Doesn’t exactly sound like “bloodbath.” I’m not sure who the anonymous July 8, 9:25am poster is above, but this person magically materializes every time there is an opportunity to talk down Harlem on some blog, and trots out the same tired litany. It’s bizarre.

The other posters have it closer to reality. The dynamics of the real estate markets and credit markets have changed — as they have everywhere. A major initial effect of this has been to take the speculative element out of the market. This element was especially pronounced in Harlem, and few of us here are going to mourn its passing. If the market can now find a more rational and sustainable equilibrium, this will be a positive development for most everyone other than flippers, speculators, and their hangers-on.

My father bought a home up in Hudson Valley over 20 years ago for $115,000. At that time, a comparable home in a decent neighborhood in New York City would’ve sold for less. He must of initially invested over 50K and another 100K over the 20 year period bringing the total investment to about 250K. He placed it on the market for $200,000 this Spring and didn’t get one offer. Now thats sad. Especially taking into consideration how much energy and effort they put into the home. It wasnt an investment to make a quick buck; it was their retirement. That’s where the NY Times, if anything, should write about.

you kind of talk out of your ass a lot.

Spirited talk with no substance. It can be effectively argued that Harlem is a region with vast numbers of people who cannot afford to live in Manhattan, yet do, largely on backs of the taxpayers of New York. In sum, Harlem is a community that relies on social welfare programs to keep the citizenry “status quo”.

“Thrive”? Who’s thriving in Harlem? Certainly not Black business or people. UF has published and chronicled the long list of Harlem Black businesses that have gone out of business (the old like Copelands and the new like the Harlem Tea Room).

I like to speak glowingly and romantically about Harlem too, however I also like to speak honestly about Harlem. Spirited talk is meaningless while also ignoring and turning a blind eye to the facts on the ground, the vast numbers of deeply entrenched in generational welfare.

That’s the elephant in the room. “Thrive” in Manhattan when the average income is $32,000? Thrive when Black male unemployment exceeds 55%? Sorry, the truth on the ground, the demographics state otherwise. Spotted and isolated gentrification yes – however only that, spotted and isolated. 1 New Condo Bldg that cannot sell @ $800/sq’ does not counter balance a project with several hundred welfare class people and no disposable income.

Much of Harlem strikes me as being in “fantasy land”. I hear a lot of spirited cultural base talk…..while the public schools are awful and how do you attract families to buy $750,000 apartments when the schools are horrible? There’s a disconnect, a not acknowledging of fact and conditions on the ground.

Ironically it kind of reminds me of the Michael Jackson thing. Blacks largely herald and celebrate Michael Jackson as if he was a God or something, while disregarding how he justified being a 40+ year old man and sleeping in a bed with young children that are not your own…as being something right and appropriate, how he paid off a family $22M to settle a child molestation legal action, how we was a full blown hard core drug addict.

Blacks tend to see Harlem & MJ without the thorns…

Harlem will continue to thrive and this is only the begininng. Black people are genius… just give them the opportunity. My president is black, the best golfer is too. The MVP of the NBA, The KING OF POP.

On a serious note; human attitudes have tremendously shifted with respect to race relations. The animosity that was prevalent amongst black, whites and latinos has simmered down greatly. This will stand to benefit multi racial neighborhoods such as Harlem where diversity rules!!!