Rental Prices Continue to Fall in 3rd Quarter
Life’s gotten a little easier for the renting crowd, according to a new report from Brownstone Homes (a firm we’ll admit to never having heard of). In the third quarter, which is the period of biggest turnover, more than half of new leases in Brownstone Brooklyn were done at lower prices than the preceding period….
Life’s gotten a little easier for the renting crowd, according to a new report from Brownstone Homes (a firm we’ll admit to never having heard of). In the third quarter, which is the period of biggest turnover, more than half of new leases in Brownstone Brooklyn were done at lower prices than the preceding period. In Brooklyn Heights and Park Slope, the reductions were as much as 15 percent. Not surprisingly, apartments are sitting on the market longer, resulting in a correspondingly higher overall vacancy rate. All fine and good, but we’d like to know something about the number of data points.
Brooklyn Rents Down, Apartment Vacancies Up [Brooklyn Eagle]
Leases Up, Rents Still Down in Brooklyn [Curbed]
I pretty much agree with every one of FSRG’s comments on this thread.
I know, benson. But do mayoral candidates usually get a jamboree from the Commander in Chief? The Bloomy controlled media had a field day with that one.
Scare tactics, fsrq. A fucked up economy is already in the cards. Even if Bloomie wins, you’ll see. This uptopic NYC was the result of Ponzi Finance and is now collapsing. The dream is over.
***Bill Thompson for Mayor***
At least the democracy-usurping oligarch knows how to manage the city. Thompson couldn’t even manage the school board.
We are damn lucky that he can run again at this point in the economy.
“Thompson may be a hack, but that’s better than a democracy-usurping oligarch.”
Such a silly argument – while I am not a fan of how BB got rid of (anti-democratic) term-limits; the reality is that had he not, there would have be ZERO viable Republican candidates and therefore the primary=general election; so effectively, by eliminating term limits BB has given voters more choice not less (therefore pro-democratic).
And no matter, even if I bought the faux argument – I’d rather my family lives in a well managed, relatively safe city, then in a corrupt, ill-managed unsafe one.
When NY was at its worst 3-4X (in outer boros) was common – and with no cash down (take my building please….)
10x GRM is frankly still too high, you cant make any money on that! 8x or less and then we are talking about a decent immediate return.
Thompson may be a hack, but that’s better than a democracy-usurping oligarch.
I really hate cutting and pasting, but here is an article from a few months ago that has some data:
http://tinyurl.com/yj4hfma
According to this article, as of now, more loans are being extended, rather than defaults issued.
“EVERYBODY??? ROTFLMMFAO”
Sorry. Just you baby boy! You’re all alone – just like in your “Hedge Fund”. DIBS = Daytrader in bed stuy.
“massive deflation of NYC RE (i.e. NYC being relatively less desirable)”
Deflation and then hyperinflation is in the cards whether Bloomberg or Thompson is running the city, fsrq. The Feds and Obama administration are trying to avoid the inevitable default of debt and bank failures to no avail. Eventually the simulus money will hyperinflate. I respect Bloomberg but his arrogance with term limits pissed me off, fsrq. I have yet to see a list of reasons why Bill Thompson can’t successfully run this city. And don’t regurgitate what Bloomberg said during the debate.
***Bill Thompson for Mayor***
“If Thompson is elected I give it 2yrs before the wheels come totally off the bus….then people will be rudely and clearly reminded why they are called the ‘bad old days’ in NYC”
Yeah, but at least we’ll be back to 10x GRM’s, which will make BHO happy.