My second source entry is an article entitled “15 gentrifying neighborhoods in New York City”. This article was written by Jean Folder and utilizes statistics and numbers to reflect the effects of gentrification in NYC. It was published and released on the website “Investopedia: by Jean Foldger, wh has 15 years of experience as a financial writer covering real estate and other topics.

 

This article begins by explaining what gentrification is, which as we know now is when wealthy individuals move into poor communities (that are usually predominantly full of people of color). She then further pushes that notion by explaining that this can have an effect on said communities culture, people, and overall way of living. This can have negative impacts such as increased rent and property values. The text states “A recent report from the NYU Furman Center analyzed gentrification within New York City’s sub-boroughs. It defines “gentrifying” neighborhoods as those that were comparatively low-income in 1990 (in the bottom 40% of the city), but that have experienced higher-than-median neighborhood rent growth in the following two decades.” Indicating that increased rent has had negative effects on individuals who resided in said communities before gentrification. This can lead to many having to move out of their homes, and even neighborhoods because they now can not financially provide for their previous way of living. Foldger further goes on to state that Manhattan and Brooklyn have the highest rates of gentrification out of the 5 boroughs, followed by The Bronx and Queens.

 

One thing that article helped to do specifically was provide numbers and statistics to support the information that was given to me in my previous source entry. For example Foldger states that in Mott Haven/Hunts point there was a “Percent Change in Average Rent Between 1990 and 2010-2014’ which was “23.5%”. This information supports the aforementioned fact that gentrification negatively impacts poor communities in New York because it increases rent, which makes it all the more harder for New Yorkers to provide and live. Another instance in which these statistics helped was in the text where it stated that the average rent in Central Harlem had increased 53.2% from 2010 to 2014. This shows us that not only are the prices negatively affecting those who aren’t rich but that it is often occurring in places that contain a large colored community, such as Harlem.

 

Another thing that would help my essay would be to look up first person accounts where they discuss what it was like as a poor or colored person, dealing with gentrification in their communities. I think this will help to not only give first person type evidence to support my topic, but it will also help to help readers understand. I believe the best information is from experience and encounters. If i could ask the author something in specific i believe i would ask them whether or not they could provide statistics on how many people move out of said communities since gentrification began there and rent increased.

 

“While the process can certainly lead to some positive changes in the community – for example, reduced crime, increased economic activity and new investment in area buildings and infrastructure – the benefits are usually enjoyed most by the new arrivals, and not by the established residents.”

 

“Bedford-Stuyvesant

Percent Change in Average Rent Between 1990 and 2010-2014: 36.1%

Median Sales Price Today: $712,500

Median Rent Per Month Today: $2,275

Median Household Income Today: $40,625”