Park Slope: The Canary in the Coalmine

Brooklyn & Manhattan are two completely different beasts although some brokers tend to think otherwise. So this is not at all surprising. Although we are only seperated by teh river , these are two different islands.

Posted by: guest at March 28, 2008 9:14 AM

oh perish the thought

well you can sell your bugaboos when the brats turn 7 years old for extra mortgage money

park slope blows

Posted by: guest at March 28, 2008 9:16 AM

1) stats are easily skewed when samples are small (as in how many sales of 1 bedroom and how many sales of 3 bedrooms in Tribeca took place in period)
2) How accurate are the stats (this is Streeteasy we are talking here)
3) The higher income the area, the less prone they are to downturn in prices. Especially when you are talking super-rich ---as peopel that buy in Tribeca.
4) I see little value in comparing 1 neighborhood to another like you would from 1 stock to another. What is meaningful is stats for the metro area or at least NYC as a whole - which is down slightly.

Posted by: guest at March 28, 2008 9:16 AM

go away "faded type" spammer. No one else cares!

Posted by: guest at March 28, 2008 9:18 AM

The comparison is wrong. THey should be comparing tribeca condos to brooklyn brownstones. A one bedroom in park slope is not at all comparable to a condo in tribeca in terms of the demographic or the price.

Posted by: guest at March 28, 2008 9:19 AM

Guest 9:18 what makes you the authority on everyone on this board? I agree with the faded type commentator.

Posted by: guest at March 28, 2008 9:21 AM

good one 9:16!

Posted by: guest at March 28, 2008 9:22 AM

I expect prices in Park Slope and nearby neighborhoods to crash to the point where young college-educated couples in their early 30s can actually afford to buy rowhouses there, even if they are not hedge fund traders. And those with somewhat lesser incomes, the proverbial cops/firemen/small shop owners, can afford to live in 2 Br condos.

And I don't see that as a problem.

Posted by: guest at March 28, 2008 9:24 AM

Listen you visually impaired SOB, keep it up and I'll make sure you end up completely blind, not just partially.

Posted by: guest at March 28, 2008 9:24 AM

there is way too much talk about park slope on this site. who cares about park(stroller) slope?

Posted by: guest at March 28, 2008 9:24 AM

Fucking Park Slope stroller moms. Them and their smugness and their suffocating sense of entitlement. Bitches.

Posted by: guest at March 28, 2008 9:29 AM

Please be civil

Posted by: guest at March 28, 2008 9:33 AM

The faded type guy should find something else to do.

Prices will go down everywhere in a recessions. Prices will go down less and later in areas where more people with more money and more cushion live. Why is it even controversial?

Posted by: guest at March 28, 2008 9:41 AM

As the dollar continues to weaken, Manhattan housing prices will only increase or at least hold steady because of the influx of flush Europeans snapping up condos at--to them-bargain prices. Thankfully, Brownstone Brooklyn is of interest only to local New Yorkers who are feeling the economic pinch like everyone else. Let's stop hating the Slopers and aim our enmity at Eurotrash instead!

Posted by: guest at March 28, 2008 9:48 AM

I think people need to realize that euro money is not going to flow in and prop up the Manhattan (and by extension, Brooklyn) real estate market forever. Even if the dollar is weak, no one wants to invest in a market that's going down, especially if it really is investing and not buying a primary residence. Also, the Europeans are being hit with their own economic problems at home. Of course there is a handful of very wealthy individuals who aren't that affected by this, but in general I think you're going to see European interest in buying in the US dropping quite a bit (would be surprised if it hasn't already).

Posted by: guest at March 28, 2008 9:55 AM

faded type spammer- please seek some psychiatric help. You are in dire need of it.

Posted by: guest at March 28, 2008 9:56 AM

For what it's worth, I don't like the faded type either.

The faded type poster is correct, the vast majority of posters for whatever reason choose to be anonymous.

It does not look like faded type is encouraging people to register and it is harder to read.

Posted by: guest at March 28, 2008 9:56 AM

faded type spammer- please seek some psychiatric help. You are in dire need of it.

Posted by: guest at March 28, 2008 10:01 AM

9:55 you are wrong. Lots of people will invest in a market that is going down, thinking it will eventually go back up again. What a wrong headed statement.

Posted by: guest at March 28, 2008 10:02 AM

I find the faded type easier to read than the black type. You need to calibrate your monitor.

Posted by: guest at March 28, 2008 10:03 AM

At least 95% of the posts on this site are from people who're logged in as "guest". This means that someone reading the comments on this site will be reading almost everything in faded type. Now, I understand why the faded type is used for "guests". However, in my opinion it's not worth it.

The faded type is clearly legible, but over the long haul it is more fatigue-inducing than regular, darker type. So, Mr. B, do you really want to condemn your readership to slogging through so much faded type?

Just a thought. Again, I do understand why the faded type was introduced. I just don't think it's worth it. You're shooting yourself in the foot (and inducing eyestrain in your readers) as things currently stand.
At least 95% of the posts on this site are from people who're logged in as "guest". This means that someone reading the comments on this site will be reading almost everything in faded type. Now, I understand why the faded type is used for "guests". However, in my opinion it's not worth it.

The faded type is clearly legible, but over the long haul it is more fatigue-inducing than regular, darker type. So, Mr. B, do you really want to condemn your readership to slogging through so much faded type?

Just a thought. Again, I do understand why the faded type was introduced. I just don't think it's worth it. You're shooting yourself in the foot (and inducing eyestrain in your readers) as things currently stand.
At least 95% of the posts on this site are from people who're logged in as "guest". This means that someone reading the comments on this site will be reading almost everything in faded type. Now, I understand why the faded type is used for "guests". However, in my opinion it's not worth it.

The faded type is clearly legible, but over the long haul it is more fatigue-inducing than regular, darker type. So, Mr. B, do you really want to condemn your readership to slogging through so much faded type?

Just a thought. Again, I do understand why the faded type was introduced. I just don't think it's worth it. You're shooting yourself in the foot (and inducing eyestrain in your readers) as things currently stand.
At least 95% of the posts on this site are from people who're logged in as "guest". This means that someone reading the comments on this site will be reading almost everything in faded type. Now, I understand why the faded type is used for "guests". However, in my opinion it's not worth it.

The faded type is clearly legible, but over the long haul it is more fatigue-inducing than regular, darker type. So, Mr. B, do you really want to condemn your readership to slogging through so much faded type?

Just a thought. Again, I do understand why the faded type was introduced. I just don't think it's worth it. You're shooting yourself in the foot (and inducing eyestrain in your readers) as things currently stand.
At least 95% of the posts on this site are from people who're logged in as "guest". This means that someone reading the comments on this site will be reading almost everything in faded type. Now, I understand why the faded type is used for "guests". However, in my opinion it's not worth it.

The faded type is clearly legible, but over the long haul it is more fatigue-inducing than regular, darker type. So, Mr. B, do you really want to condemn your readership to slogging through so much faded type?

Just a thought. Again, I do understand why the faded type was introduced. I just don't think it's worth it. You're shooting yourself in the foot (and inducing eyestrain in your readers) as things currently stand.
At least 95% of the posts on this site are from people who're logged in as "guest". This means that someone reading the comments on this site will be reading almost everything in faded type. Now, I understand why the faded type is used for "guests". However, in my opinion it's not worth it.

The faded type is clearly legible, but over the long haul it is more fatigue-inducing than regular, darker type. So, Mr. B, do you really want to condemn your readership to slogging through so much faded type?

Just a thought. Again, I do understand why the faded type was introduced. I just don't think it's worth it. You're shooting yourself in the foot (and inducing eyestrain in your readers) as things currently stand.

Posted by: guest at March 28, 2008 10:21 AM

"Does this suggest a relative weakening for Brooklyn as a whole versus Manhattan going forward?"

Yes. If not these data, then the downturn in the housing and credit markets and the economy overall suggests exactly that.

When the economy was improving those in 'better' bkln areas looking to upsize would look to 'lesser' bkln areas. The thought was that they couldn't afford a house in PS to replace their PS coop, but surely bedsty would be the new park slope in 5 years. At that time those in Manhattan were buying in PS because they couldn't afford more space in Manhattan and PS had improved.

Now that the recession is being recognized as such Manhattanites will lose faith in the presumption of improving outer borough status. Those looking to upsize within Bkln will also contract the area in which they are willing to search.

The difference is that the neighborhoods manhattanites were moving to may have already passed the tipping point at which a recession could destroy them. However, I fear that those areas of bkln that we hoped would continue to improve (bedsty, crown heights, PLG, etc) didn't quite get there.

Posted by: guest at March 28, 2008 10:34 AM

I've always thought Park Slope was vulnerable. Not like, say, Bed-Stuy, but not safe like B. Heights. The run-up was simply far greater and far faster than any other Brooklyn neighborhood. It could drop 20% and be where it was just 18 months ago. 30% and be where it was 24 months ago.

I'm expecing a big drop in Park Slope prices.

Posted by: guest at March 28, 2008 10:44 AM

you can set the font color within your browser preferences.

spend a couple of minutes using google to figure it out.

Posted by: guest at March 28, 2008 11:08 AM

"While Park Slope may be holding up better than, say, Bedford Stuyvesant, it's evidently doing a whole lot worse than Tribeca"

Why not better than East New York? In the upcoming Depression all asset classes will fall. Without funny money being pumped thru the system and no access to credit, I think all neighborhoods are going to get hit.

Now that I'm in a good frame of mind I will restrain from using foul language. I can get my point across without using it.

The What

Someday this war is gonna end....

Posted by: guest at March 28, 2008 11:32 AM

But this is madness? Isn't park slope one of the best neighborhoods in the country and have all those new things on 5th ave opening?

This data must be false. there's no way park slope prices aren't increasing astronomically.

Posted by: guest at March 28, 2008 11:40 AM

But this is madness? Isn't park slope one of the best neighborhoods in the country and have all those new things on 5th ave opening?

This data must be false. there's no way park slope prices aren't increasing astronomically.

Posted by: guest at March 28, 2008 11:42 AM

Yes I am shocked as well 11:40!! But you know what makes Park Slope so great, is the people. Those stroller moms that push you off the sidewalk into the middle of traffic and than give you dirty look when they pass by. I love taking walks through PS, it is so delightful. That is why the real estate market will flourish there forever.

Posted by: guest at March 28, 2008 11:44 AM

10:44--

"I've always thought Park Slope was vulnerable. Not like, say, Bed-Stuy, but not safe like B. Heights. The run-up was simply far greater and far faster than any other Brooklyn neighborhood."

No way. I also believe prices will fall in Park Slope, but look at some real estate listings from 5 or 6 years ago. Prices in Bed Stuy, Clinton Hill and Crown Heights shot up way more (in percentage terms) than Park Slope did. In 2007 houses in those neighborhoods were selling for probably three times what they did in 2002. In Park Slope, more like two times.

Posted by: guest at March 28, 2008 11:47 AM

I know so many young single banker type people that work in Manhattan that look at Brooklyn and Jersey being almost the same. When I tell them they should check out Park Slope they are like "whats that".... Not too many young bankers it seems want to live in brownstone area right now...

Posted by: guest at March 28, 2008 12:02 PM

I see that the misogynists are out in full force. Hopefully they won't procreate, although that normally entails finding a partner. May you guys,( and us women know that you ignorants are guys), never find yourself pushing a stroller, because your self hate will become apparent.

Posted by: guest at March 28, 2008 12:08 PM

"Not too many young bankers it seems want to live in brownstone area right now..."

No, not the young ones. They begin to look at brooklyn when they're married and their pregnant wife wants a 2nd or 3rd bedroom and maybe a yard.

Posted by: guest at March 28, 2008 12:13 PM

Here is another problem with PS, the moms who live there think they are gods gift to mankind. That they are somehow more important than any other person in Brooklyn. If you don't live in PS, your worthless to them and your treated like garbage. Sorry I could not afford to live in your neighborhood but you don't have to be rude and inconsiderate to me. Have some decency and please don't turn PS into the Upper East Side.

Posted by: guest at March 28, 2008 12:41 PM

idisagree---f'off. Push your 'tude and your doublewide right into the GowANUS

Posted by: guest at March 28, 2008 12:41 PM

Here is another problem with PS, the moms who live there think they are gods gift to mankind. That they are somehow more important than any other person in Brooklyn. If you don't live in PS, your worthless to them and your treated like garbage. Sorry I could not afford to live in your neighborhood but you don't have to be rude and inconsiderate to me. Have some decency and please don't turn PS into the Upper East Side.

Posted by: guest at March 28, 2008 12:43 PM

eurotrash getting hit too. when it was all the rage to take advantage of dollar weakness and buy, many of these guys probably didn't predict even further weakness in the dollar coupled with declining RE values. an irish carpenter who bought in november is underwater 7% just on the FX position. sure, they can wait that out, but will probably be underwater 20% on the RE by then.

Posted by: guest at March 28, 2008 12:56 PM

12:41, the problem is that PS'ers don't even recognize their own mannerisms or actions. They are not even cognizant of their rudeness because it is so ingrained in the psyche that this is the PS way. Its okay to yell at the barista for making mistakes, because you are priveleged and better than him/her. Your a PS'er, flaunt it!!!

Posted by: guest at March 28, 2008 12:59 PM

Stroller bashing is so last year... The whores who are lined up at Gorilla Coffee on the weekends for their fix are more annoying than the Stroller moms. And the stroller moms who go to Gorilla, Watch out for them!!!!!!!!!!!!!!!

Posted by: guest at March 28, 2008 1:00 PM

I agree i disagree. I think stroller moms are hot.
There's a whole lot of projecting going on from some of the mommy haters--"your worthless to them and your treated like garbage"--really? What did the mean mommies do to this poor soul? If you talk as stupid as you write their faces were probably just wrinkled in concentration trying to figure out what the hell you're (that's the write way to contract you are btw) talking about.

Posted by: guest at March 28, 2008 1:11 PM

I am a long time reader, lurker, and poster and I have come to the conclusion that as this blog has become more popular and influential -perhaps in people's choice of a neighborhood - people with a vested interest - are posting disparaging comments about neighborhoods in hopes of promoting their own. Thus PS is full of crazy mothers, PLG is dangerous, etc. This is really detrimental to what has been a great website and I think registration may be the way to go now. What about it Mr B?

Posted by: guest at March 28, 2008 1:15 PM

does registering make the comments actually work?

Posted by: guest at March 28, 2008 1:33 PM

What bothers me about Park Slope stroller moms is when they walk up to you on the sidewalk, spit directly in your face, poke you in the sternum HARD and say: "You are a worthless piece of shit and I will not rest until you die a torturous death." And then they sic their kids on you with little razor blades and bottles of lemon juice. They cut you and squirt you until you're begging them to kill you. Then that entitled bitch steps in and sticks an organic cinnamon stick up your ass, twists, and heads on her merry way. So fucking stuck up.

Posted by: guest at March 28, 2008 2:49 PM

"that's the write way to contract you are btw"

you can't make this shit up.

Posted by: guest at March 28, 2008 3:02 PM

stroller bashers = impotent renters

Posted by: guest at March 28, 2008 3:44 PM

2:49, its funny because its true.

Posted by: guest at March 28, 2008 4:50 PM

2:49, its funny because its true.

Posted by: guest at March 28, 2008 4:52 PM

park slope stroller moms don't give a shit about anyone but them and their little fuckers. if they try to run your over, run THEM right over on the sidewalk. fuck those pussy bitches.

Posted by: guest at March 28, 2008 4:53 PM

delete this profanity. please be civil. wash your mouth out.

Posted by: guest at March 28, 2008 5:01 PM

4:53's mommy smoked and drank during pregnancy. And turned tricks.

Posted by: guest at March 28, 2008 5:41 PM

“Now that I'm in a good frame of mind I will restrain from using foul language. I can get my point across without using it.”

I’m SO impressed with Mr. What’s new frame of mind! I can’t help but think that this is just the first phase of a total transformation. Who could possibly guess what the next phases will be? Let me try:

PHASE II: He starts using better grammar.

“Some day this war is going to end…”

“Perhaps this war will end, some day…”

“Some day this war will abate…”

PHASE III: He registers, and eschews faded type.

PHASE IV: He moves to Brooklyn.

Posted by: guest at March 28, 2008 6:02 PM

"the moms who live there think they are gods gift to mankind."

We are.

Posted by: guest at March 28, 2008 10:45 PM

10:45, you are delusional.

Posted by: guest at March 28, 2008 11:21 PM

sorry, losers. The obnoxious and ubiquitous stroller mom phenomenon is NYC-wide. Park Slope in no way has the monopoly on these people. See this post and note the pacifier comment.

http://curbed.com/archives/2008/03/26/carroll_gardensboerum_hill_attacked_by_strollers_skateboards.php?

Posted by: guest at March 29, 2008 9:47 AM

As a real estate investor in Manhattan and Brooklyn with over 30 years experience, I will tell you the cold hard truth. Real estate prices are going to nosedive far more than anyone is anticipating. We are headed for a great downward correction in prices, with many owners losing huge amounts of equity. Banks are doing an about face now and tightening up credit to an extent not seen in 30 years. Without easy mortgage money, and huge down payments, vast numbers of potential buyers are being totally eliminated from the market. Credit earthquakes such as what we've just seen at Bear Sterns are only the beginning of a major credit contraction. This will have a ripple effect throughout our economy, creating major dents in earnings and salaries across many different industries and occupations. Wall Street and the financial district will take huge hits, and buyers ability to pay grossly overvalued prices for area real estate will have vanished. We will all be seeing 25% to 35% drops in the value of real estate before this correction is all over. Just brace yourselves people.

Posted by: guest at March 30, 2008 1:54 AM

C'mon now - there are so many pain in the ass mom's as well as holier than thou hipsters in PS. Attitudes abound in all walks of life the difference is there is a baby/child at stake. Honestly, all I want as a relatively new Dad is to live life and play happily with my kid. I;ve gotten dirty looks and have been places with nothing but families all through the Slope but just remember this - I left all my criminal days behind me but if anyone - skinny jean wearing skateboader or Lexus driving Goldman Sachs I-Banker touches my baby I'll turn into the dirtiest mother fucker you ever saw.
I'm walking around with a stroller and it wouldn't be the first time I had to correct someone so let's treat one another politely and remember there are some crazy folks out there. Really crazy.

Posted by: guest at March 30, 2008 7:57 PM