This could slow down the market in Brooklyn a bit, but I would be surprised if there were a major market correction. However, this is a time when location will help ensure your (Brooklyn) property value. NYC (Manhattan) real estate prices are kept so consistently high by foreign investors, and I don't see this changing until the dollar is strong again.

There are probably quite a few buyers who will sell their properties and use their earned equity for a generous down payment on a Brooklyn brownstone or high-end condo / co-op, but maybe people will be less willing to take a risk on a neighborhood?

Posted by: TJ at August 13, 2007 11:03 AM in response to The Market Impact of Higher Jumbo Mortgage Rates

I love this park. My husband and I walk through it nearly every day. Just yesterday we sat along the waterfront watching the ferries go by in the rain and we were saying what a paradise it is. We saw a little boy off by himself throwing stones into the water. I really do hope that it will never be turned into a marina, especially a high end one. This park, and the small stretch of accessible shoreline should be kept open for everyone.

It's tough to read 'anon's comments that she doesn't live in the neighborhood, but thinks the marnia would have 'a nice feel'. It really made my blood boil. So many DUMBO residents are so emotionally invested in this small neighborhood, we know we are lucky to live here and we desperately want to protect the things that make it so special.

Posted by: TJ at August 11, 2007 11:47 AM in response to Dock Street Plans (Marina and All) Go 3D