you don't want to live here forever, the benefits are huge. The folks I bought this place from are now ensconced in the burbs. They waited to have children (which they plan to now) untiil they had the means to afford it and to live where they chose. In other words, they delayed gratification and did things in the most logical order, and now they have what they want due to their equity. I freely bought from them, as I have a right to. No one forced me to sign on the dotted line.
For fifty years, Hustla, I've lived here in NYC. I've seen plenty of crime. Do I think I lived in a nice white yuppie bubble all my life?
What's the problem if I'm trying to live among mostly decent people in an area I'm comfortable with? It's like you're reinforcing every fear and prejudice that's already rampant in this city. There's a lot of racism here. I'm doing my best to practice what I preach. Why is that somehow wrong in your book? Why do you steer people to white enclaves like some real estate broker trying to further redline an already segregated city? Haven't we had enough of that?
The difference is that as you say the Bronx will likely never be an all-white, all-rich enclave (though never say never). That's one of the reasons i LIKE IT HERE. People in this area are not all trash to be stomped on and displaced. I've been through the real estate thing for real, and I do talk from experience. Have you ever owned property, ever lived in a middle income coop where people's maintenance doesn't go to some landlord but is put back in the building to keep it well maintained? Ever benefited and profited personally from the "rip off" real estate climate in NYC? I care about others, but I WOULD be a fool if I didn't do what is best for me.
Quality of life? This is the best quality of life I could hope to have in this city at this point in my life. Why do you invalidate other people's honest preferences and individual choices? This is the quality of MY life, no one else's to dictate or presume.
Buying in the Bronx is a likely a smart thing to do, for those who can handle it financially and are ok with the neighborhood. You live here, why can't they?
Do you own the borough? Are you the mayor or the borough president? Why do you presume to know what's best for everyone else?
Your attitude and "helpful advice" are reinforcing and confirming the racism and elitism that is rampant in this city and on this board. Whites, stay away....just as you can move whereever you choose and can afford, so can I. How would you feel if I told you not to move to an area that was mostly white because you weren't welcome there and just didn't belong? You'd be insulted and infuriated, and rightly so.
However, you do realize that block, 1900 Morris Ave is in a poor drug and gang infested neighborhood. An area that is not going to change anytime soon, considering only low income housing is being built. That neighborhood also has few brownstones. Most of the housing is in the form of tenements.
Yup, it is drug infested and gang infested I'm sure, but the biggest factor is actually rent stablization laws. See all that changes when the people can't keep that 600-800 dollar rent for a three bedroom. Now most landlords are recognizing the change and putting clauses in the leases that allow for immediate eviction due to illegal behavior. Fortunately the idiots are helping these cases right along families being evicted because a child got arrested for selling or possession and now the rent goes up 20%. A lot of these landlords have gone so far as to install recording video devices to aid in evictions and illegal overcrowding it's getting gangsta on both sides of the fence.
Check out this article from 2006:
The Real Deal - Small investors trek to South Bronx, set records (http://www.therealdeal.net/issues/SEPTEMBER_2006/1157061777.php - broken link)
The Real Deal - A market-rate future for the Bronx? (http://www.therealdeal.net/issues/OCTOBER_2005/1128197984.php - broken link)
Some honest thoughts from professional realtors:
The Real Deal - Q & A: Bronx still on the rise? (http://www.therealdeal.net/issues/APRIL_2007/1175121466.php - broken link)
From the 82-86 I used to go to highschool in the Fort Greene section of BK Brooklyn Tech. Poor azzz people along with the crack epidemic. By the time I graduated that area was going through a similar South Bronx evolution. Now those homes in the Fort Greene section are worth millions and they are right across from the PJ's and the Metro Tech aka DownTown BK and L.I.U area. The quality of life has turned yeah I agree you have to take a Wild Wild West Pioneer attitude and buyers have some serious decisions to make regarding do they want their families in that environment before it changes.
However, just like in Harlem the rewards for the Pioneers can be magnificent should they circle the wagons together. BedStuy and South Bronx are drawing more and more 6 figure income earners for the value as the article and many others note. Thus those wagons will circle in the form of residents on community boards and reaching out to the local precints for more action and patrolmen/women.
You know once a lot of pressure is placed on the District Commanders by the community activists and they involve their council persons THINGS HAPPEN. But the average South Bronx resident doesn't have the energy as he/she is just trying to make it....
However, new and current residents will make a difference you don't pay 600k for a home and expect people on your stoop and yelling and screaming all night. Already I know new residents that have gotten homes vacated because of illegal use meaning converting to just renting rooms. Forcing the old owners to sell due to the fines levied.
But no rose colored glasses here it is a risk I'm willing to take, this is a far cry from my old hood Forest Hills.
GottaHaveVision..you da man! Most people don't have the vision, which is why they work their 9-5s, rent their personal and professional lives away, and simply criticize and complain about anything and everything...but never have the guts to take any action themselves. I believe they are called "haters" No matter what happens, the positive changes, the investment, the price appreciation, the new businesses, the new parks, whatever, it is always bad/not good enough.....not only do they lack vision, they lack business savvy and basic common sense.
I am glad you have the vision...not many do. Don't let the naysayers dissuade you..all those people who were scared off by the naysaying 7 years ago are kicking themselves in the butt for not investing in areas that Hustla terms "the ghetto." The world will change around people like Hustla, but they will just find other things to complain about and criticize....
From the 82-86 I used to go to highschool in the Fort Greene section of BK Brooklyn Tech. Poor azzz people along with the crack epidemic. By the time I graduated that area was going through a similar South Bronx evolution. Now those homes in the Fort Greene section are worth millions and they are right across from the PJ's and the Metro Tech aka DownTown BK and L.I.U area. The quality of life has turned yeah I agree you have to take a Wild Wild West Pioneer attitude and buyers have some serious decisions to make regarding do they want their families in that environment before it changes.
Folks moving from Forest Hills to the South Bronx. Folks moving from Park Slope to Parkchester. Are we crazy??????????
Sorry to bring this up, by the way, but I've read that Tech, once considered "The 'darkest' of the Big Three", is now down to 10% Black! many others saw the public educational vision, and, while wanting send their kids to private, made them "take the Tech test, anyway!" (I advise EVERY parent to have their child do this!). And guess what happened in the course of 20 years........??????
By the way, I have plenty of college classmates who are Tech alum!
"Where there is no vision, the people perish."
--Proverbs 29:18
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Won't Recommend
, you have to see the financial wisdom in owning a piece of the pie. Renting (albeit some peoples only choice) is FOR SQUARES, SUCKERS your helping someone else become rich.
