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By that guideline it took Williamsburg 20 years to gentrify as well. Williamsburg became the cool place for artists, students, hipsters, gays, and others in the 1990s, but to become the expensive high end neighborhood that it is now didn't fully take place a few years after the 2008 collapse. Now nearly all of Williamsburg's old warehouse and factory assets have been converted or in the process of being converted Domino Sugar factory.
So if you use the Village and Williamsburg as an example, the timeline you and SeventhFloor are using is more or less correct. Bedstuy started gentrifying in the 2000s, so given the 20 year timeline, it will be less than 20 years (not giving an exact number of years as many upcoming factors can speed or slow things down).
I don't think their were any hipsters in the 90s, the subculture that I remember were known as grunge who were very edgy. I cant say all of Willimasburg has gentrified. South Wiliamsburg is still very hood especially with Puerto Rican flags hanging down from the rafters and shoes strung over lamp posts. I haven't been to Williamsburg in a while. I know when taking the L train from Union square most of the riders are young white twenty something's and not from the NYC area or region. I think Bedstuy is just receiving spillover from gentrifying Fort Green. But then again I could be wrong and you can be right. I don't know what the future holds. But I can say gentrification can not go on forever, trends changes, fads change, demands change, subculture changes and etc. I don't know what the future holds, but its safe to say that gentrification train has stopped in Bedstuy but has yet to pull to the next stop. I havea feeling that in next ten years the back to the city movement wont be as popular compared to now!
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Originally Posted by Above Average Bear
I do have a dog in the fight however, don't you think that the pace of gentrification is speeding up as less and less neighborhhoods are left to gentrify?
Hmmm I cant say that. Hell some even hope for gentrification to reach Ocean Hill Brownsville but in order for that to happen all of Bedstuy needs to be fully gentrified which can take decade or more. But what I did notice is that gentrification sped up during the recession and down economy that we are currently in. Properties are selling at an all time high along with sky high rents. Lets not forget that for many native New Yorkers their wages are either low or have stagnated and can not keep up with costs of rent, property taxes, and other expenses compared to more highly educated, room sharing, and career driven transient types. If the economy picks up and wages pick up I feel that gentrification might slow down along with higher interest rates. but then again I can be wrong. I think if the national economy was better gentrification would not be much of a problem because folks can afford to pay their property taxes and rents, also in other parts of the country labor markets would be better instead forcing young people to go back home for jobs instead of moving to a big city right after college looking for work.
Brooklyn real estate is already reaching its fever pitch, if it hasnt already. Many are suggesting the feds to raise the interest rates.We all know that does to real estate market.
Rents will stagnate or go lower.
With the welfare cuts recently enacted, many residents of these nabes are even more in need. This is unfortunate, many will have to resort to "by any means" to get some $. This will affect the crime rates.
I like how gentification affects crime rates and brings in good food places ....but other than that I find williamsburg a perfect example of how gentrifction can go wrong.
Yea, money was made (and still is ) but williamsburg is pretty monotone and wack.
bedstuy the other day and its still hood for the most part. I saw like 5 white people but its funny how the hipsters dont mingle with locals ..LOL. They usually seemed to be nervously and swiftly getting to thr nearest train station.
Its only a matter of time before the bubble goes pop
Drove through there today down Gates Avenue from Nostrand to Bushwick (work related). Let me tell you, nothing has changed in twenty years. The neighborhood is still a dump. Maybe less dangerous, but still a dump. Whoever gets steered there by a RE agent for an apartment, you are getting ripped off.
Drove through there today down Gates Avenue from Nostrand to Bushwick (work related). Let me tell you, nothing has changed in twenty years. The neighborhood is still a dump. Maybe less dangerous, but still a dump. Whoever gets steered there by a RE agent for an apartment, you are getting ripped off.
Clearly lol. Let me pull up stories to show what we already know: the area has a higher crime rate.
It's all well and good though. It's not stoping people from moving to, buying property in and increasing property values...
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