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.......I'm gonna call it: The "G" word is gonna come there, too!
.......When all neighborhoods are "G'd" up, and there's the last one standing! Y'all read that Times article on folk stretching out more, deeper into Brooklyn?
One aspect of gentrification is the historical attraction of a location. If y'all remember the movie "Goodfellas", Brownsville/East New York was a hotbed of gangster activity, now glorified in movies and on "American Justice". (Didn't Paulie Vario have his Euclid Avenue Cab Company, with Henry Hill as his boy?).
Now, don't get me wrong. Brownsville/East New York as we know, now, is still Brownsville/East New York! And it's quite possible that the East New York as we now know it goes out "with guns blazin'"! But I've studied these trends, and I'm seeing the changes in Brooklyn! Remember, Williamsburg and Bushwick were as rough as Brownsville/East New York was back in the day! And look at what happened! And transportation? Last time I checked, there were 4 train lines going through those hoods!
I'll say this: I won't be mad at, or call crazy, anyone who has a vision of long-term investment property in those neighborhoods! Having said all that I said, what are your thoughts? (I'm sure there are many!)
When I started this thread, little did I know that it would blow up to 14 pages. But let me add some things here........
1. Gentrification is more about supply and demand than "whitey taking over the hood!" Economists can correct me if I'm wrong, but when demand for housing goes up, the sellers, or landlords, take advantage of that and raise the prices or rents. So, even if poor folk priced out of Bed Stuy move to Brownsville/East New York, as has been reported, One still has demand for housing stock in that neighborhood! And it still means prices shifting upward!
2. If I would take anything back, it would be the phrase "with guns blazin'" However, it's on record, so be it! I was attempting to point out, and acknowledge, the still longstanding realities of that neighborhood, compared to others.
3. I made a statement later on about Broadway-Junction. I vehemently stand behind that one, for the reasons I stated!
When I started this thread, little did I know that it would blow up to 14 pages. But let me add some things here........
1. Gentrification is more about supply and demand than "whitey taking over the hood!" Economists can correct me if I'm wrong, but when demand for housing goes up, the sellers, or landlords, take advantage of that and raise the prices or rents. So, even if poor folk priced out of Bed Stuy move to Brownsville/East New York, as has been reported, One still has demand for housing stock in that neighborhood! And it still means prices shifting upward!
2. If I would take anything back, it would be the phrase "with guns blazin'" However, it's on record, so be it! I was attempting to point out, and acknowledge, the still longstanding realities of that neighborhood, compared to others.
3. I made a statement later on about Broadway-Junction. I vehemently stand behind that one, for the reasons I stated!
Additional welfare clients do not mean the rent will rise. It make take longer for them to get an apartment there. Rents didn't truly skyrocket in places like Williamsburg until investors put massive amounts of money into the neighborhood, turning warehouses and formerly busted up housing into luxury housing. Brownsville and ENY currently don't have that kind of investment, and may not getting it considering Brownsville have the highest concentration of public housing in the country. Btw, the waitlist to get into NYCHA is many years long. It can take as long as 10 years to get in, yet that doesn't cause the rents for public housing to go up because they are set up by the government.
Much of the private sector housing in Brownsville is full of Section 8 tenants. They'd have to be bought out before gentrification could occur.
Additional welfare clients do not mean the rent will rise. It make take longer for them to get an apartment there. Rents didn't truly skyrocket in places like Williamsburg until investors put massive amounts of money into the neighborhood, turning warehouses and formerly busted up housing into luxury housing. Brownsville and ENY currently don't have that kind of investment, and may not getting it considering Brownsville have the highest concentration of public housing in the country. Btw, the waitlist to get into NYCHA is many years long. It can take as long as 10 years to get in, yet that doesn't cause the rents for public housing to go up because they are set up by the government.
Much of the private sector housing in Brownsville is full of Section 8 tenants. They'd have to be bought out before gentrification could occur.
1. Does one really think rents will not go up because the "demanders" are poor and the money's coming from welfare or Section 8?
2. Has anyone thought that with more demand, even if poor, the rents still go up; only difference that instead of money coming from rich renters, it's coming from the Government?
3. Has anyone thought of the fact that the rules of supply and demand don't care who's demanding and where the rent money is coming from?
No. I'm in that area about 2-3 times a month kicking it with my team in Tilden Houses. Not on that particular block, but the surrounding streets are full of fake nerdy skinny jeans wearing, ironic glasses types. Ok I'm jesting
Adding more low income tenants will raise rents at the aggregate level as long as population is increased by decreasing vacancy rates simultaneously with increasing the overall total number of units.
1. Does one really think rents will not go up because the "demanders" are poor and the money's coming from welfare or Section 8?
2. Has anyone thought that with more demand, even if poor, the rents still go up; only difference that instead of money coming from rich renters, it's coming from the Government?
3. Has anyone thought of the fact that the rules of supply and demand don't care who's demanding and where the rent money is coming from?
You quite clearly know nothing about government programs. Government programs are only willing to pay a SET level for the rent. Any landlord taking money from Section 8 or HRA cannot charge more than a certain amount of money for rent.
NYCHA, the housing projects, have sent rents as well that are set by the city government. Demand has absolutely nothing to do with what the government pays.
Section 8 is a federally funded program, and federal funds to welfare are DECREASING.
So if they default on these buildings, and the banks have to take ownership, that's an utter disaster. No way the banks would invest money in these buildings. So they'd stay ****ty.
Btw, poor people do have other places to live besides Brownsville. They can even LEAVE the city.
So there is not going to be any real estate boom in Brownsville soon. I hope you weren't crazy enough to invest your money there. Or you a broker trying to pump up interest in the neighborhood? Various real estate professionals come on here claiming the worst places in the city are magically transformed.
Brownsville is pretty much unexplored territory for me. I have no reason to go there. But ive been on East New York Avenue close to Rockaway Avenue and i dont like. I hear that the worst area of Brownsville is further south close to Livonia. So.mu queztion is that would do.you say that.ENY Avenue area and Prospect Plaza area are also pretty bad? Thanks. -whitlock-
Brownsville is pretty much unexplored territory for me. I have no reason to go there. But ive been on East New York Avenue close to Rockaway Avenue and i dont like. I hear that the worst area of Brownsville is further south close to Livonia. So.mu queztion is that would do.you say that.ENY Avenue area and Prospect Plaza area are also pretty bad? Thanks. -whitlock-
North of East New York avenue is Ocean Hill which you can consider a part of Brownsville, and I know it used to be pretty bad over there, even 5 years ago.
I don't know if it has really changed much.
I was in the area during summer 2012 and it still looked rough. I think Prospect Plaza has been vacant for like 10 years now.
North of East New York avenue is Ocean Hill which you can consider a part of Brownsville, and I know it used to be pretty bad over there, even 5 years ago.
I don't know if it has really changed much.
I was in the area during summer 2012 and it still looked rough. I think Prospect Plaza has been vacant for like 10 years now.
Thanks, man. Some of 3 buildings might be demolished right now. Ffom link. That was posted bere onCD there were new shoddy crap homes erected afound it.
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