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
12.57,
Even if you theoretically had a ton of cash to burn, wouldn’t you think there’s a trillion better opportunities out there? Just because you have a lot doesn’t necessarly mean you *want* to lose it.
long: NOK, TWX, OPSW, PFE, MSFT (conservative).
c.
long: buying someplace to, like, actually live.
short: buying to speculate, unless you have a lot of $$ to burn.
Anon, 9.22pm,
The Queen Mary and Carnival Cruise lines are going to make Red Hook “remarkable”? Ha — sounds more like a living hell to me.
As for Fort Greene being overpriced, I guess this confirms it: http://newyork.craigslist.org/brk/rfs/119708220.html
I guess for $2.2m, you don’t even get a spellcheck.
God bless the bubble…
Long: Equities, Poker.
Short: Real estate.
I meant ixnay. Need to brush up the pig latin.
9:49, Ixany on the arkingpay in Bed Stuy!!!
Long on Red Hook, Bed Stuy and Coney Island.
Short on far South Slope, Greenwood.
Central Slope, Caroll Gardens, Boerum Hill…they’re already overpriced. Don’t think they’ll go any higher.
Long: Crown Heights, Sunset Park, Bed Stuy east of Marcus Garvey.
Short: Clinton Hill, Park Slope south of 5th, Brooklyn Heights, Red Hook.
There will always be a contingent of people looking for more space, which Brooklyn still provides.
Rationale for neighbohoods long: many older homeowners are retiring and moving South, leaving beautiful and brownstones with details for the renovation.
long on stuy heights area of Bedsty between the A train stops of Nostrand and Utica. People will come to grips with the fact the Fort Green and Clinton Hill are just too darn expensive for them and look at the next best thing. Plus I hear you can still park your car there!(for now)
Long on Dumbo cause Manhattan money doesn’t mind buying there
Long on Bushick area along the L line as hipsters keep moving farther out
Short on boerum hill at the very high end, like the one family “State Street Houses” that corcoran has marketing for way above two million.
Hold on the rest of Brownstone Brooklyn
I am sying red hook is going to go up a good amount in the coming years due to the , development that is going into the area. The Ikea , Queen mary, Carnival cruise lines and waterfront that will be developed will make it a remarkable area. Red hook has the housing projects to deal with, but so does Dumbo ! Also Dumbo has a Power plant and high cancer rates. be careful wherever you buy
I am sying red hook is going to go up a good amount in the coming years due to the , development that is going into the area. The Ikea , Queen mary, Carnival cruise lines and waterfront that will be developed will make it a remarkable area. Red hook has the housing projects to deal with, but so does Dumbo ! Also Dumbo has a Power plant and high cancer rates. be careful wherever you buy