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: N.Williamsburg,Greenpoint,Red Hook,Carroll Gardens,L.I.C
Short: DUMBO,Park Slope,Brooklyn Heights
Except for the waterfron Williamsburg is over. If developers and the unexperienced brokers who fuel them with false and misleading information to expect sky high prices, buyers won’t even bother with the Williamsburg waterfront. No services, horrible transportation, loos of charm that used to make it a special place. People should remeber how long it takes to really establish a neighborhood Park Slope/Cobble Hill/Boerum Hill took something like 25 years to become an established prime neighborhood and there is still work to be done!
There is most definitely a “gourmet” shop opening on the corner of Grand and Lafayette, and I believe it will be run/owned by a French proprietor. I spoke with a man working inside the building last month, who was French, and said that the store would have a seating area in the front for coffees, nibbles, etc., and the remainder would be “gourmet” foods. I could hardly contain myself. And, Brownstoner, it’s right up the street from you! As of November, it was supposed to open in December.
Northside Willliamsburg has become an international destination,will continue to increase in value faster than most of borough
as waterfront and parks evolve.
How about a summary of last year’s posts so we can assess the collective insight of the brownstoner bloggers
Brownstoner, why are you short Williamsburg? Too many buildings in construction or something else?
LONG: Ft. Greene, Red Hook, Clinton Hill, and Bed Stuy
SHORT: Crown Heights, Prospect Heights
Long: DUMBO, Fort Greene, Southside Williamsburg and East Williamsburg, border area between Clinton Hill and Bed/Stuy, Prospect Heights, St. George Staten Island, Astoria and LIC Queens. Also long the detached houses of the whole Midwood/Flatbush area.
Short: Crown Heights, Prospect Lefferts, the parts of Bed/Stuy that yuppies are not moving into (mainly in the North East), Gowanus, and Brooklyn Heights
while we’ve seen many a rant about brownstoner’s expertise or self proclaimed lack there of, one can’t help but wonder…what exactly are brownstoner’s qualifications to comment on the nyc/brooklyn real estate market and to go so far as to make micro-market nabe predictions?