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With crime going down it's a smarter move for a black person to not buy in a white neighborhood. A black person will just end up buying at a higher price and losing money when they move in and the white people move out.
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Originally Posted by hhp3333
Probably has something to do with properties appreciating better in white neighborhoods....
With crime going down it's a smarter move for a black person to not buy in a white neighborhood. A black person will just end up buying at a higher price and losing money when they move in and the white people move out.
I don't know of any neighborhoods that are currently majority white that are becoming black, so I don't know if white flight would still apply.
I don't know of any neighborhoods that are currently majority white that are becoming black, so I don't know if white flight would still apply.
White flight always applies. A few minorities move-in and white people are like "look we have diversity" but let it be more than a few...as the article states the neighborhood turns 10% black and then the whites start fleeing. So if you're black it does not pay to be the "block-buster" because if more black people come after you there goes your investment.
I like what the article states about the stock markets and minorities. Seems to me the smarter financial move is to not buy in white neighborhoods and learn how to invest. This commenter has it right:
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If I bought a house today in a racially-mixed neighborhood, it would cost less. Thus, my down payment would be less; my insurance and taxes would be less and my mortgage would be lower. That would give me more money left over to either invest for future returns (stocks, mutual funds, collectibles) or for immediate consumption (travel, restaurants, clothes, vehicles…).Do the buyers of homes in racially-mixed neighborhoods have a consumption problem? The lower carrying cost of the home provides opportunity to create wealth over time.
Of course I'm restricting my stance to NYC because most of the public school system sucks regardless of where you buy. A parent just has be creative or pay for private school.
I am honestly hoping for a small uptick - it seems all that will slow this gentrification wave down. When hipsters are moving across from the projects in Bed-Stuy, they are feeling a bit too safe. Not to 70's and 80's levels, but enough to make the apprehensive about moving in.
Your a riot man, instead of working harder, getting more education, or doing something else to be able to afford Bed Stuy. You want to take the neighborhood back to the bad old days so you can afford it. Unbelievable!
Your a riot man, instead of working harder, getting more education, or doing something else to be able to afford Bed Stuy. You want to take the neighborhood back to the bad old days so you can afford it. Unbelievable!
I can afford Bed-Stuy. I can afford my $1,100 rent, and I can afford more rent and still afford to go out/buy nice things, etc. YOU were wrong for assuming that because I am against gentrification, I lack an education or a decent job. To me its my neighbors, friendly, interesting people, many who I have built friendships with, being priced out that angers. Interesting people with actual personalities that made the neighborhood fun and unique. What's the point of me paying good money to live in Bed-Stuy if there are no black people left (one of the things that drew me here in the first place) and I am surrounded by whites who have no interest in me at all? I personally would be miserable.
I can afford Bed-Stuy. I can afford my $1,100 rent, and I can afford more rent and still afford to go out/buy nice things, etc. YOU were wrong for assuming that because I am against gentrification, I lack an education or a decent job. To me its my neighbors, friendly, interesting people, many who I have built friendships with, being priced out that angers. Interesting people with actual personalities that made the neighborhood fun and unique. What's the point of me paying good money to live in Bed-Stuy if there are no black people left (one of the things that drew me here in the first place) and I am surrounded by whites who have no interest in me at all? I personally would be miserable.
SMH, Honestly, Learn NYC history. LES was once a bastion of Jewish people. That's no longer true. Canarsie was once an Italian area. That's no longer true. Ozone Park was an Italian area that became Guyanese. What do you want people to do? Blacks do not own Bed Stuy as do Italians in Bensonhurst. The city is constantly evolving. You either have to accept that fact or move to a predominately Black area such as Oakland, Detroit or Atlanta.
It seems like all last Winter and Spring there was a relentless drumbeat in the press(especially The NY Post) and by posters on here about the massive increase in the crime rate due to de Blasio's election,along with taunts about how out of control things would really get once Summer arrived.
Well,Summer is over and we are 3/4 of the way through the year now and it looks like just the opposite is happening.
The NYPD has just reported the lowest August crime rate in at least 20 years. So far the crime rate is down for the year and it looks like we might be on track for yet another record low crime rate this year.
What happened to the predicted descent into a 1970's style armageddon ?
Personally,I am happy to see this continued downward trend in crime rates but I know some on here must be very disappointed.
The people who predicted this crimewave are from a certain age group and belief system. Those people are afraid of EVERYTHING and hate change.
No one else was taking them seriously and saw their scared rhetoric for what it was.
They're on the same level as that out of touch NYPD cop who took out the newspaper ad saying NYC is in the toilet with crime rates. The DNC didn't believe him and no one else did either.
SMH, Honestly, Learn NYC history. LES was once a bastion of Jewish people. That's no longer true. Canarsie was once an Italian area. That's no longer true. Ozone Park was an Italian area that became Guyanese. What do you want people to do? Blacks do not own Bed Stuy as do Italians in Bensonhurst. The city is constantly evolving. You either have to accept that fact or move to a predominately Black area such as Oakland, Detroit or Atlanta.
Silly goose. I do know NYC history. I am coming to grips with this fact, and realize that if more whites move in, I will probably move. Not because I can't afford it, but because I won't want to live in a sterile and depressing suburb in the middle of Brooklyn. A white girl moved into my building a few months ago, and I just feel weird knowing she is in the building. I have tried to ignore her presence in the building, but I sometime run into her when I come in sometimes, especially with the building being so small. It's sad, because I really was enjoying living here.
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