Is It Really So Bad in Bushwick?
Back in October, the NY Daily News reported that Bushwick was in major crisis, with foreclosures rising rapidly while house sales plummeted. But the BushwickBK blog begs to differ. “While 3.7% of Bushwick’s housing was in some part of the foreclosure process in 2006, and it’s likely even higher now, it’s important to keep the…
Back in October, the NY Daily News reported that Bushwick was in major crisis, with foreclosures rising rapidly while house sales plummeted. But the BushwickBK blog begs to differ. “While 3.7% of Bushwick’s housing was in some part of the foreclosure process in 2006, and it’s likely even higher now, it’s important to keep the proper perspective: the vast majority of homes in Bushwick are not in foreclosure,” they write. Still, plenty of blocks are looking bleak. One resident says half of the houses on his Woodbine Street block are boarded up or in disrepair. And that means the chances of property values rising are slim. “This street is so full of vacant houses now that people thinking about moving in might turn away when they see all these boarded up windows,” said another resident. The City is planning to buy 115 foreclosed houses from the banks, but BushwickBK advocates another strategy: “The best way to resolve the vacant home problem is to let home prices fall to a level where the average buyer will re-enter the housing market.”
Residents Sweat Bushwick’s Foreclosure ‘Crisis’ [BushwickBK]
drug infested neighborhood.
putnamdenizen–don’t leave the hood just as I am coming in!
The number of houses in Bushwick in foreclosure today is low but it will be HIGH soon, unless someone is buying these ten zillion million short sales I am seeing every day. Prices are pretty damn low now, not the published prices, which haven’t changed in a year, but the price the real estate agent blurts out as she follows you across the street and begs, begs you to make an offer, just any offer…
Putnamdenizen, that recommendation sounds very interesting. If I can be of any assistance re info in Bushwick, please let me know.
Meanwhile, still considering the move to Decatur/Broadway on the Ocean Hill side, is this madness or genius?
I for one think the wortld will be a sorrier place without the gentle manatee
I am perplexed by PitbullNYC’s comemnt about Habitat for Humanity. (But then again, and I mean this in a loving way, I am perplexed by many of his comments). Habitat does focus on renovating and building low income housing. As do many other loacl redevelopment corporations. OTHERS focus on the environment etc. Anyone who isn’t concerned about the latter really isn’t very informed or mature. But fortunately there are many people out there doing good work, so it isn’t a one or the other thing.
That said, I have been yearning for a more industrial experience in housing lately, and was thinking of wandering Bushwick to see what it is like. Last night I saw Danny Hoch’s show at the Public (Taking Over) which is a very pointed commentary on people like me (and probably you) gentrifying existing lower income neighborhoods. Really really recommend it.
The quote from Bushwick BK about letting prices fall to let back in normal buyers is the smartest thing ever. Period.
“Handyman’s Dream”
what do you really expect to happen when prices for homes in a predominantly working class neighborhood quadruple in 6 years? maybe if organizations like habitat for humanity and other non profit voolunteer organizations focused on more prevalent and local things like rehabbing these houses for low income families instead of the absurd worries they seem to focus so heavily on these days (hello manatees? green living? blah focus on the immediate and then we can worry about what Earth will be like in 4000 years. cuz at this rate we will not be around in 40 years!).
*rob*
above photo caption:
Estate ready, needs TLC, 1.4 mil.
Corcoran