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Old 12-13-2016, 11:01 AM
 
Location: Bronx
14,795 posts, read 17,410,399 times
Reputation: 7510

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I'm in Vegas right now. Plenty of folks I came across here romanticzed about old NYC. According to them, the New, New York City completely sucks. I agree with them. Overall gentrification in NYC has its pors and cons. First off. Only a select few people can benefit from gentrification in NYC. One if you own a business or service, and can adjust your business to the changing market, that business can benefit. Two if you own property in areas close to Manhattan or near Manhattan. One will be able to benefit from increased real estate appreciation. Three having a college degree. Having a college degree in NYC will assest in finding better employment in fields that require a 4 year degree. Mind you, majority of native New Yorkers don't have a college degree, don't own a business or own property.
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Old 12-13-2016, 12:20 PM
 
1,721 posts, read 705,339 times
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Its made neighborhoods better, however the negative effects have already taken place.

People can't afford to buy in the neighborhoods they grew up in, more people are renting which increases demand for housing. Rents are astronomical because of that. Basically the real estate and development industry is winning right now, while too many are struggling just to afford to live.
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Old 12-13-2016, 12:33 PM
 
Location: New York NY
4,133 posts, read 5,945,094 times
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You can bat around the pros and cons of gentrification forever, but to me it all boils down to this: If you're a renter (resident or small business), gentrification can be painful. But if you're a property owner (commercial or residential) you can make out like a bandit.
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Old 12-13-2016, 12:37 PM
 
Location: NYC by week; ATL by weekend
971 posts, read 1,465,947 times
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Quote:
Originally Posted by daaver View Post
The answer to that question depends on whether you are a high income earner living in Manhattan (or other expensive area) looking to get more for your money, or you are an average income earner that has been living in a neighborhood for a long time and is slowly getting priced out. Great for one, sucks for the other. There is a balancing act involved.
I tend to agree with this post for the most part except for the balancing act....the true nature of Gentrification that is being employed is not to ensure nor create balance in our space/time continuum...
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Old 12-13-2016, 12:40 PM
 
11 posts, read 4,951 times
Reputation: 25
Do we REALLY need another gentrification thread? OP could've just summoned an oldie.

Yes gentrification is good, it prices out all the ghetto people that don't deserve to live in this great global city. I'm glad all the thugs get pushed far out in the south to subpar places like Houston and Atlanta. Pre-gentrified Manhattan and Brooklyn was undesireable to live in, and now the yuppies clean these places up one neighborhood at a time. I rather live among "hipsters" and educated young professionals such as myself than to be constantly dodging bullets and chronically mental homeless bums.
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Old 12-13-2016, 12:47 PM
 
Location: NYC
11,824 posts, read 7,699,774 times
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NYC is now a highend dorm for the rich around the world, corporate bankers and their employees.
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Old 12-13-2016, 12:59 PM
 
Location: Pittsburgh, not Paris. #MAGA.
9,693 posts, read 5,278,608 times
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Quote:
Originally Posted by vision33r View Post
NYC is now a highend dorm for the rich around the world, corporate bankers and their employees.
And, yet, medium household income of NYC residents is around $50,000: https://project.wnyc.org/median-income-nabes/
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Old 12-13-2016, 01:33 PM
 
23,253 posts, read 16,063,944 times
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Quote:
Originally Posted by prospectheightsresident View Post
And, yet, medium household income of NYC residents is around $50,000: https://project.wnyc.org/median-income-nabes/
Keep in mind Manhattan has a big student, intern, medical resident, adjunct, etc population. A lot of people come here to start their professional paths and then leave when their program is up. They get replaced by the new people coming in.
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Old 12-13-2016, 01:39 PM
 
Location: Pittsburgh, not Paris. #MAGA.
9,693 posts, read 5,278,608 times
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Quote:
Originally Posted by NyWriterdude View Post
Keep in mind Manhattan has a big student, intern, medical resident, adjunct, etc population. A lot of people come here to start their professional paths and then leave when their program is up. They get replaced by the new people coming in.
Very true. Of course, NYC is also home to a more permanent class of working class/poor residents as well.
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Old 12-13-2016, 02:10 PM
 
23,253 posts, read 16,063,944 times
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Quote:
Originally Posted by prospectheightsresident View Post
Very true. Of course, NYC is also home to a more permanent class of working class/poor residents as well.
That is also very true. Even Manhattan below 96th street has large swaths of government housing (Lower East Side, Chelsea, parts of the Upper West Side and even Yorkville in the 90s).
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