Is all of Bushwick really that bad? (apartment, business)

[Wild Style]

Originally Posted by baylovers

Hustla, I think your statement is dead on...

I couple of years ago I while I was working on Lincoln Place near Franklin Ave I had an old timer black guy tell me, "F*ckin' white folk come movin' in the neighborhood and messing everything up." I could believe what I was hearing on many levels... the reverse racism for one & the fact that one of the worst streets in the 77 Pct was being effected by white people approaching from the western edges of Grand Army Plaza. Go figure.

To put it into perspective. Whites come in, and the rent starts going up. When I go home to visit I hear that a lot lol.

[baylovers]

There is no such thing as 'reverse' racism. Racism is racism.

Roseba, you are correct but it has been drilled in our consciousness by the media that most racism in NY is allegedly perpetrated by Caucasians that I automatically referred to it as "reverse".

[lira68]

I'm reading through the threads and notice peeps suggesting to buy now. I drove around the Bushwick area a few times and thought it was a very nice community and definitely see some potential. Williamsburg used to be just warehouses and now, the condos in that area have skyrocketed and are only slightly lower than Manhattan prices. B/c of the improvements made on the L-Train, it will take communitors less time to arrive in Manhattan and also, since the rent is cheaper for larger places is another reason that entices ppl to move to Brooklyn areas.

If you buy in Bushwick now, isn't anyone concerned with the current housing market? NYC hasn't felt too much of the housing slumps, but will eventually feel it slightly depending on how long it last. Considering this, would you say to buy anyway? why?

[Wild Style]

Originally Posted by lira68

I'm reading through the threads and notice peeps suggesting to buy now. I drove around the Bushwick area a few times and thought it was a very nice community and definitely see some potential. Williamsburg used to be just warehouses and now, the condos in that area have skyrocketed and are only slightly lower than Manhattan prices. B/c of the improvements made on the L-Train, it will take communitors less time to arrive in Manhattan and also, since the rent is cheaper for larger places is another reason that entices ppl to move to Brooklyn areas.

If you buy in Bushwick now, isn't anyone concerned with the current housing market? NYC hasn't felt too much of the housing slumps, but will eventually feel it slightly depending on how long it last. Considering this, would you say to buy anyway? why?

just do research. Go look on NYT they have TONS of articles on how people are being foreclosed on. How fore closures are climbing each month. With banks not willing to lend money as readily as before, credit card debt and defaults climbing just wait it out man.

JUst do research though and see what that tells you to do.

[Henna]

Originally Posted by Wild Style

just do research. Go look on NYT they have TONS of articles on how people are being foreclosed on. How fore closures are climbing each month. With banks not willing to lend money as readily as before, credit card debt and defaults climbing just wait it out man.

JUst do research though and see what that tells you to do.

I thought that 80% of NY's owned housing units were coops - or maybe this is an old figure before the recent condo boom. I wouldn't think there would be very many foreclosures in coops since they require 20% down and usually more stringent financial requirements than any mortgage lender!

[lira68]

Originally Posted by Henna

I thought that 80% of NY's owned housing units were coops - or maybe this is an old figure before the recent condo boom. I wouldn't think there would be very many foreclosures in coops since they require 20% down and usually more stringent financial requirements than any mortgage lender!

It is 80% coopin Manhattan and you are right about 20% condo, but does that apply to Brooklyn areas? What's really appealing with Bushwick is that there is a tax break in property tax, which is a great selling point! I'm just concerned with the market..that's all. Any insight?

[steller]

My mom was born in bushwick when there were alot of italians in the 1950s and my dad was born in brownsville when there were some irish there.Brooklyn changed dramacticly during the 1960 and 70s due to white flight and newcommers moving in.Today it is under going the same thing not as bif but now you have black flight and have more haspanics moveing in and a increase in white population.This trend is also seen in Washinton Dc where the blacks are fleeing and whites are buying up the abandoned buildings and moveing in.

[LynAnn]

My daughter purchased a Brownstone in Bushwick almost 3 years ago. Wonderful street and wonderful older black and cuban families that have lived there for years. Street is very nice and quite clean. My daughter is white, college degree and works in Manhattan. The brownstone was in bad condition and had to be renovated. I've met the entire block of families and I love everyone of them. They love my daughter as much as she loves them. After reading all these articles about how bad Bushwick is, scares me just a little, but She could not be happier and would hate to move and leave these wonderful people. I have no idea if this is a bad area or not but she loves the friends she has made there.

[cf77]

I havnt read the whole thread yet but from what i've read , how do the areas in Jersey that arnt far from NYC compair to all the boros? Really the only boro im familiar with is the Bronx and alittle Brooklyn. Im not trying to start a whos area is harder type thing but how does Newark, parts of Jersey City, Paterson, Irvington compair to the boros as far as crime and problems go. Im curious about this any input would help. I bring this up because since alot of people are being priced out of areas close to manhatten are coming over to Jersey , and I was curious to if thats really a better idea rather than staying in NYC.

[DITC]

Originally Posted by LynAnn

My daughter purchased a Brownstone in Bushwick almost 3 years ago. Wonderful street and wonderful older black and cuban families that have lived there for years. Street is very nice and quite clean. My daughter is white, college degree and works in Manhattan. The brownstone was in bad condition and had to be renovated. I've met the entire block of families and I love everyone of them. They love my daughter as much as she loves them. After reading all these articles about how bad Bushwick is, scares me just a little, but She could not be happier and would hate to move and leave these wonderful people. I have no idea if this is a bad area or not but she loves the friends she has made there.

Good story. I respect this. Sounds like your daughter is one of the few who is willing to assimilate to the area and enjoy the natives as opposed to buying up property as an urban pioneer whose sole objective is to turn the area into another East Des Moines. She showed