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The negative stigma that still remains in the Bronx is the reason why I'm seriously looking at it and believe it may be undervalued in dollar terms. Real estate markets in the big cities are generally very efficient. Widely held negative stereotypes based on ignorance are good sources of arbitrage. If and when that stereotype is defeated, things will begin to change.
The Bronx is generally a poor area, but I wouldn't call it a major problem today for New York City. This is not the 1970's.
There are some sections that were always working and middle classed. Their home values aren't particularly cheap either, though cheaper than other, hotter parts of the city. If home values are undervalued, it's because these neighborhoods are often ringed by poorer neighborhoods. Thank urban planners for dumping all of the pjs, industrial, and asphalt on the Bronx's back. Stigma never made an iota of difference to me because I was born and raised in the Bronx, have family in the Bx, and I had no desire to invest anywhere else. I will agree that I didn't do badly with my investment...stigma and all.
Quote:
Originally Posted by Mistertee
Exactly! It's the number one reason why I chose to invest in Bronx RE. It's very undervalued for NYC. Buy low, sell high. Just be selective on key areas where growth is likely to occur such as Kingsbridge, Pelham, Woodlawn, Bedford Park and Riverdale.
The days of truly buying low and selling high are kinda gone. I truly bought low in the late 90s and sold relatively high. Probably would've sold higher if I held onto the place longer. Don't think that will happen again as home values in the better neighborhoods will never be $100-150k, though I do think that it would be wise to invest in neighborhoods that have held their values over time.
As for Cruz, it figures this windbag represents my state. Though I wouldn't call Texas a nobody state. That's the problem -- there are so many people moving here each day it's scary! I want it to be like the way it was ten years ago.
I just read that whites are moving into the GHETTO OF ALL GHETTOS = Compton, California.
I drove through Compton ONE TIME and that place looked worse than the Bronx ever did in their "bad old days". There was metal bars everywhere, filth, just an ugly, dirty, dingy place. No way could you have told me the area would ever gentrify. I guess East LA and Watts are next.
The Bronx is slowly on the come up. <<Never thought I'd say these words.
Aja Brown, Compton's new mayor, is a young, educated woman with extensive background in urban planning and marketing. She took a very different approach from old school Black leaders. Through the media she brought a lot of attention to Compton.
Aja Brown, Compton's new mayor, is a young, educated woman with extensive background in urban planning and marketing. She took a very different approach from old school Black leaders. Through the media she brought a lot of attention to Compton.
I mean, technically it IS a "good" thing, but we all know what happens when low income people get displaced.
For Compton though, I wonder where they would send them? I know for the rest of LA, all low income folks seem to be getting dumped in the city of Lancaster. Section 8 homes are available all over.
I mean, technically it IS a "good" thing, but we all know what happens when low income people get displaced.
For Compton though, I wonder where they would send them? I know for the rest of LA, all low income folks seem to be getting dumped in the city of Lancaster. Section 8 homes are available all over.
Maybe send them to the Inland Empire, further out towards the desert. I've read about the poverty in those communities, and the low wage workers they use for working in distribution centers.
Only by the standards of those who need to constantly use race as a weapon to make up for their personal shortcomings. To everyone else, Ted Cruz is a proud Cuban-American:
Who happens to be white but that is besides the point. Ted Cruz is wrong for his dumb statements about the Bronx. Why not spend some time in the Bronx to see the revitalization that is taking place in the Borough, or why not google the transformation of the Bronx? He won't do it because that would mean he was speaking out of his ass during that speech. His only claim to fame was his 21 hour long fillibuster that accomplished NOTHING! Made more of an ass of himself then and continues to do so now with his ignorance about a borough he knows nothing about.
Who happens to be white but that is besides the point. Ted Cruz is wrong for his dumb statements about the Bronx. Why not spend some time in the Bronx to see the revitalization that is taking place in the Borough, or why not google the transformation of the Bronx? He won't do it because that would mean he was speaking out of his ass during that speech. His only claim to fame was his 21 hour long fillibuster that accomplished NOTHING! Made more of an ass of himself then and continues to do so now with his ignorance about a borough he knows nothing about.
It was clearly a joke. I don't understand why some people can't move on.
There are some sections that were always working and middle classed. Their home values aren't particularly cheap either, though cheaper than other, hotter parts of the city. If home values are undervalued, it's because these neighborhoods are often ringed by poorer neighborhoods. Thank urban planners for dumping all of the pjs, industrial, and asphalt on the Bronx's back. Stigma never made an iota of difference to me because I was born and raised in the Bronx, have family in the Bx, and I had no desire to invest anywhere else. I will agree that I didn't do badly with my investment...stigma and all.
The days of truly buying low and selling high are kinda gone. I truly bought low in the late 90s and sold relatively high. Probably would've sold higher if I held onto the place longer. Don't think that will happen again as home values in the better neighborhoods will never be $100-150k, though I do think that it would be wise to invest in neighborhoods that have held their values over time.
As for Cruz, it figures this windbag represents my state. Though I wouldn't call Texas a nobody state. That's the problem -- there are so many people moving here each day it's scary! I want it to be like the way it was ten years ago.
$100-150K, for single family homes..no way....but I can find Co-ops for $125K
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