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
Well at least the Dutch paid cash. Most of these “homebuyers” are looking for the government to bail them out. If I could pay rent for not being stupid enough to buy at bubble prices let them live under a bridge. Trust me there are plenty of buyers waiting to buy they are just waiting for prices to come down another 500-600 percent
It’s so cute that you think greedy speculators in New York are a new phenomenon, hannible.
As opposed to the people who threw out the Native Americans and paid a dime for New York.
The demographics of the city– aging population, additional immigration, and more NYC residents being born than dying point to an upward expansion of NYC by 1 million in the next 20 years. There is pretty much consensus on this. More housing will be needed long term, and more pressure will be placed on existing housing. All of this points to increased demand and higher rents over the long haul.
Curiosity you must be one of those homeowners or real estate agents that does not want to face reality. You are right we will all get jobs as financial brokers on Wall Street. This is a city of immigrants and families called this place home until greedy speculatures decided it was time to turn it into a turkeyshoot. I know our wonderful major said not too long ago that there is still room for another 1 million people in the next ten years. I guess we can all add inflatable mattresses in out hallways to achieve that.
People didn’t leave NYC in search of work in the Great Depression…in fact the city’s population increased by over 20% that decade.
What makes you think they’re leaving now?
And for what jobs, exactly?
You really believe 8 million some odd people live in NYC just for the jobs…?
I believe they live and move here for reasons that go far beyond just that…
curiosity: Detroit. Thosands are fleeing NYC, as we speak, to work in the burgeoning domestic auto industry. Didn’t you hear? Rent reductions of 90% by spring.
Hannible, any way for you to substantiate the BS you’re shoveling?
From the NYS department of labor, unemployment as of October 2008:
NYC–5.7%
NY State–5.7%
United States–6.5%
So, everyone’s going to leave NYC to get jobs where, exactly?
Have a little more faith 11217 six months ago most homeowners were all saying that the rents and the prices of homes and rents were going nowhere but up. People also believed the Titanic to be unsinkable. Wait and see once unemployment benefits run out most people will leave the city in serch of work. It is a mathimatical certainty.
Rents are down only slightly in the prime Brooklyn neighborhoods. About 5% or so. Same in Manhattan.
1 bedroom apartments in Manhattan were down about $60 a month…the average is still around $3100 a month for a 1 bedroom.
Rents will dip slightly, but will begin to hold steady and probably increase as housing prices decline.
There is zero precedent for rents to fall as drastically as some of you mention. In the building next to me, they were renting a 1 bedroom for 2300 and they rented it in a day. 40 people were interested and my friend who was interested didn’t get the place. This was about 2 weeks ago. A small 1 bedroom in Park Slope. I consider that high, and I don’t see prices down that much at all.