westend wrote:
"bedstuy" is shorthand in NY speak for Bedford-Stuyvesant, an area of Brooklyn. Once, a low income place to live, it's now become housing for the younger folks that work in Manhattan and can't afford housing there.
Since rent control was abolished a few years ago, rental prices and real estate have gotten a lot higher. In Brooklyn (Fort Green), I met one older lady that now lives on the street in front of the building she used to live in.
Those two-story brick walk-ups you see in the movies and on TV, in Brooklyn, now sell for $1 million, stripped. That is four walls, two floors, a staircase, and not a wire, a pipe, or anything else inside.
Neither rent control or stabilization have been abolished in NYC; you're probably thinking of Boston. I'm sure that if the state laws were abolished regulated apartments' rents would rise to market rate which might bring down overall rents according to one argument.
Controlled rents tend to be a good 45% less than market rate while stabilized apts. are about 25% less. I can only say about because thank goodness I neither live in or manage rent regulated apts anymore. Anything to do with rent regulated apartments is almost always antagonistic, LOL.
Hope you got to see the newly restored Prison Ships Monument. It's quite impressive especially since the lights have been turned on and graffiti removed.
