wait, we're excited because a bunch of apartments were /rented/ for reasonable rents now?

Posted by: sashae at August 3, 2009 9:56 AM in response to Bedford Avenue Building Leased in One Day

So your theory, DIBS, is that suddenly the price declines are going to stop with prices now at Case-Schiller 2003 levels? What would be the impetus for the halt in the decline?

Posted by: sashae at July 2, 2009 12:57 PM in response to Housing Market - Where Are We?

The listings under $1mil are getting closer to the prime areas now...

Posted by: sashae at March 28, 2009 10:33 AM in response to Open House Picks

Do they throw in the other half of the house for free or something?

Posted by: sashae at March 24, 2009 4:48 PM in response to House of the Day: 154 St. James Place

@shillstoner -- Yes, the 3.4% is the average annual appreciation for the last 100 years.

@daveinbedstuy -- 1999 was the peak of the tech bubble, so if anything prices should be INFLATED at that point.

@cwbuecheler -- I figure even considering the much greater bang-for-the-buck outside of NYC, you've got to pay that NYC premium to stay here. I can live with that, to some extent. To the current pricing? No thanks.

Posted by: sashae at March 23, 2009 2:50 PM in response to House of the Day: 465 13th Street

Not quite that long ago Dave. The average townhouse price in 1991 in Brooklyn Heights/Park Slope (combined) was $489k -- range was $320k - $915k.

390 4th St (between 6th/7th, 3fam 4 story brick) sold for $675k in 1999.

Or how about 338 16th (a 2 family frame) sold for $345k! This was merely 10 years ago!

A better comparison, perhaps, 336 7th, a 3 story 2 family brownstone at $425k.

The stratospheric pricing of the last few years has distorted the value of property so grossly that it's going to take quite a while to come back. That 675k inflation-adjusted is merely 832k now. If we follow historic housing cost appreciation for the last 100 years (as per Case-Shiller) of 3.4%, that'd put us at $1.162mil.

For something like the aforementioned 336 7th, that'd put us at $524k inflation adjusted, and 732k standard appreciation rate.

Something to marinate on.

Just something to think about.

Posted by: sashae at March 23, 2009 2:37 PM in response to House of the Day: 465 13th Street