Tuesday Links
Coin-O-Mat. Photo by galvarez51 from the Brownstoner flickr pool. Cyclist’s Death Highlights Need for Safer Streets [NY Daily News] Development Plans May Change Look of Coney Island [NY Daily News] Former Massey Knakal Execs Announce New Partnership [Brooklyn Eagle] Property Sells in Stuy Heights [Brooklyn Eagle] As Bonuses Dry Up, So Could Condo Sales [Crain’s…
Coin-O-Mat. Photo by galvarez51 from the Brownstoner flickr pool.
Cyclist’s Death Highlights Need for Safer Streets [NY Daily News]
Development Plans May Change Look of Coney Island [NY Daily News]
Former Massey Knakal Execs Announce New Partnership [Brooklyn Eagle]
Property Sells in Stuy Heights [Brooklyn Eagle]
As Bonuses Dry Up, So Could Condo Sales [Crain’s NY]
…at 135th and Park.
Amzi Hill, I wouldn’t be surprised to find certain homes around 95th and 5th (or Madison or Park) more than 10 times more expensive than homes two miles north of that location at .
It is really funny that this house is only 675K on a architecturally beautiful block and the house of the day yesterday was 8 million plus less than two miles away.
wasder, re: The What, you’re exactly right. His doomsday prediction was not just the collapse of the financial markets, but a “taking back” of Brooklyn from those of us not born there who bought property in the Borough. I keep challenging him based on my own confidence that, come October 16, I will still be living in my current home and able to afford the basic necessities in life.
7and5–couldn’t agree more. There must be a return to a time when home ownership is more than a pipe dream to be reached for desperately. NYC is a harder place than most to make that a reality I would imagine.
I talked to the Owner of this house and he wanted 700K back in May. When he brought this house it was a shell he told me. The Owner is a very nice man not greedy at all and just wants to go live his life in his native North Carolina.
Wasder,
I agree with you. But we have to get back to sound economics. Something that isn’t being discussed is the role of bonuses in the meltdown. NPR had a great story on the rush to give bonuses for now obvious mediocre work. Those bonuses caused even more erosion into profits and losses. I think the time of major bonuses is hopefully behind us.
My parents purchased a house in 1981 for 63,000. It was roughly 2X my dad’s income. It was cheaper than renting and payments were more than affordable-even with raising two kids. Even with the meltdown the house is now worth about 750K (located in Seattle). My point is that we need to get back to where houses are relative to income, people have at 10% for down payment and costs are cheaper than renting.
In re vindication of the What its unclear that his core “predictions” are being validated by this weeks developments. Certainly some of the companies he cited have tanked, but his real end game prediction was that the homeowners on this board will be somehow wiped off the face of the city. How and why this was going to happen was never made clear. I will give him some props for his consistent hammering of the economic problems we face but his end goal of some kind of monolithic destruction of the Brownstone neighborhood as it is understood here will never come to pass.
Morning to you Dow. Is it your prediction that the average townhouse in Clinton Hill will be worth 750,000 before we see the bottom of this trough?