Why gentrification is lame. (New York, York: foreclosures, loans, houses)

[djhives]

Originally Posted by 11KAP

gentrification is like getting a new home but you can not afford to live in it.

Exactly...

who wants a million dollar row-home that was only $10,000 8 years ago. Million dollar DEBT anyone? Lifetime of slavery livin in the hood? Marooned on planet Hood? LOL!

GREED gets 'em every time. The NEW thing now is yuppies/gentrifiers complaining that THEY CANT SELL their houses...LOL! Funny how when the 'value' of the house turns to nothing they suddenly have an epiphany: "OMG! WE LIVE IN THE GHETTO!"

[geoking66]

Originally Posted by otters21

That is the truth in a nut shell but you forgot to include a very important factor to why gentrification will never go away- the skyrocketing cost of gas. It is rumored in that not too distant future a gallon of gasoline will go to five bucks or higher. I believe if that happens for a long stretch with without any relief people are going to unload that McMansion ( especially when the kids are past school age) and the SUV and high tail it back to the city or at least the inner ring burbs where mass transit is a viable alternative. Gentrification will even get stronger if that happens and not just for the transplant yuppie and hipster but for the middle class native NYers who left the city in the last 5 or 6 decades particularly those who's children left the nest
( schools will no longer be an issue for them).

And it will. However, it's not really gentrification as it is a return to the way our cities used to be: dense with a wide range and mix of incomes. Eventually, the number of urban neighborhoods considered desirable will stretch to the point that wealth will even out and the disparities that are the result of too few areas to invest will lessen.

Remember in 2008 when public transit use surged and demand was sky high for new construction in cities? Yeah, it'll happen again, and this time it might be even more pronounced.

[Bronxguyanese]

Originally Posted by djhives

1) Gentrification HAS stopped - its called 'the housing BUBBLE' yuppies & transplants (gentrifiers) are UPSIDE-DOWN on their MORTGAGES (debt!) and CANNOT sell in order to get away. They are essentially "STUCK" in the hood! As the booms days fade into 'cant sell my underwater house' days - the gentrifiers begin to 'suddenly' notice their section-8 neighboors and horrible school-districts.


2) People in ghettos are not 'displaced' by gentrification. When gentrification began during the housing bubble, we (natives) all took note to how the TRASH in the ghetto was being replace by the TRASH of suburbia. It was irony. Every time I see yuppies in a gentrified ghetto I say 'why in the HELL would you want to live here!?' -- and again now that the bubbles burst and their house is worthless they begin to see their folly of moving to the ghetto..which no matter what anyone says never actually 'changed' -- the hood is the hood.

3) It makes NO SENSE to call yourself 'economically wealthy' and LIVE IN THE GHETTO next to 'low income' people at the same time! LOL! I am wealthy, I DO NOT live in the gentrified ghetto! Why? Becasue it SUCKS! I dont want to live next to section-8, the methadone clinic, and the 'diverse' school district. You cant be in the ghetto and call yoruself 'well off' at the same time! Its like saying you are a billionare living in North Philly. People LIVE where they belong. Im from Philly , born and raised, and wouldnt EVER live in these sh*t-hole sectoons these yuppies live in! It cracks me up to see yuppies in a rowhome accross the street from section-8 trash yelling in the street all day and all night! Oh yeah! Thats the high life! lol!

4) Again, if you actually made 6 figures (and got to KEEP most of it) you WOULD NOT live in any of these neighborhoods. Wealthy people live AWAY from others - privacy, space, QUIET. NOT packed in the hood in rowhomes calling them 'townhouses' LOL!


GENTRIFICATION: THE 8TH WONDER OF WHITE-PEOPLE WORLD - YouTube

Your statement holds truth to alot of wieght. I know some Transplants who are in debt from attending colleges and advance degrees of all sorts. Now a I figure these Transplants have to bunk up with roomates in order to pay back thier education bills. I knew one Transplant chick her mom and dad paid 2500 dollar a months rent for her daugthers tiny one bedroom apartment. A couple of months later her parents could not afford to pay rent for her daughters Manhattan apartment since they are also paying mortgage for thier Maryland Mcmansion. They forced her daughter to get a roomate to help pay most of the rent. One Transplant chick I know was astonished that I have a college degree and how I'm not in debt and able to invest in a mutual fund. I said simple I live at home with moms until the economic situation improves and I paid my college tuition while I worked at the sametime and pell paid the the other half. Many Transplants come from societies and enviornments that have been dealing with the housing bubble. Many transplants I know have no intentions whats so ever of not going back to whitetrash America suburbia and boonies, I wonder if thier minds will change when they pop out kids in NYC and cant afford child care or dont have a near by relative or parent to watch thier kid while they work and party. Many Transplants I met dont understand how come New Yorkers can move to the suburbs in other states and buy Mcmansions with three car garages. I simply tell them that those New Yorkers are escaping poverty and the high cost of living.

As for the housing bubble in NYC? It has held steady but same cant be said for areas of NYC like NE Bronx and SE Queens which has been hit hard by the houosing bubble, but than again why single parent minority women buying homes in the first places with subprime mortagages? Wheres the husband or the babies daddy to help pay mortgage?

[djhives]

Originally Posted by Bronxguyanese

Your statement holds truth to alot of wieght. I know some Transplants who are in debt from attending colleges and advance degrees of all sorts. Now a I figure these Transplants have to bunk up with roomates in order to pay back thier education bills. I knew one Transplant chick her mom and dad paid 2500 dollar a months rent for her daugthers tiny one bedroom apartment. A couple of months later her parents could not afford to pay rent for her daughters Manhattan apartment since they are also paying mortgage for thier Maryland Mcmansion. They forced her daughter to get a roomate to help pay most of the rent. One Transplant chick I know was astonished that I have a college degree and how I'm not in debt and able to invest in a mutual fund. I said simple I live at home with moms until the economic situation improves and I paid my college tuition while I worked at the sametime and pell paid the the other half. Many Transplants come from societies and enviornments that have been dealing with the housing bubble. Many transplants I know have no intentions whats so ever of not going back to whitetrash America suburbia and boonies, I wonder if thier minds will change when they pop out kids in NYC and cant afford child care or dont have a near by relative or parent to watch thier kid while they work and party. Many Transplants I met dont understand how come New Yorkers can move to the suburbs in other states and buy Mcmansions with three car garages. I simply tell them that those New Yorkers are escaping poverty and the high cost of living.

As for the housing bubble in NYC? It has held steady but same cant be said for areas of NYC like NE Bronx and SE Queens which has been hit hard by the houosing bubble, but than again why single parent minority women buying homes in the first places with subprime mortagages? Wheres the husband or the babies daddy to help pay mortgage?

Absolutley! I agree with everything you are saying -- for one you must understand that this whole hipster-gentrification-transplant-yuppie phenomena that happened to EVERY major city in the USA is NOT some accident or fate of circumstance - but rather a DIRECT RESULT of the 2003ish-2008 housing BOOM/BUBBLE

1) money was lent
2) people 'invested' in housing
3) parents who 'refinanced' during the boom in-turn had enough to 'fund' their childrens 'urban adventures' and HIPSTERS were born

4) Yuppies and trasnplants with new CREDIT money came looking to 'invest' in a 'sure bet': HOUSING. Looking to get rich quick....

5) gentrification


BUT.........

6) the bubble BURST

7) transplantation came to a relative halt (ie, face it theres no REAL mega-developments happening anymore... just the 'death-spasm' projects pathetically hanging on to a lost hope (aka a reviaval of the housing 'market'..which WONT ever happen anytime soon...)

8) trasnplants are now IN TROUBLE -- they OWE more than their OVERPRICED bubble-house is worth

9) So to fix it they try to SELL

10) But theres no credit, so nobody can afford to buy


11) Transplants are now STUCK!

The SAME 'musical chairs' ballet happens during every ecomnomic bubble-- the money (credit) stops being lent by the banks and BOOMSHAKALAKA - you're TRAPPED.

Here in philly, as in NYC you will find blocks with n00b bubbletards who 'bought' their houses for $750,000 DIRECTLY ACROSS from pre-bubble residents who got thiers for $10K-$50K...long paid for.


The AMAZING thing about gentrifcation and the bubble was how life-long residents of these cities KNEW what these houses were actually worth (not much) -- but during the boom these REDICULOUS signs "prices in the hood starting from $800,000 Hurry wont last long" --- I mean all we did was LAUGH at this sh*t and say 'who the f*ck is going to come in and buy THIS for THAT MUCH!?'..... transplants would... and now......

..and now... the dark joke turns upon them. They are stuck in ABSURD mortgages due to greed. You should SEE the ANGST on some of these yuppies faces as the natives come out of their houses completely paid for which only cost $30k -- while THEIR houses are underwater for $750,000!!! LOL!

In the djhives/NEMESIS gentrifcation video you can clearly see 1 story econo cube houses and McRowhomes built accross for them for $750k... and the cubes sold for $10K 8 years prior....



But like you said, MARK MY WORDS: YOU WILL WITNESS SERIOUS CHANGES IN YUPPIE/TRANPLANT BEHAVIOR as mommy and daddy cant affor to pay juniors NYC rent anymore! AND as the yuppe realizes 'his' house was his WORST investment of his lifetime....

change is a happenin' RIGHT NOW!

[djhives]

...this is also why its disney-land now

[hilltopjay]

Originally Posted by djhives

...this is also why its disney-land now

Well I'd take disney land over the form ghetto land any day. NYC is a better place now because of gentrification. Embrace it!

[djhives]

Originally Posted by hilltopjay

Well I'd take disney land over the form ghetto land any day. NYC is a better place now because of gentrification. Embrace it!

NYC is NOT a better place becasue of gentrification - rather, gentrification has made NYC a CARICATURE of its former self. A sad cartoon version. A white washed hollywood set. The paper mâché lobby of Caesars at Atlantic City. Fake.

Thankfully the worst is over and the gentrifiers will be RUNNING from their mortgages soon and either become normal new yokers due to the realness of their situation, OR run back to the suburbia from whence they cameth.

It's not about ghetto, its about real VS fake. People gentrified cities due to the HOUSING BUBBLE - greed - and nothing more. This is why they are unwelcomed, seen as phony, and have their PRETENTIOUS 'lifestyle' frowned upon. Back in 2005 every yuppie pretended they were rich - double dog walking and posing outsides at 'tapas resturants' and double-dog walking ("look at me I gotz not one, buttt two dawgs mommy!") and BRAGGING about their 'home equity'..)

Well -- look at them now.

1) Complaining how they cant SELL and are UNDERWATER
2) Complaining about their scool district and Section-8 neighbors
3) Complaining about how they are trapped
4) Sold dog #2
5) Not DARE mentioning the words 'housing' and 'market' in the same breath

6) Sad clown-faced Picasso at the cafe staring bleakly into space ("what hath Ive done mah lawd!")

7) Starting to get CYNICAL -- hey may be theres hope yet!

My theory: If they stay long enough (trapped in their DEBT-boxes) they will turn into real cynical city-dwellers and become interesting.


Again gentrification-hatred is not about ghettos or riches or black or white -- its about douche-bags runing the culture of the land with their FAKENESS. Nobody likes fakeness.

[nykiddo718718]

Djhives,

Gentrification has not stopped. For one the demand remains for housing in NYC. Also those most effected by the housing bust were low and lower-middle income earners.

Displacement happens, see the Lower East Side and Hell's Kitchen for example. You see it slowly progress in Harlem, LIC, Williamsburg today. Even Midtown once had lots of SRO's and cheap rentals.

As for why would some choose neighborhoods like Harlem over Midtown? Bigger space for less, certain characteristics. Most of all though cheaper. Wealthy don't stay wealthy very long if they blow all their money. The neighborhoods will change with an influx of money. Also some neighborhoods are unaffordable unless you recieve some sort of subsidy.

Gentrification has enhanced this city for the better. Next time you visit Harlem or the South Bronx you can think gentrification for all the new construction. Those are not all low income people living in those new buildings.

[DoomDan515]

Originally Posted by djhives

NYC is NOT a better place becasue of gentrification - rather, gentrification has made NYC a CARICATURE of its former self. A sad cartoon version. A white washed hollywood set. The paper mâché lobby of Caesars at Atlantic City. Fake.

Thankfully the worst is over and the gentrifiers will be RUNNING from their mortgages soon and either become normal new yokers due to the realness of their situation, OR run back to the suburbia from whence they cameth.

You do realize that if gentrification suddenly reversed itself the whole city will quickly turn into one giant crime ridden ghetto trash dump right? It'll be a much bigger version of Detroit.

[SUPERCHIC]

i like when a area is gentrified. bring up the value, better class of people and shops move in. Better the lving in a run down slum with vacant stores