Manhattan's Bounce Detectable in Brooklyn?

Chicken, thanks for posting that article, though I don't necessarily think that the info is counter to what is in the one Brownstoner posted, which merely talks about increased deal-making, not rising prices. The article you posted is exactly the kind of analysis that makes me be on Team Reasonable. Most reasonable people value their lives and the details there-in more than the absolute price of their house and for this reason, all of the theories about when to buy and sell to "maximize" market return are just not valid for most people. When to sell or buy is almost always connected to some real world event, positive or negative, and not a market driven decision. For the very lucky few (Miss Muffett or BHO say) finances, timing and opportunity all line up (they hope) to provide the perfect storm of value. But most are not in that position, nor care to upturn their lives to get in that position.

Posted by: wasder at June 8, 2009 9:43 AM

"we're not talking about maximizing return so much as avoiding avoidable financial ruin."

Good points Joe and I totally see what you mean about our parents generation rather than ours. But many of the same factors still apply. Yes, its more extreme in NYC these days with huge shifts up and down but still many of the same real world scenarios still apply (or at least they did for me).

Posted by: wasder at June 8, 2009 10:24 AM

"I guess to qualify for Team Reasonable, you have to already own a home. No? Any such members out there rent?"

Not at all. Had I already been renting I would have continued to do so for the foreseeable future but I needed to sell a coop last year and made what I thought was the best decision I could make about where to buy next (replete with compromises a plenty). Team Reasonable is a mindset rather than a Team with a financial agenda to pursue. The mindset is one of inclusion and understanding and is therefore open to anyone who chooses to look at living in Brooklyn from a broader perspective than housing prices, and who chooses to set aside the finger pointing and derision one sees on both sides of the argument. I personally am sick of being lumped in the caricature of the marauding yuppy masses just as I am sure Miss Muffett is sick of being ridiculed and abused for her choice to sell at peak market and wait out the fall. If life had a rule book to follow that applied to everyone all the time it would be easy to say one person or another made a bad choice but every person faces a completely different set of variables that render their options unique from everyone else's. Team Reasonable seeks to lessen the rancor found on this board and to foster a broader understanding of what living in Brooklyn is all about. Renters absolutely welcome. As are you BHO, provided you can resist the urge to poke us buyers in the eye at any given opportunity.

Posted by: wasder at June 8, 2009 12:52 PM