Affordable rents in Carroll Gardens
I wanted to ask how much longer do we have to wait for rents to come down to affordable levels for families? There are alot of families that would like to move back into Carroll Gardens but can not afford to compete with landlords that rent to 5 or 6 adults that work and pay…
I wanted to ask how much longer do we have to wait for rents to come down to affordable levels for families? There are alot of families that would like to move back into Carroll Gardens but can not afford to compete with landlords that rent to 5 or 6 adults that work and pay 500 dollars each a month making the joy of the homeowners wallet but destroying the happiness of many families
Almost a year later and rents are still coming down!
There are condos in Carroll Gardens, Cobble Hill, Park Slope, Brooklyn Heights, Fort Greene? That’s what people on this forum mean by “prime” Brooklyn. I thought it was mostly multi-family brownstones and a few coops. I realize there are a lot of unfinished condos in Williamsburg and other areas. I am not going to argue that the prices on those “luxury” condos are reasonable or unreasonable. They always seemed undesirable and a blight to me. They’re not built for families. As for subprime loans, they’re concentrated in Bushwick, East Flatbush, and Queens.
Let me ask you. Price of an average condo in “prime” Brooklyn 190,000 dollars 1999-2000. Price paid for that same condo in 2006 550,000 dollars. You see no market deformity there? It seems normal and sustainable to you? Why is there no rush to finish all those unfinished condos in “prime” Brooklyn? I know quit a few who have subprime loans in that area.
That is actually an interesting idea, Hannible. Since you are right that rents go up as housing purchase prices increase (in the city, and in multi-families. This does not apply to commercial property nor coops.) I could be wrong but I believe the political reason for any mortgage renegotiation is to increase purchases on credit and prop up the whole messed up system again. Because if it comes to a halt, we’re all in a mess. Though we’re already in a mess.
By the way, one thing you should know: People in “prime” Brooklyn — Carroll Gardens, Park Slope, Brooklyn Heights, and so on — were not given subprime mortgages. So if they do get in trouble, it will be because they lost their jobs AND were subsequently unable to sell for break-even. This is probably going to be a fairly small number of people.
My point is that homeowners in “prime” Brooklyn are not likely to be ones that will get mortgage renegotiation/bailout/handout/etc.
I am glad that you love your tenents. I am angry at homeowners who are whinning about not getting their 400.00 dollar city check. I am also angry that people bought homes way over their heads and now expext the government to help them out. If homeowners get a bailout I as a renter want one too.
correction “should not be at the mercy of ppl who can only afford to rent somewhere LESS DESIRABLE TO THEM.” sry…..I love my tenants.
As long as there are hipsters that want to be “urban trendy” and run around the city looking at all the real new yorkers like its an f’n safari or something my rents will only go up ,thank you…….Tthe fact is that there will NEVER be a shortage of yuppies here….ITS NYC…they are taking over….believe it….Homeowners are ppl too that had to struggle to get a home and should not be at the mercy of ppl who can only afford to rent due to the fact that in thier eyes its not “Fair”….boo-hoo…..I’ve got a mortgage to pay.
Huh? I am not upset with the Italians. Just pointing out that its “glory” days that you seem to pine for were in 1870.
It will shortly return to the old glory days of being an Italian slum like you call it. Tell me you upset with italians because they tried sleeping with your sister? Don’t feel bad about it. Italians pay cash. You on the otherhand…..