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You can't attribute the value rises for ENY to hype, it's only now possibly/hypothetically going to gentrify, who were all the people who moved in before? there's hasn't been empty lots and abandoned houses in years are you going to tell me the working class families that bought the new/rehabbed homes came for the hype? Of course i'm a cheerleader my family stuck it out since the "bad" days so I've seen my neighborhood come a long way, I like my neighbors and this isn't the same neighborhood you left all those years ago.
Claim hype all you want but the economic realities can not be denied, NYC is a very desirable city to live in nowadays and as we see more job growth there will be more demand for neighborhoods near transit. At the rate that downtown Brooklyn & lower Manhattan are growing as jobs hubs of course ENY will become more desirable, it's like a 15-20 minute commute. With the way rents and property value is skyrocketing it's logical you would see profit at the current prices, you can still get a 2 family house for about 450K, each apartment now commands a rent of $1400-1800 a month per unit, within a few years & especially if the rezoning goes through you'll be seeing those rents increase along with the property value. If the houses ever do hit the $1mil range by then most of the current residents will have been priced out/displaced, shops, restaurants and other amenities will have opened up and we will be talking about the possibility of Richmond Hill gentrifying. Professionals (especially families) who make a decent income but can't Bed-Stuy or Crown Heights will naturally look at the next train stop/neighborhood over which is ENY, sure some of the "Brooklyn Brand Hype" will come into play but the economics still affect it.
You need to add a little perspective to those crime stats, ENY crime rates only seem high when compared to the other now VERY low crime areas of NYC. If you were around in the 90's you would now the 106th precinct which covers Ozone Park and Howard Beach were always stable middle class neighborhoods, yet back then when it was a mostly Italian neighborhood they had a homicide rate of 21 in 1993 http://www.nyc.gov/html/nypd/downloa...-us-106pct.pdf, thats with a white/middle class/lower population neighborhood, ENY now has a lower homicide rate than that and it has more than twice the population. In 1993 ENY saw 120+ homicides since then the neighborhood has come a long way so give us some credit. No one is saying it's perfect but it is far from the craphole warzone you claim it is.
You are the same type of person that i've heard time and time again since I was young, it used to be no one is moving to the craphole Bowery, then the LES, Williamsburg, Harlem, Fort Greene, Clinton Hill, Boerum hill, Bed-Stuy, Crown Heights, LIC, Astoria, Bushwick the list goes on and on.
Do you live in CH now? If so, do you feel it's changing already? I bought some organic groceries on futon, this was not available a year ago.
You can't attribute the value rises for ENY to hype, it's only now possibly/hypothetically going to gentrify, who were all the people who moved in before? there's hasn't been empty lots and abandoned houses in years are you going to tell me the working class families that bought the new/rehabbed homes came for the hype? Of course i'm a cheerleader my family stuck it out since the "bad" days so I've seen my neighborhood come a long way, I like my neighbors and this isn't the same neighborhood you left all those years ago.
Claim hype all you want but the economic realities can not be denied, NYC is a very desirable city to live in nowadays and as we see more job growth there will be more demand for neighborhoods near transit. At the rate that downtown Brooklyn & lower Manhattan are growing as jobs hubs of course ENY will become more desirable, it's like a 15-20 minute commute. With the way rents and property value is skyrocketing it's logical you would see profit at the current prices, you can still get a 2 family house for about 450K, each apartment now commands a rent of $1400-1800 a month per unit, within a few years & especially if the rezoning goes through you'll be seeing those rents increase along with the property value. If the houses ever do hit the $1mil range by then most of the current residents will have been priced out/displaced, shops, restaurants and other amenities will have opened up and we will be talking about the possibility of Richmond Hill gentrifying. Professionals (especially families) who make a decent income but can't Bed-Stuy or Crown Heights will naturally look at the next train stop/neighborhood over which is ENY, sure some of the "Brooklyn Brand Hype" will come into play but the economics still affect it.
You need to add a little perspective to those crime stats, ENY crime rates only seem high when compared to the other now VERY low crime areas of NYC. If you were around in the 90's you would now the 106th precinct which covers Ozone Park and Howard Beach were always stable middle class neighborhoods, yet back then when it was a mostly Italian neighborhood they had a homicide rate of 21 in 1993 http://www.nyc.gov/html/nypd/downloa...-us-106pct.pdf, thats with a white/middle class/lower population neighborhood, ENY now has a lower homicide rate than that and it has more than twice the population. In 1993 ENY saw 120+ homicides since then the neighborhood has come a long way so give us some credit. No one is saying it's perfect but it is far from the craphole warzone you claim it is.
You are the same type of person that i've heard time and time again since I was young, it used to be no one is moving to the craphole Bowery, then the LES, Williamsburg, Harlem, Fort Greene, Clinton Hill, Boerum hill, Bed-Stuy, Crown Heights, LIC, Astoria, Bushwick the list goes on and on.
I hear where you're coming from but these areas like East NY, South Ozone Park, Richmond Hill, South Brooklyn, South Jamaica/Far Rock, North Bronx have all experienced the least amount of gentrification/revitalization/etc. in their respective boroughs for the same reason, distance to the city. Now, if Downtown BK or LIC were to become new hubs for corporate jobs, then yea it's very possible that they may begin to see the changes you speak of. Until then, though, the only reason why an area like East NY given it's history of high crime would change is mainly due to Brooklyn hype. There is no other reason for it. That's not to say that the people living there and who invested in the neighborhood when it hit it's low point don't add to the neighborhood... Of course they do and they are a bigger positive to this neighborhood than any transplant/hipster/yuppy that moves in after the changes already began to take place. That said, we all know that these people do not bring the change that results in $$$ the way a typically white transplant, trustfund hipster/yuppy would... It's just the sad reality. People don't see $$$ in a former hood unless a Zack or Dakota takes a look at the area...
That's what I'm talking about. That is Brooklyn hype. And that is exactly what is over-inflating the prices in East NY. I've seen the rents myself over there. It's absolutely ridiculous. 1 bedrooms 1400-1700 2 bedrooms 1500-2000. Are you kidding me??? You can pay less in a good chunk of neighboring Glendale than you would in East NY. If that's not the Brooklyn hype machine at work I don't know what is.
Given the money to be made in this city, neighborhoods cannot undergo natural significant positive changes anymore. A block by Rochester, Buffalo or Troy Ave in Bed-stuy/Crown Heights may be the ultimate hood, which would understandably mean cheaper rents. But if one white person who is unfamiliar of the area and sees a Bed-stuy rental for $1000/month and decides to live there... rents will automatically shoot up. People continue to talk about how the real color that moves people in this city is green but the problem is, most assume that green can only be made when it's accompanied by white...
Given the money to be made in this city, neighborhoods cannot undergo natural significant positive changes anymore. A block by Rochester, Buffalo or Troy Ave in Bed-stuy/Crown Heights may be the ultimate hood, which would understandably mean cheaper rents. But if one white person who is unfamiliar of the area and sees a Bed-stuy rental for $1000/month and decides to live there... rents will automatically shoot up. People continue to talk about how the real color that moves people in this city is green but the problem is, most assume that green can only be made when it's accompanied by white...
So true. White faces = dollar signs, it's digusting.
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