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
5th Avenue in Sunset Park is 2 miles of 99cent stores one after another.
I work there but head to Pacific/Atlantic area for shopping and then go to home to BedStuy
You are talking about Sunset Heights. Sunset Heights is the top of the hill in between Sunset Park and Boro Park. Sunset Park does not have great supermarkets, but hey there are few in brooklyn. If your looking for cheap eats yet Sunset Park has them.
Tyler: Just personal taste. Sunset Park has excellent, cheap Chinese, Vietnamese, Mexican, etc. restaurants. Bay Ridge has decent restaurants, but in my experience, they’re just passable versions of cuisines or dining experiences I could get better elsewhere in Brooklyn. Likewise groceries: amenities in Bay Ridge are fine but not extraordinary, whereas in SP you at least have access to stuff like Hong Kong (Hong Keung? I forget) supermarket.
Feel free to jump on this. I just figure if I feel this way there are others who would feel the same, and they would look more favorably on SP. Then again I don’t live there, or BR.
equal-opp hater: I’ve lived in Park Slope for more than a decade. I walk or run around the neighborhood and Prospect Park every day. I have far more often had my way blocked by people without children, having conversations and obliviously walking 2 or 3 abreast, than by strollers. Very often people who see me and yet refuse to budge so that anyone has room to pass their group on the sidewalk.
It’s a pet peeve of mine. Everybody bashes stroller pushers, but I think self-centered childless people just eventually become self-centered people with babies.
There isn’t an endless supply of people with a million dollar budgets.
Gentrified neighborhoods will continue to rise slowly while less expensive areas with good transportation to Manhattan will rise more quickly. This should continue until values have leveled out. With the overall reduction in crime across Brooklyn, there is no longer a reason for safety to play such a big role in real estate prices.
I live in Boerum Hill which had startlying and rapid rise from 97-04 and seems to have leveled off (except for that house with those celebrities in it on Dean and Hoyt). Clinton Hill is just finishing its rapidd rise and now Bed Stuy, Bushwick and Victorian Flatbush are popping.
Coop prices will always be more volatile than houses because of the large fixed underlying mortgages at the co-op itself. House prices and coop prices can’t really be compared except maybe in the direction they can be expected to move.
Why don’t you take your fogged glasses off. So you would welcome a project build across the street from you if you owned a house?
Would Clinton Hill, StuyHeights, Crown Heights, Sunset Park welcome another project?
nailed the point right there…
damn those side-walk hogging strollers
“Park Slope is not the racial oasis that you paint it to be. In reality, it’s segregrated, with 4th and 5th Avenues being more working-class and Latino and the areas around 7th and 8th being white and well-to-do. As 5th Avenue continues to gentrify, this diversity will shrink even more.
I’d love to have the city announce the building of a public housing project on 7th Avenue and 3rd Street – then you’d see how tolerant Park Slope residents are of people from different backgrounds.
Posted by: Anonymous at December 28, 2005 01:12 PM”
Why would you rather buy groceries and eat out in Sunset over Bay Ridge?
To the equal opportunity hater,
What race/ethnicty/religion are you? Why don’t you encourage people to insult you. Equal means you want people to dis you. You must welcome it.
Call a black guy a nigga. He will kick you ass.
Call a jewish guy a jewdigger. He will kick you in your nuts.
Call an Italian a goomba or a guido. He will beat the shit out of you with the bat he has in his car.
Call a latino a spic. He will stab you in your throat.