Jonathan Miller posted a neat little graph over at Curbed on Friday, which attempts to show the savings of living in Brooklyn vs. Manhattan over the past seven years. Mr. Miller acknowledges that the graph is “simplistic and fraught with problems,” but it gives an approximated view of how much buyers save by living in Brooklyn, and that saving’s relationship to the boom and bust years. Using median sales price data (of condos? co-ops? houses? all available residential sales?), Mr. Miller concludes that the peak time of Brooklyn savings relative to Manhattan was the second quarter of 2008. Again, it’s an approximation, but an interesting one. Take a look at the original article for more details.
Three Cents Worth: Manhattan to Brooklyn Value Proposition [Curbed]