U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New York > New York City
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 06-01-2015, 10:48 AM
 
Location: West Harlem
6,886 posts, read 7,839,277 times
Reputation: 3000

Advertisements

Quote:
Originally Posted by Kefir King View Post
Is it really gentrification or just rent inflation?

Definitely rent inflation, carried by a kind of "emperor's new clothes" - good point.
Reply With Quote Quick reply to this message

 
Old 06-01-2015, 10:55 AM
 
Location: USA
8,016 posts, read 9,079,405 times
Reputation: 3383
NYC is about to be all gentrified soon, and that's how they want it too. You know what that means and how that will eventually look. Hopefully, you won't get sick of each other and all that sky-high rent, because the government won't be helping you pay it after you get your way.
Reply With Quote Quick reply to this message
 
Old 06-01-2015, 11:48 AM
 
Location: Bronx, NY
94 posts, read 163,195 times
Reputation: 43
Quote:
Originally Posted by NYer23 View Post
I would be curious to know what type of people are buying this houses and did they finance the deal or was it all in cash?
In recent years, many buyers are coming in all cash. Just recently before I went into contract on my home, I scheduled appointments with my realtor for 4 properties, only to be told they had to be cancelled because they were getting snapped up by all-cash buyers. Most homes are going for asking or over asking in some cases.

See article below for numbers of all-cash deals in 2014 in Manhattan.

Manhattan Home Sales Are NOT 80% All-Cash (They Are 45%) – Miller Samuel Real Estate Appraisers & Consultants
Reply With Quote Quick reply to this message
 
Old 06-01-2015, 02:06 PM
 
Location: Ridgewood, NY
3,039 posts, read 5,739,031 times
Reputation: 1566
Quote:
Originally Posted by 11KAP View Post
NYC is about to be all gentrified soon, and that's how they want it too. You know what that means and how that will eventually look. Hopefully, you won't get sick of each other and all that sky-high rent, because the government won't be helping you pay it after you get your way.
The 2010 Census showed that NYC was 33.3% White, 28.6% Hispanic*** (this number was probably higher due to unreported undocumented immigrants, 22.8% Black and 12.6% Asian. The white population went from 35% of the overall pop. in 2000 to 33.3% and the Black population went from 24.6% in 2000 to 22.8% in 2010.

http://www.nyc.gov/html/dcp/pdf/cens...2010/pgrhc.pdf (page 14)

Yes, things are getting expensive. Yes, certain neighborhoods are losing working class black and Hispanic folk, and I'll agree with you it does suck... But to think that the city will eventually lose it's diversity is ridiculous... Also, Blacks and Hispanics aren't the only ones getting displaced out of neighborhoods... People in areas like Bay Ridge, Bensonhurst, Sheepshead Bay, Brighton Beach, Marine Park, Kensington, etc. are just as terrified of getting "discovered" as any other area in the city. Furthermore, there's too many PJ's, rent stabilized housing, low income housing that was built and continues to be built over the last 10 years and affordable housing programs that range from 50/50 to 80/20 that'll prevent NYC from completely losing it's working/lower middle class renters. Reading online, you'd think there were only five native New Yorkers left in the city... Reality, the city is still overwhelmingly the same and the hype is exactly what it is, just hype...
Reply With Quote Quick reply to this message
 
Old 06-01-2015, 02:26 PM
 
Location: USA
8,016 posts, read 9,079,405 times
Reputation: 3383
^ It will stay like it is on the outskirts of the city for the most part yes, while the inner city is totally transformed for the rich and successful. So basically, you are turning poorer areas into rich areas overnight. If you own a home or land in any of these "good" neighborhoods, you better keep it or sell it for at least a million or two.


Don't you hate those "We buy houses" signs plastered on street poles in the hood?

Who cares? Sometimes I buy candy.
Reply With Quote Quick reply to this message
 
Old 06-01-2015, 03:07 PM
 
Location: Bronx, NY
94 posts, read 163,195 times
Reputation: 43
Quote:
Originally Posted by anon1 View Post
The 2010 Census showed that NYC was 33.3% White, 28.6% Hispanic*** (this number was probably higher due to unreported undocumented immigrants, 22.8% Black and 12.6% Asian. The white population went from 35% of the overall pop. in 2000 to 33.3% and the Black population went from 24.6% in 2000 to 22.8% in 2010.

http://www.nyc.gov/html/dcp/pdf/cens...2010/pgrhc.pdf (page 14)

Yes, things are getting expensive. Yes, certain neighborhoods are losing working class black and Hispanic folk, and I'll agree with you it does suck... But to think that the city will eventually lose it's diversity is ridiculous... Also, Blacks and Hispanics aren't the only ones getting displaced out of neighborhoods... People in areas like Bay Ridge, Bensonhurst, Sheepshead Bay, Brighton Beach, Marine Park, Kensington, etc. are just as terrified of getting "discovered" as any other area in the city. Furthermore, there's too many PJ's, rent stabilized housing, low income housing that was built and continues to be built over the last 10 years and affordable housing programs that range from 50/50 to 80/20 that'll prevent NYC from completely losing it's working/lower middle class renters. Reading online, you'd think there were only five native New Yorkers left in the city... Reality, the city is still overwhelmingly the same and the hype is exactly what it is, just hype...
I think what some people often forget to mention too is that it's not always poor people getting displaced by the rich. There are good hard-working class people, Latino and Black who are going to college, getting advanced degrees and getting better paying jobs who also move out of these hoods for other neighborhoods. That also contributes to the change in demographic.

And we can't knock the investors for wanting to do what they do for a living, make a profit. Afterall, if you could get in on a penny stock and knew it was going to hit it big, who wouldn't put their money into it? Well, they know the neighborhoods are depressed in certain areas and if they can swing it, and market conditions are prime for the taking, they're gonna buy you out and build baby build. This is NYC the epicenter of opportunity.

It's time for a change from the norm. I'm exhausted with hearing people talk $#!+ about the Bronx like its the 1970's. I welcome the change and hope there is a renaissance of sorts that wont displace people. Change provides opportunity for all. Hopefully it makes people who would rather rely on gov't support want to do something better in their lives rather than relying on the next check. There is not enough that can be said about hard working people. Granted there are some out there who are born with a silver spoon in their hand, but you can't apply that label to all people who have money. Some people are self-made entrepreneurs. To knock those who are trying to build on that would be un-American. We are a capitalist country, free enterprise has helped build this country into what it is and has given each of us the opportunity to make it big.

Afterall, do we want to teach people reliance on government assistance or financial independence and home ownership.
Reply With Quote Quick reply to this message
 
Old 06-01-2015, 04:13 PM
 
9,991 posts, read 7,716,817 times
Reputation: 4702
Quote:
Originally Posted by Kefir King View Post
Is it really gentrification or just rent inflation?
Inflation, and not just rent inflation.
Reply With Quote Quick reply to this message
 
Old 06-01-2015, 04:26 PM
 
9,971 posts, read 8,467,024 times
Reputation: 5851
Rent inflation = the same renters in the same crappy, run down, unrenovated buildings, paying more.

Gentrification = New, more affluent residents (either renters or buyers) in newly built and/or renovated buildings, paying much more.

Quote:
Originally Posted by Kefir King View Post
Is it really gentrification or just rent inflation?
Reply With Quote Quick reply to this message
 
Old 06-01-2015, 04:29 PM
 
Location: USA
8,016 posts, read 9,079,405 times
Reputation: 3383
Quote:
Originally Posted by bx1968 View Post
free enterprise has helped build this country into what it is and has given each of us the opportunity to make it big.
Don't forget that stealing people's land is what America was built on too, right along with lots of genocide and free labor. How can the most affected people by that really ever get ahead of that? Think about it. I guess you can keep trying but don't be naive.
Reply With Quote Quick reply to this message
 
Old 06-01-2015, 04:39 PM
 
Location: Bronx
14,885 posts, read 17,450,256 times
Reputation: 7539
Quote:
Originally Posted by bx1968 View Post
I think what some people often forget to mention too is that it's not always poor people getting displaced by the rich. There are good hard-working class people, Latino and Black who are going to college, getting advanced degrees and getting better paying jobs who also move out of these hoods for other neighborhoods. That also contributes to the change in demographic.

And we can't knock the investors for wanting to do what they do for a living, make a profit. Afterall, if you could get in on a penny stock and knew it was going to hit it big, who wouldn't put their money into it? Well, they know the neighborhoods are depressed in certain areas and if they can swing it, and market conditions are prime for the taking, they're gonna buy you out and build baby build. This is NYC the epicenter of opportunity.

It's time for a change from the norm. I'm exhausted with hearing people talk $#!+ about the Bronx like its the 1970's. I welcome the change and hope there is a renaissance of sorts that wont displace people. Change provides opportunity for all. Hopefully it makes people who would rather rely on gov't support want to do something better in their lives rather than relying on the next check. There is not enough that can be said about hard working people. Granted there are some out there who are born with a silver spoon in their hand, but you can't apply that label to all people who have money. Some people are self-made entrepreneurs. To knock those who are trying to build on that would be un-American. We are a capitalist country, free enterprise has helped build this country into what it is and has given each of us the opportunity to make it big.

Afterall, do we want to teach people reliance on government assistance or financial independence and home ownership.
This is very true and Bronx borough President Diaz junior noted that the Bronx can not keep its educated population. Most educated Bronx residents move out of city if not out of state. He is trying to find away for Bronx residents with college degrees to stay instead of moving. Right now I'm writing this post from the comfort of an hotel in Arizona. As formNYC being an city of opportunity? For whom? obviously those with money or those who care highly educated like ivy leaguers. Unless if some one has a really good connection than all things are possible.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New York > New York City
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top