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Old 09-28-2014, 10:01 PM
 
25,556 posts, read 23,811,540 times
Reputation: 10119

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Quote:
Originally Posted by BlakeJones View Post
the place is still the hood - the most ghetto renters are going to be priced out within a few years, but the projects (and there are many) aren't going anyyyyyyyyyyywhere. These new home owners are sitting ducks
The housing projects might not be the same. For starters their rents are going up, and in two years sequestration means another 10 to 11% cut in funds NYCHA gets from the federal government. The city may replace people on programs in the housing projects with people who are working class. Particularly in hot areas.

I feel that a lot of people here are living in the past. It's not that easy to get welfare these days. This isn't the 80s.
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Old 09-28-2014, 10:19 PM
 
Location: Riverdale, NY
300 posts, read 373,077 times
Reputation: 163
Quote:
Originally Posted by NyWriterdude View Post
The housing projects might not be the same. For starters their rents are going up, and in two years sequestration means another 10 to 11% cut in funds NYCHA gets from the federal government. The city may replace people on programs in the housing projects with people who are working class. Particularly in hot areas.

I feel that a lot of people here are living in the past. It's not that easy to get welfare these days. This isn't the 80s.
With de Blasio in office anything is possible.
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Old 09-28-2014, 10:35 PM
 
1,423 posts, read 2,535,118 times
Reputation: 806
People know how to manipuate the system. Welfare is here to stay and so are Projects!
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Old 09-29-2014, 05:29 AM
 
Location: Between the Bays
10,786 posts, read 11,245,410 times
Reputation: 5272
Did it sell for asking already?
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Old 09-29-2014, 11:02 AM
 
25,556 posts, read 23,811,540 times
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Originally Posted by G-Dale View Post
Did it sell for asking already?
Bedford Stuyvesant | Residential Sales | Brooklyn Townhouse

Two deals earlier this year in Bedstuy closed for 2.25 million. Both properties were purchased for $770,000 or so.

Many of these brownstones have backyards.

"As prices rise in Brooklyn, brokers in Bedford-Stuyvesant have been breaking sales records left and right since March. In a sign of how hot the neighborhood’s become, nine of Bed-Stuy’s top 15 residential sales in the past five years are from 2014, according to data from Property Shark. Meanwhile, the median sales price during the second quarter rose to $630,000, up from $425,000 in the second quarter of 2013. In June of this year, the median asking price was even higher, according to StreetEasy data: $895,000, a 50.4 percent increase from June 2013. - See more at: http://therealdeal.com/blog/2014/08/05/bed-stuys-1-5m-plus-club/#sthash.s5qGvEeP.dpuf"

I think the neighborhood will be really nice in about 10 years or so. The investors are pushing out the Section 8 crowd, so the neighborhood is in transition.
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Old 09-29-2014, 11:20 AM
 
Location: Bronx, New York
4,436 posts, read 7,638,097 times
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Originally Posted by ShadowMassa View Post
New York City
The Year 2035
Population 3,485,420
That's one of my predictions about Brooklyn....it's going to be too doggone crowded!
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Old 09-29-2014, 11:35 AM
 
Location: Riverdale, NY
300 posts, read 373,077 times
Reputation: 163
Quote:
Originally Posted by NyWriterdude View Post
I think the neighborhood will be really nice in about 10 years or so. The investors are pushing out the Section 8 crowd, so the neighborhood is in transition.
Are they still taking Section 8 these days, and if so where?
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Old 09-29-2014, 12:51 PM
 
Location: New York City
19,061 posts, read 12,602,857 times
Reputation: 14781
Quote:
Originally Posted by NyWriterdude View Post
The investors are pushing out the Section 8 crowd, so the neighborhood is in transition.
Like I said, the people in the projects aren't going anywhere, they are rent-protected. Hopefully as businesses move in there's more jobs for these people and they raise their standard of living so that the problem kids aren't problem kids anymore 10 years from now
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Old 09-29-2014, 01:06 PM
 
2,691 posts, read 4,311,370 times
Reputation: 2311
Quote:
Originally Posted by DoomDan515 View Post
Agreed. I would much rather buy a brownstone in Park Slope. At least that area is safe.

Edit: ment to quote hhp3333 first post.
You can't buy a brownstone in Park Slope for that price, that's the point. It's a point that no mater how hard some people try to reiterate, the naysayers will still babble on about how retched and horrible Bed Stuy is, how it's so ghetto, etc. The naysayers will continue to whine while the "gentrifiers" will continue to buy and in 15 years you'll have a whole lot of whiners with their feet in their mouths.

I urge anyone curious about the hype (both the naysayers and proponents) to check out the Brownstone tour on Oct 18th. It's fantastic. You not only get a sense of the neighborhood and different parts but you get to see INSIDE these brownstones. Maybe then you'll understand why people line up for open houses and why a well appointed or nicely renovated brownstone asks and gets over $2 mil.
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Old 09-29-2014, 01:44 PM
 
Location: Riverdale, NY
300 posts, read 373,077 times
Reputation: 163
Quote:
Originally Posted by BlakeJones View Post
Like I said, the people in the projects aren't going anywhere, they are rent-protected. Hopefully as businesses move in there's more jobs for these people and they raise their standard of living so that the problem kids aren't problem kids anymore 10 years from now
That may change though. The city needs massive funding to rehab tons of housing projects, and who knows where that money will come from. It would be great if they pulled a Chicago and tore all of them down, and gave folks one way bus tickets to cheaper areas, this way they could live somewhere that they actually could afford without depending on the "gubment" (aka handouts), and the city could use that money for more important issues. A win win for everyone.
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