Dealing With Brooklyn’s Gentrification Invasion
Is Brooklyn’s expanding gentrification that serious? If so, what can you do about it?
Brooklyn real estate has certainly rivaled Manhattan’s over the past few years, and some may even say that it has surpassed it in some cases. Brooklyn is now home to some of the most spectacular buildings, businesses, and communities in the world. But not everyone is happy about it.
Time for a Revolution?
As new tech stores, hot restaurants, and stylish Brooklyn condominiums with epic concierge services have gone up, some have grown increasingly vocal about their dislike of this trend.
One of the world’s most popular blogs, Gawker, recently posted a piece essentially inciting the public to go out and cause physical property damage to the investment properties and homes of the wealthy in Miami, Florida. Aside from the fact that this is still a pretty serious crime, and seriously counterproductive for the lives of anyone who falls for such manipulation, it may be just a little short-sighted too.
There is no question that affordability is an issue across America, and major international cities. It is absolutely a shame when locals are priced out of their neighborhoods, and when education and other services suffer because great workers can’t live within reach of the jobs. However, those that are really passionate about fixing this situation can certainly find positive and constructive solutions, rather than destructive and violent ones. Plus, we haven’t seen many lines of people eager to throw away their iPhones, stop eating out and choosing to downsize to the most affordable properties they can find.
Wealth, Philanthropy & Revitalization
Positive change costs money and needs to be financed too.
Vaccines, drilling wells for clean water, going green, better education, and safe housing all cost money. It’s a fact.
It can easily be argued that America’s wealthiest have also been amongst the most powerful and generous donors to these causes, and plan to do far more over the next couple of decades. That should never be justified if it is only thanks to raiding the piggy banks of the working class and grandma facing retirement. When it comes to real estate, that doesn’t seem like a direct connection. The likes of Warren Buffett have been among the leaders in pioneering green homes and the most affordable manufactured homes. Most people have a choice in where they live, and opting for the trendiest NYC apartments is a luxury. It’s also hard to fault a Buffett for spending a million or so on a home from where they can generate tens of billions to solve the biggest world problems.
There are some ethics questions, yet to brand everyone with a nice home or condo a bad person, or someone who extravagantly wastes precious resources may not be fair either. And if you’ve ever lived in North Korea or Venezuela you will have first-hand witnessed that when everyone becomes poor in the name of equality no one is happy. Those who were already poor are no happier, and those whose assets were nationalized generally aren’t happier either.
Finally, consider the need to improve and revitalize Brooklyn communities for health and safety reasons. There have been areas and buildings which have essentially been deserted or desperately underused for years. If those are renovated or developed they can provide more housing to alleviate the crunch, and can bring up to date healthy places to live, earn a living, and enjoy life.
Much of what is being developed in Brooklyn now is mixed use or commercial property and should be put to better use.
You don’t have to move or work there, but you might want to. You might want to participate. What is going to have a more positive impact and create more personal success; throwing rocks at rich people’s windows or becoming a part of the process, financially benefiting from sound redevelopment, and having a say in what is built and how much the rents are?
Want to be a part of the solution? Check out the opportunities today…