Market Predictions for 2006: Neighborhood Picks
In what is now becoming an annual tradition, we invite you to share your thoughts and predictions for the Brooklyn housing market in 2006. Like last year, we’re particularly curious to hear your neighborhood “longs” and “shorts”. On a risk-adjusted basis, we’re most bullish on Prospect Heights and Carroll Gardens and, relatively speaking, would bet…
In what is now becoming an annual tradition, we invite you to share your thoughts and predictions for the Brooklyn housing market in 2006. Like last year, we’re particularly curious to hear your neighborhood “longs” and “shorts”. On a risk-adjusted basis, we’re most bullish on Prospect Heights and Carroll Gardens and, relatively speaking, would bet against Williamsburg. Overall, though, we don’t think 2006 will look at all like 2005, which was marked by huge surges in prices in some rapidly gentrifying neighborhoods. From where we sit, 2006 is looking like a year for the market to take a breath and digest all the rapid-fire changes that have occurred in recent years. Barring a big move upward in rates, we think prices will more-or-less move sideways. In our own little corner of Brooklyn, the big test will be whether the upscaling of Fulton Street can extend beyond Fort Greene. Man, could we use a gourmet market in Clinton Hill! Anyway, that’s how we see it. But what do we know. We’d rather hear from you.
Happy New Year.
Brownstoner
An earlier poster mentioned that he was black and had experienced problems being taken seriously as a potential buyer in Sunset Park. If that guy reads this posting, I hope you don’t let anybody stop you from investing anywhere you want.
I’m white, and there’s no question if I were black I’d feel more comfortable investing in black dominated areas. But the truth is, if you don’t have millions to invest, in the NYC metro area, black and mostly hispanic dominated areas are really the only affordable places left.
Did anybody see the latest Massey Knakal mailing? It features a large photo of one of the rich dudes who own the firm with his arm over the shoulder of a black agent. I only mention this because it’s interesting how race plays such a large part in the NYC real estate market. It reminded me of a photo from a fancy boarding school advertisement. Everyone knows there are only a few minorities at the school, but the brochure makes it look like a New York City subway.
Ditmas Park is about to come into its own. I walked around there last weekend. Incredible homes and spectacular values relative to Park Slope and other areas. Good schools as well. Just watch…Ditmas is going to take off like a rocket.
Sunset Parks off the chain. All youll people are just jealous.
“Park Slope is a special place where interracial families, gay couples, black, white, asian and hispanic can all live together without feeling unwanted.”
I’m sorry all I can do is laugh out loud at this and I lived in Park Slope for 7 years.
People of the past, fear not! New York will continue to need a certain number of low-income renters for food delivery, cleaning, child care, working at nonprofit organizations and so forth. By 2009, the requisite number will have been relocated to “homelands” in underutilized areas of the outer boroughs, where they will able to enter and leave to their jobs by showing ID at checkpoints. Accommodations will be a little snug, but the price will be right! The excess will be free to pursue other opportunities elsewhere in the country, or, language abilities permitting, in Latin America. Everything will be fine, you’ll see.
What’s with people calling Clinton Hill Clinton Hills?
Whats with people in BedStuy saying they live in Clinton Hills?
If every area becomes more expensive where do renters go who cannot afford the high rents.
Fort Greene to Clinton Hill into Bed Stuy.
But then where? Philadelphia? East New York?
Clinton Hill with a C train on Fulton street and plenty of stores to be changed …….I think is going to be interesting.
What you think it will happen on that strech between Vanderbilt and Grand in the next few year?