Report: Foreclosures Hurting Prices in Bed-Stuy
Small multi-family buildings in lower-income neighborhoods of Brooklyn have been particularly hard hit by the housing crisis, according to a new report from TerraCrg Commercial Realty Group. As reported in The Real Deal, 80 percent of foreclosure filings in Brooklyn over the past year were for mortgages under $1 million and 51 percent of non-residential…
Small multi-family buildings in lower-income neighborhoods of Brooklyn have been particularly hard hit by the housing crisis, according to a new report from TerraCrg Commercial Realty Group. As reported in The Real Deal, 80 percent of foreclosure filings in Brooklyn over the past year were for mortgages under $1 million and 51 percent of non-residential mortgages were for three- to four-unit residential buildings; the article also notes that “the majority of the foreclosures took place in lower-priced neighborhoods like Bed-Stuy and East New York.” The result? “A bevy of three- to four-unit residential buildings in Bedford-Stuyvesant can be had for under $300,000.” No big surprises here, though the headline tries to put a positive spin on the news: “Discounted Brooklyn brownstones coming to market, but not in prime neighborhoods.”
Discounted Brooklyn Brownstones Coming to Market [TRD]
to be clear,
true poverty does exist in America, but not to the extent that some, particularly democrats and the left, would have you believe.
what you have most of the time is, in essence, people with alot in America, angry at people with even more in America.
The guy with the chevy is angry he doesn’t have the benz.
The guy with the 2 bedroom house is angry he doesn’t have the 4 bedroom house.
The guy with the color television is angry he doesn’t have the 50 inch plasma tv.
and so on,
and by god they will vote themselves into it if they have to and they will continue taxing others until they get what they want.
unfortunately,
you can only tax people so much until there’s nothing left to tax.
> But there’s no evidence that he’s done something for the
> benefit of all people with a net worth or income of XXX.
Of course not. Crony capitalism is for cronies.
hey dibs,
here’s the final word on the class warfare stevieb et al like to dredge up for political expediency.
this info is culled from the last census:
*************************************
Forty-three percent of all poor households actuÂally own their own homes. The average home owned by persons classified as poor by the Census Bureau is a three-bedroom house with one-and-a-half baths, a garage, and a porch or patio.
Eighty percent of poor households have air conditioning. By contrast, in 1970, only 36 percent of the entire U.S. population enjoyed air conditioning.
Only 6 percent of poor households are overÂcrowded. More than two-thirds have more than two rooms per person.
The average poor American has more living space than the average individual living in Paris, London, Vienna, Athens, and other cities throughout Europe. (These comparisons are to the average citizens in foreign countries, not to those classified as poor.)
Nearly three-quarters of poor households own a car; 31 percent own two or more cars.
Ninety-seven percent of poor households have a color television; over half own two or more color televisions.
Seventy-eight percent have a VCR or DVD player; 62 percent have cable or satellite TV reception.
Eighty-nine percent own microwave ovens, more than half have a stereo, and more than a third have an automatic dishwasher.
As a group, America’s poor are far from being chronically undernourished. The average consumpÂtion of protein, vitamins, and minerals is virtually the same for poor and middle-class children and, in most cases, is well above recommended norms. Poor children actually consume more meat than do higher-income children and have average protein intakes 100 percent above recommended levels. Most poor children today are, in fact, supernourÂished and grow up to be, on average, one inch taller and 10 pounds heavier than the GIs who stormed the beaches of Normandy in World War II.
The RE tax rebates were $400 for every homeowner. They unjustifiably benefitted those in poorer nabes with much lower taxes.
What are some examples where he’s pandered to the rich as an overall group of people. Sure, there are deals with rich people but that’s because rich people have big companies that do business with the City.
But there’s no evidence that he’s done something for the benefit of all people with anet worth or income of XXX.
> If you don’t think there will be despicable politics with Thompson
True that, but I’m ready for a different flavor of despicable.
Your comments that Thompson will “give in to everything” are laughable. I love the absurd meme that Bloomberg is rich enough to not be beholden to anyone. It just means he panders to the rich instead of the working class.
Time for him to go.
Stevie, I don’t think anyone kicked you out of the OT. Unfortunately there are no guarantees of niceness over there. 🙂
Pop in and post some cat shit and everyone will like you.
I’ll tell them you’re coming. no homo
>>Stevie, I like your sense of humor.
thanks Dave. am i allowed back into the OT? are u going to be nice to me?
BHO, what do u do for a living? You sound very smart and educated. Are you an economist or something like that?
Posted by: stevieb at October 30, 2009 3:18 PM
Stevie, I like your sense of humor.