As we continue to raise the awareness of Gentrification in NYC this year, we present to you the current trend in pricing that has occurred in the past 15 years in Harlem. Many say that Brooklyn has become the face of this change in NYC. While in all reality Harlem is rapidly changing as we speak as well. With its location on Manhattan itself, the real estate of these neighborhoods are very enticing to those with dreams of moving to NYC. Now clearly the people who are able to afford 800k homes are not the disenfranchised. With no signs of sale going down it brings up the question, just who are the people buying these houses? And how are the people who have lived in these neighborhoods for generations, ever going to be able to keep up with the onward trajectory?
Data from Trulia.com
While the future may seem bleak from a outside perspective. Best believe the people of these communities are not going to be pushed out without a fight.
“As recent as this June a review of New York State’s rent control laws will affect the fate of thousands of Harlem families living in rent-controlled apartments. Advocates for fair rent control and lawyers have said they would like lawmakers to stop landlords from removing rent controls on their units and increase oversight of developers who claim tax exemptions for their often dubious promises to build new affordable units in the neighborhood”
For More information on check out http://columbiaspectator.com/news/2015/03/26/housing-advocates-say-harlem-must-preserve-affordable-housing