Furman Center Tracks Brooklyn Market
The Furman Center at NYU has just given birth to another one of its detailed studies about New York City, and it’s got lots of info in it about how the Borough of Brooklyn fared during the last decade. More specifically, the report looks at population and housing data between 2000 and 2008. During that…
The Furman Center at NYU has just given birth to another one of its detailed studies about New York City, and it’s got lots of info in it about how the Borough of Brooklyn fared during the last decade. More specifically, the report looks at population and housing data between 2000 and 2008. During that period, unemployment decreased from 10.7 percent to 7.2 percent. There was a decline in the poverty rate and a rise in median household income over the same period. “Housing sale prices peaked later in Brooklyn than in three of the other boroughs, but by 2009, price declines from their peak were comparable to the City as a whole,” says the report. “Home purchase and refinance mortgage borrowing rates decreased from 2007 to 2008. Foreclosure filings have increased dramatically since 2007, with nearly 7,000 notices of foreclosure filed in 2009.” As for demographics, Brooklyn continues to have the largest black population of any borough, with 33 percent of residents identifying as black, but Brooklyn was also one of only two boroughs to experience a rise in white population since 2000.
Brooklyn Market Report 2000-2008 [Furman Center]
Dissecting the Real Estate Boom [Curbed]
“until we all got greedy and entitled and a bunch of radical fanatics continued to wage war against us ” —
uh, until? I think the greediness and entitlement started with the tax cuts that laid the groundwork for what we are paying for now. And the radical fanatics, in my opinion are the AEI and Federalist Society.
Yeah, things improved during the Bush years, but it doesn’t say they improved *because* of Bush. Stop being such a Republican cheerleader.
Posted by: JIPS at March 26, 2010 10:38 AM
…oh sorry,
Allow me to rephrase that,
things improved from the across the board tax cuts implemented when Reagan took over and continued to improve during the Clinton years with a Contract with America and continued during the Bush years with further tax cuts until we all got greedy and entitled and a bunch of radical fanatics continued to wage war against us and then the shit hit the fan.
…so stop being such a knee jerk reactionary,
you betcha! 😉
oops, I made mistake…now I see that figure for 2 to 4 family is price per Unit in the bldg….sorry.
“Things improved” because of a variety of factors, from greater stock-market wealth to more effective crime-fighting to changing attitudes about urban dwelling to the rising prominence of the Internet and small businesses in the borough. Any improvement can’t be linked solely to one factor, and in fact all impact one another.
Wow, lead blood levels have dropped dramatically in the last decade, 80% in some CB’s.
17,793,126
Things improved in those years because of the wealth effect from the stock market. Then the shit hit the fan and things fell off. Now, with the market up 71% from last March, things are improving again…predictable, expected cycles.
Yeah, things improved during the Bush years, but it doesn’t say they improved *because* of Bush. Stop being such a Republican cheerleader.
Flatlands/Canarsie is second only to Park Slope/Carroll Gardens (and ahead of Fort Green/Brooklyn Heights) in median household income. Interesting.
did I read that right that Slope/Gardens median 2-4 family house in 2009 under 500k? yes, doubled since 2000–sounds right….
But could someone show me a few of those 2-4 family in that area for that price please?
I guess that is why always have to question stats, data, etc.
Also – looking over figures on # of housing units/changes–
with all the talk of so much (over)development past decade—numbers don’t look all that impressive.