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
long – nyc
short – outside of nyc
There really isn’t a need to drag this out you could just make an effort not to do it again.
In reality neighborhoods are composed of the buildings and people who live in them. If you don’t like an area because of crime, aesthetics, distance or cost share your opinions.
When you don’t like an entire group of people because of your own prejudice keep your opinion to yourself and out of a real estate blog.
All of my friends are different races, ethnicities and religions. We find a way to respect each other and dispel our own prejudices.
All of my friends know how to spell multicultural.
To anonymous PC police: you probably think you are very multi-culteral, yet know very few people who think differently from you.
That ultra PC anonymous poster is annoying, can we talk about the issue and not have the PC police, we are not politicians here.
Overall i think the market will not have the same increase as we have just experienced.
I think areas like the Gowanus, Atlantic Yards, and south of Park Slope have held Park Slope and Prospect Heights from reaching their full potential. There still is rooom for further growth.
New developmant and increased attention in the border areas will help improve the established areas.
Oh, and I second the poster above who was long on Red Hook (where I do not live, btw). I’m not sure any nabe in Brooklyn will go up much, if at all, in 2006. But RH at least has concrete upcoming amenities improvements, as opposed to wishful thinking. (No, its transportation situation is not going to improve, but no neighborhood’s transportation situation is going to change, so additions like IKEA at least increase its appeal relative to other nabes.)
adam, keep on digging your hole.
It seems people only see their own neighborhood as an area that will improve.
Park Slope is 100% played out. If you bought there in 2004 or 2005 you will never see your money again.