Buyers Sweet on Slope, Bay Ridge, and Bed-Stuy
People searching for Brooklyn homes on the Real Estate Board of New York’s ResidentialNYC web portal are most likely to look for properties in Park Slope, Bay Ridge or Bedford-Stuyvesant, according to an article in this morning’s Eagle. The Slope is Brooklyn’s most searched-for neighborhood, followed by Bay RIdge and Bed-Stuy. According to data collected…
People searching for Brooklyn homes on the Real Estate Board of New York’s ResidentialNYC web portal are most likely to look for properties in Park Slope, Bay Ridge or Bedford-Stuyvesant, according to an article in this morning’s Eagle. The Slope is Brooklyn’s most searched-for neighborhood, followed by Bay RIdge and Bed-Stuy. According to data collected on ResidentialNYC, the Brooklyn sales market isn’t exactly flagging. Average prices for co-ops and condos increased 11 percent (to $501,000) from January ’07 to January ’08. Average prices for all home types increased a far more modest 2 percent, year-over-year, to $587,000. “Despite a national real estate slowdown, the Brooklyn market continues to show some signs of growth with apartment prices increasing 11 percent throughout the borough, said REBNY Prez Steven Spinola.
Park Slope, Bay Ridge, Bed-Stuy Named ‘Hottest’ Nabes [Brooklyn Eagle]
Slope photo by wallyg; Bay Ridge photo by gmpicket; Bed-Stuy photo by ultraclay.
2:52
Theres an Internet trick…any time you see more than a paragraph in a foum its almost always cut and pasted and passed off as original. I always cut and paste a sentence into Google and voila!
2:17 You are a true asshole.
Here’s a link to 2:17’s added wisdom (see Conclusion). Thanks for your originality:
http://www.aei.org/publications/pubID.27713,filter.all/pub_detail.asp
1:33 please save your energy. The masses believe everything is OK and pointing out facts won’t convince them otherwise. The people that understand the dynamics of a Mutant Asset Bubble will not be surprised when it crashes. 1:33 you have to understand the dynamics of Disconnect of reality. The people will ignore all facts to justify their cause. 4.00 Gas, high food prices and other bubble mechanics will not stop until it’s too late. America is in serious trouble.
The What
Someday this war is gonna end….
Hey Denton, keep buying up your stocks and real estate and talk to me in a couple of months. We’ll see who is laughing, idiot!! Here is a little added wisdom:
The cycle of denial, hope, and panic that has caused stock prices, interest rates, commodity prices, and exchange rates to oscillate more and more widely since the onset of the credit crisis in August 2007 and that was followed by the wide recognition of a U.S. recession in March 2008 will continue. The Fed’s dramatic moves on March 16 to prevent an outright failure of Bear Stearns and to offer unprecedented open credit lines to investment banks triggered a frantic rally in shares of investment banks. The price of Goldman Sachs shares rose from a low of $140 on March 17 to $175 on March 18. This 18 percent increase was aided by the Fed’s 75-basis-point rate cut on March 18. Simultaneously, shares of Lehman Brothers more than doubled from $20 to $45 a share, while shares of Bear Stearns more than tripled from $2 to $6 a share, having been as high as $65 per share on March 14, just after the Fed announced it would take what was then the unprecedented step of lending to Bear Stearns. After Bear’s stock subsequently collapsed, despite the Fed’s March 14 effort, the more radical step of offering to lend directly to all investment banks was taken on March 16 in an effort to stem a panic in Asian markets.
The pattern of market panic and reaction by the Fed to save the day, at least for a short time, has been repeated over and over again and with rapidly increasing frequency since last August. By the end of the day on March 19, stocks had already reversed their sharp rally of the day before. Then they turned up again on March 20, but without establishing any new trend. The frequency of Fed reactive moves to stem panic has reached an alarming pace since March 7, the day a weaker-than-expected employment report signaled recession to all. Special measures were undertaken on March 7, 11, 14, and 16, followed by the 75-basis-point cut of the fed funds rate after the Open Market Committee’s regular March 18 meeting. If the pattern in place since August persists, a sharp stock market rally and reduced stresses on credit markets will signal hope that the worst is behind us, until a worse-than-expected economic number or rumored trouble at another financial institution brings back panic and moves us another step toward monetization by the Fed.
There is really no way to tell which particular Fed move or legislative action will end–or at least contain–the adverse feedback loop from weaker credit to weak economy and back to weaker credit. Until there is some realistic hope that house prices will stop falling while the extent of credit losses is known, it is difficult to see an end to the rising volatility in markets tied to ever-widening cycles of denial, hope, and panic.
yeah, this is really useful fluff. just tried a search on that site (which i have never used before). besides being really user unfriendly, the only options for brooklyn are: park slope, bay ridge, bed-stuy, sheepshead bay, and prospect heights. wow. shocker. the first 3 on the list are the top hits out of 5 choices.
1:42. i “sited” facts. case-schiller, miller samuel piece. you look them up. if you prefer to base your “facts” on REBNY, be my guest.
now, your homework assignment is to brush up your resume (hint: use spellcheck). i hear tgif is hiring bartenders. but you must have experience…
1:33: You didn’t site one fact that contradicts the story. You are just full of hot air and dancing around the issue until you can quote facts.
Now go troll the web and find some and we can discuss. Yes, that is your homework assignment. Let’s hope you don’t fail again.
Thanks 9:48.
You do see that the Dow is up over 300 right now? Dumb investors, why don’t they know what you do? C and JPM are up around 10%.
Class warfare. Yeah right. Poor people are too busy shopping at WalMart to even think about it.
really 1:18? do you understand what facts are? first, median: look it up. prices quoted in the media are basically an objective reality at this point because almost all the stats come from the brokers. see case-schiller, see that miller samuel piece where even the brokers admit prices are coming down in NYC, not just the metro area. facts. my personal observation is that brokers are pricing off 07 comps and are frequently cutting from there. why? because those comps are unrealistic in today’s market. i have been to many open houses where the whisper word is “flexible”.
facts: 34k+ wall street layoffs so far w/ more in the hopper, bonuses down in 07 and moreso in 08. m&a volume at historic lows. bear stearns with 14k potential added to the mix. markets in shambles, hedge funds having worst month since 1998, some imploding. banks tightening lending standards across the board. consumer confidence at historic lows. how many facts do you need? i didn’t make this stuff up and it is not skewed by questionable inputs. now if you choose to believe that my list will have no impact, keep lying to yourself. but i call it like i see it. will people stop buying? no, if the price is right. but trying to suggest that the last 5 years are indicative of the next 5 in the current economic environment just sounds plain silly.