Since 1940, “white flight” has affected the city’s demographics, not to mention its real estate market; every year, the population of white, non-Hispanic residents in the inner city decreased. That is, until the turn of this century. The NY Times reports that since 2000, 100,000 non-Hispanic whites have returned to the city, and half of that increase occurred between 2006 and 2007. Experts call the shift a “harbinger of racial equilibrium” and a testament to “diversity and ethnic heterogeneity.” For some, of course, such shifts signal an undertone of gentrification; it’s not always good news. And some of those folks returning from the ‘burbs work in the financial industry, lured by family-friendly, high-end projects that are sometimes seen as gated communities within the city; no one’s sure if they’ll stay as the economy sours. Still, the census findings reveal a strong city — stronger, in fact than some of the suburbs. The percentage of folks paying more than 30% of income on rent/mortgage dropped in NYC; it rose in the suburbs.
White Flight Has Reversed, Census Finds [NY Times]
Photo by thunderhoof
Netting is up and demo has started at 10 MetroTech, aka 623 and 625 Fulton Street, according to a tipster, who sent in this photo. A demo permit was issued in November. As we noted in June, the Forest City Ratner-owned building will be torn down and replaced by apartments. No new building permit has […]
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