Open House Picks
Carroll Gardens 391 Union Street Halstead Sunday 1-3 $2,200,000 GMAP P*Shark Prospect Lefferts Gardens 66 Midwood Street Corcoran Sunday 12-1:30 $1,400,000 GMAP P*Shark Windsor Terrace 619 Greenwood Avenue Warren Lewis Sunday 12-2 $985,000 GMAP P*Shark Bedford Stuyvesant 305 Stuyvesant Avenue Corcoran Sunday 2-3 $695,000 GMAP P*Shark
Carroll Gardens
391 Union Street
Halstead
Sunday 1-3
$2,200,000
GMAP P*Shark
Prospect Lefferts Gardens
66 Midwood Street
Corcoran
Sunday 12-1:30
$1,400,000
GMAP P*Shark
Windsor Terrace
619 Greenwood Avenue
Warren Lewis
Sunday 12-2
$985,000
GMAP P*Shark
Bedford Stuyvesant
305 Stuyvesant Avenue
Corcoran
Sunday 2-3
$695,000
GMAP P*Shark
I LOVE the city but I don’t see a complete reversal unfortunately. I think that there will also be a trend towards rural communities that mimic certain city qualities without the large bureaucratic tendencies and social problems. I think that as technology continues to progress, more people will work from home therefore commuting is not as a big a deal. There a big tax advantage to doing so and savings on expenses. On the sturdiest people can weather an inner city “fringe” neighborhood during economic downtimes. Lost tax revenues do not translate well to social services and city education. As companies need to cost cut and as technology allows, working from home will also be a trend in my view. The city will live but not 100% reversal – this is too extreme in my view.
The ONLY other place I’d move in the U.S. if I left NYC would be Portland, Oregon.
Do you have any idea how difficult it is to find a job in Portland, though???
12:45 is correct.
The suburbs are becoming a place for those that can’t afford cities. Not as destinations in and of themselves. So basically they are the decaying cities of the 1960’s.
You only moved to Baltimore City in 1960 if you couldn’t afford the newly affluent suburbs.
Now the opposite is happening in most cities. Even Baltimore…a city with its share of problems, has seen more home price appreciation than ANY of its neighboring suburbs have.
Regarding the city vs. suburbs discussion, if I were forced to choose anywhere else but NYC to live, I would move to downtown Chicago, downtown Seattle, downtown San Francisco way way way before I’d ever move to the suburbs in NJ, LI CT or upstate. Every single person I know says the same thing. Everything I witness and read and know supports the fact people will move to another URBAN area entirely before they move to the suburbs of New York.
Translation = the great majority are sticking it out in the good ole Big Apple. As for the threat of fewer jobs in NYC, if there are fewer jobs here there will be NO jobs elsewhere so there won’t be many people leaving NYC for jobs.
NEW JERSEY IS BANKRUPT. THAT’S WHY!
12:37….you might be correct about that, but we all know blacks in general are not up to the same level in terms of wealth building and income or education levels as their white counterparts.
so they are searching for the same “better life” that many whites went to look for in the suburbs 20 and 30 years ago. they are a little behind and always have been. i’m not saying that in a racist way because i think it’s white people who have “helped” keep them behind.
i do believe there will come a time that things will reverse almost completely….
it used to be cities in the u.s. were predominently black and the burbs were white. i’m talking 60’s-90’s.
i think in another 20 years, it will be the opposite.
But the prices are not too high in the fringe areas for educated white professionals, 12:35. The prices are 1/3 the cost to buy a house in blue chip neighborhoods. So it’s really about whether those young white professionals would rather buy in a fringe area, or buy in New Jersey. And they are NOT choosing New Jersey.
12:35…
what you aren’t taking into account is that things are much WORSE outside of NYC.
who wants to go live in phoenix now, or la, or atlanta, or san diego or florida or even boston???
prices there have dropped so dramatically, the local economies are reeling and no one knows when things will get better.
i feel a lot better about being in the country’s one true world capital than anywhere else right now, that’s for darn sure.
BTW, just to point it out, even when we read these stats which state this new migration is about race, I disagree, I think it’s about differences happening in perception of good quality of life. For a greater number of the black families leaving NYC, they can have a larger house and yard and be near family. Which are things they value more than the white families who want to live in the urban city, who now prioritize other things. There’s a suburbs type person and a city type person, and more and more black families are finding they value the suburban life. It’s inaccurate that some who write about this migration are making it about race or economics, IMO.
I didn’t say that this is happening or would. I said that if prices don’t come down LESS young families stay in the city, and that this would stall gentrification of fringe areas. If job opportunities and incomes aren’t there and are coupled with prices that are still too high, the fringe areas get hit first. Sort of like a lower quality loan in a Collateralized Debt Obligation. Current buyers should be careful – especially if they are committing their long hard earned dollars or inheritance.