My NYC Black Folk......Gentrification

[Scholar]

wouldn't this have a perverse incentive where colleges will just look to buy more buildings to house their students

Colleges like Columbia are already doing this sadly. That's a massive issue as well though.

The majority of them don't understand economics, don't care, or are beholden to different special interests. I've spoken to quiet a few and taken public questions from them at the City Hall.

Even the younger progressive guys they put on a pedestal are frankly scumbags.

I do agree. A good amount of them truly don't and sadly just seek press attention

 

[mson]

New tool illustrates NYC’s growing affordability crisis

 

[88m3]

Colleges like Columbia are already doing this sadly. That's a massive issue as well though.

I do agree. A good amount of them truly don't and sadly just seek press attention

NYU expansion is valid gripe not that anyone can really afford to live around there anyways...

idk about Columbia, that's like bytching about the Gowanus rezoning

 

[ogc163]

 

[88m3]

smh

 

[AB Ziggy]

The results of this tourism are already showing up unfortunately .

I'm already seeing quite a few white faces the past year on Burnside. Especially once that new apartment on Walton Ave opens up.

 

[hashmander]

a man with a $100 rent because of rent control laws is saying he wish there were more laws to protect tenants like him. you got offered $800k for something you don't own. that prized rent control status may have made you feel like you owned that apartment, but it wasn't so.

 

[ZoeGod]

White people are something else.

 

[BigMan]

NYC a dub
don't think i will ever go live there

 

[mson]

 

[Mr Uncle Leroy]

Gentrify your suburbs

 

[Pazzy]

Gentrify your suburbs

Funny thing is thats happening too.

 

[315]

 

[AB Ziggy]

Coney Island’s landmarked Shore Theater will become a hotel

 

[ZoeGod]

Manhattan Home Inventory Surges, But Buyers Aren't Interested

Also a website called StreetEasy has some info on May 2018 on the decline of housing sales and increase of inventory in Brooklyn,Manhattan and Queens.

May 2018 Key Findings — Manhattan

• Sale prices rose in all submarkets but one. The StreetEasy Manhattan Price Index increased 0.6 percent to $1,157,995. Prices rose in four of the five submarkets, led by an increase in the Upper East Side, where the median home price rose 1.9 percent to $1,038,046. Prices in Downtown Manhattan remained flat at $1,691,204.
  
  
• Inventory rose at a record pace. Sales inventory in Manhattan rose 16.7 percent year-over-year. The Upper East Side experienced the largest increase, with inventory up 20.2 percent since last year.
  
  
• One out of every six homes received a discount. Sixteen percent of homes for sale were discounted, an increase of 3.6 percentage points year-over-year.
  
  
• For-sale homes spent less time on the market. Units in the borough spent a median of 55 days on the market, a three-day dip from last year. The Upper East Side and Upper West Side were the only submarkets where homes lingered longer — up 10 days and 17 days, respectively.
  
  
• Rents rose in every Manhattan submarket. The StreetEasy Manhattan Rent Index [iv] rose 1.4 percent to $3,183. Rents in Upper Manhattan rose the most — up 2.5 percent to $2,307.
  
  
• Fewer rentals offered a discount. Sixteen percent of rentals in Manhattan were discounted in May, a decrease of 1.6 percentage points from last year.
  

May 2018 Key Findings — Brooklyn

• Prices reached new highs in North Brooklyn. The StreetEasy North Brooklyn Price Index increased 11.1 percent to $1,229,838, a record high for the submarket despite the looming L train shutdown. Borough-wide, prices rose by just 1.1. percent since last year, to $720,555.
  
  
• The number of homes with a price cut reached an all-time high. The share of sales with a price cut reached an all-time high of 12.4 percent, a rise of 3.3 percentage points from May 2017.
  
  
• Sales inventory continued to climb, except in North Brooklyn. Sales inventory in the borough reached a record high — up 23.4 percent over last year. Inventory rose the most in South Brooklyn, which saw a 44.7 percent increase over last year. North Brooklyn was the only submarket where inventory dropped, by 6.7 percent since last year.
  
  
• Brooklyn homes spent more time on the market. Homes stayed on the market for a median of 53 days in the borough, 6 more days than last year. North Brooklyn homes are coming off the market after an average of 43 days — 26 days faster than last year.
  
  
• Rents rose in all submarkets except North Brooklyn. The StreetEasy Brooklyn Rent Index increased 1.4 percent year-over-year to $2,562. South Brooklyn experienced the largest spike: up 2.6 percent to a median rent of $1,885. North Brooklyn was the only submarket where rents stagnated, likely because of the L train shutdown starting in April 2019. Rents in the submarket remained flat at $3,062.
  

May 2018 Key Findings — Queens

• Price cuts rose to an all-time high. The share of homes with a price cut reached a new high in Queens at 11.1 percent, an increase of 3.5 percentage points over last year.
  
  
• Sales inventory swelled. Queens saw the largest year-over-year increase in inventory, rising 42.8 percent. All five submarkets in the borough saw a surge in inventory.
  
  
• Queens homes are selling slightly faster than last year. The median number of days on market for Queens homes was 56, down 2 days from last year. Homes in Northeast Queens and Northwest Queens took longer to sell than last year, with an increase of 12 days and 6 days on the market, respectively.
  
  
• Rents remained flat. The StreetEasy Queens Rent Index held at $2,113. But rents in South Queens rose 6.9 percent year-over-year, to a median of $1,775.
  
  
• Queens was the only borough with an increase in the share of discounted rentals. Seventeen percent of Queens rentals offered discounts: up 2.9 percentage points over last year, and the highest share of the three boroughs analyzed.