Thursday, July 20, 2006

Movin' on up; news on our first black former president

To some residents there, Bill Clinton is no Angel of Harlem.

However, Captain Ed believes their wrath at Jefferson Clinton is at least partly misdirected:

It's unfair of Harlem residents to target Clinton for their woes, or at least him alone. New York has a number of factors that play into the sharp increase in housing costs, most of which have to do with their high tax rates and top-down rent control. The latter comes from a market that has too much demand and too little supply in the first place. Eventually that market effect would have driven people to Harlem for better prices; Clinton just made it trendy to do so.

3 Comments:

Blogger Joe Guarino said...

The Harlem Renaissance began during the 1990's, and was to some extent opposed by some of the local leaders who had other financial interests in mind. Clinton's arrival only built upon that Renaissance that was already occurring.

But rent control is a sacred cow in the Big Apple.

7/20/2006  
Blogger Glenn said...

Thanks for pointing that out Joe. I was talking to buddy about this today and we couldn't remember where Clinton originally wanted to locate his NYC office. Wasn't that nixed because of security concerns? Do you remember?

7/20/2006  
Blogger Joe Guarino said...

I believe it was somewhere midtown north of the Times Square area. The Central Park South area perhaps? I remember also that the cost of the proposed office space was astronomical.

7/21/2006  

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