[lbo-talk] subprime & gentrification

[Doug Henwood]

I emailed a pal who works on subprime and gentrification issues in  
NYC. His analysis is that in neighborhoods that were being gentrified  
before the bust (e.g., Clinton Hill in Brooklyn), foreclosure  
probably reinforces the process. In poorer neighbhoods (e.g. East New  
York, also in Brooklyn), it probably doesn't.