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Yeah, I don't really see it stopping anytime soon. It may or may not happen in ENY, but I say this, don't be surprised. I saw this years ago when I examined the speed, aggressiveness and number in which this is occurring. When I first spotted new-comers in Utica station and Chauncey station some years back, I knew it was a rap.
People have been warning of an end to Gentrification for years and it's only picked up year after year. I can't imagine at this point what would derail it besides a full-fledged economic meltdown. I think it mostly boils down to the fact that NYC has jobs and glamor and doesn't require a car, so the kids flock here. Shows like "Girls" have only served to amplify that. It's like they graduate college and the next step is moving to a big city where there is opportunity. I think this tidal wave of gentrification will only continue to grow until it's apparent that there's better opportunities for new graduates elsewhere.
Gentrification is nothing new and has been around for many years. Paris for example has been expericing gentrification and Bohemianism since the late 19th century. NYC has been experiencing gentrification since the 1960s during the height of the white flight when young college career grads starting buying up property in the East Village for cheap along with the cities growing art scene. I think its not a tidal wave but a contractions and detraction. THe next generation of American youths will have a very different opinion taste and style to urbanism compared to todays millennials. I don't know the future, but I can only assume that gentrification will not grow. I do believe it will grow if the US economy will remain lackluster. Same could be said for Europe with French, Spanish, Greek, Italian, Portuguese and Irish economies still in decline and free fall. I see plenty of Europeans of Mediterranean region living here in this city. If the economies so scale do improve along with improvement of inequality gentrification will slow down, people would be able to afford homes, cars and other material goods.
The "not-well to do" will just continue to have no choice but to stack up on each other in ever increasingly smaller living dwellings with many becoming further dependent on government assistance to get by. Homeownership will be a thing of the past for a large percentage of young people as they and they're children will only have the option of living under/with their parents along with a uncle, cousin, etc...with everyone pitching in to come up with that monthly nut. That's why Gloomberg was pushing those micro unit apartments as the future of city living hardcore because they well know whats up
Last edited by Dennis Brown; 10-01-2014 at 12:58 PM..
This is very true. Gentrification is a symbol of inequality that not only reflects in NYC but other major cities across the country, most notably poor working class black, Hispanic and white neighborhoods. US government and local municipalities shot themselves in the food 50 years ago with the suburbs movement and disinvestment in cities which helped create the income inequality in cities that we see today. Hell it was even funny that people hoped gentrification would slow down during the economic downturn, hell it sped up full throttle. I hope the overall U.S economy can improve so that people can improve their own communities and slow down gentrification, also suburbs need to become more economically and socially stable so that young suburbanites after college can go back home work live and play instead of moving to big cities like NY doing the same thing but at a higher cost.
There are reasons why this does not and will not happen.
Ask any relatives you know from Guyana what places in metro NYC they can name. I bet they can just name New York City proper. Perhaps they know the names of the boroughs.
Nobody really knows or cares much about places like LI or Westchester unless they are from the region. If you're a tourist you want to come to the real NY-New York City. NYC has Columbia, some divisions of Cornell, NYU, Yeshiva, Fordham, CUNY, etc. All Long Island has is Hostrafa, LIU, and a SUNY. NYC attracts for more students than LI or Westchester ever will.
Ditto for other major metro areas. Everyone knows Los Angeles but who really knows or cares about San Bernadino County. The urban core has become the best place in many ways to do BUSINESS.
So not just wealthy people but upper middle class are willing to pay premiums to live to be comparatively close to work or school.
Nationally as inner cities become wealthy suburbs are becoming poorer. The US is becoming like Europe and Brazil where the wealthy live in the big city and the hood/poor people live on the outskirts.
Nationally as inner cities become wealthy suburbs are becoming poorer. The US is becoming like Europe and Brazil where the wealthy live in the big city and the hood/poor people live on the outskirts.
Don't forget that in the 19th and early 20th century this is how the world used to be. The wealthy people lived in the city and the not so wealthy lived further away. The suburbs only really become viable after the invention of the car. Now we have had the car for a long time, and long commutes by car suck. Also for some of us, the convenience and comfort afforded by the burbs is not worth the sacrifice of culture, lifestyle, jobs, and opportunity.
History changes and sometimes follows a pattern of repeating itself. People are moving to the big world class cities all over the world now. Its likely we could see a urban wealthy global trend in the future, if its not already upon us now.
Nationally as inner cities become wealthy suburbs are becoming poorer. The US is becoming like Europe and Brazil where the wealthy live in the big city and the hood/poor people live on the outskirts.
I see more and more section 8 popping up in Columbia MD, an affluent suburb of Maryland. Its been happening slowly for a very long time. Some parts of the town have really gone down hill. I own a house there and I am eager to get rid of it after my tenants move out. I don't believe it has any long term potential as a good investment. The area can only stay the same or decline. Its most certainly not going to grow or improve.
If you have dollars for real estate, better put them in the city, not the burbs.
I know many people who have, and are, transferring their Section 8 vouchers to suburban communities across the country. They are moving to single family and multifamily homes, and these suburban communities are becoming inundated. I am not surprised that it is also happening in Columbia, MD. Seems like nfew communities are immune anymore.
Don't forget that in the 19th and early 20th century this is how the world used to be. The wealthy people lived in the city and the not so wealthy lived further away. The suburbs only really become viable after the invention of the car. Now we have had the car for a long time, and long commutes by car suck. Also for some of us, the convenience and comfort afforded by the burbs is not worth the sacrifice of culture, lifestyle, jobs, and opportunity.
History changes and sometimes follows a pattern of repeating itself. People are moving to the big world class cities all over the world now. Its likely we could see a urban wealthy global trend in the future, if its not already upon us now.
So the US will have it's own version of ghetto 'banlieues' outside of city limits ? Just like Paris for example, all the bad and terrible ghettos are outside of city limits in a few suburbs composing of low income housing, ect.
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