Open House Picks

the one primary difference between this possible recession and the last one is that people are disgusted with the suburbs at this point.

not the physical burbs themselves, but everything they stand for.

in the circle of people i am friendly with, moving to the suburbs is settling. settling for an existence that is not challenging, that does not support the environment and does not support the personal growth as a human being.

in the last 10 years, the city has made a huge comeback.

all across the world, people are craving more urban environments and want to connect with people easier. you can even see it in the burbs…how many “urban style” shopping malls have popped up in the last 5 years. they are yearning for more connection to people.

it has to do with the age of the internet.

as we become more computer oriented, living in close urban environments gives us the sense of community that has been lost by our new way of life with computers.

i don’t believe this is a fad. i believe to some extent, the suburb is dying.

close-in suburbs…the more urban ones will see a revivial in the next 20 years as people no longer want to drive long distances, spend half their pay on gas just to get a 4000 sf mcmansion out in the middle of nowheresville.

I think that if the new crop of young singles that then remain in the city as young famililies cannot afford the city (either to buy or rent) because of sustained high prices or decrease in higher paying jobs because of mess in the financial sector spilling over to other industries too, then you’ll see less gentrication in the fringe areas as the children of the “pioneers” during the good times would have moved on. If there is less of an influx, then less demand for services, amenities stalling the gentrification of “fringe” areas.

Prime areas: Cobble Hill, Park Slope, and yes Carroll Gardens have matured to a point where I personally don’t see drastic reversal possibly unless severe recession/depression but then this would affect suburban areas too. Brooklyn Heights limited housing stock is so prime that it remains above all others in most market conditions. It has old money, new money – sort of like Greenwich pocket. There are long time locals in rent stablized but it always has been this way – while balance shifts a bit due to development, it is still the situation.

agreed, 11:59.

and lowering home prices are only going to entice MORE people to stay in the city who would have gone to the burbs (where taxes are SKYROCKETING IN NJ) so as long as we see the city continue to stay safe, it will be an attractive place to live.

i can only HOPE to stay in my comfy little apt. i bought last year. my mortgage is doable…i’ve got a years worth of mortgage payments in savings (thank you co-op rules…forced me to SAVE!) and if i’m here 5 or 10 years, i couldn’t be more happy.

no more increasing rent for me!

and in 29 more years, when everyone in nyc is paying 8000 a month for a studio, i’ll be paying a few hundred bucks in maintence cost, should i choose to stay here forever!!!

To the doom & gloomers: there are those who hoped to sell at a profit within the next couple years, and there are those (like us) who bought a long term home when they bought a house. Why do you think the concerns and the outcome are the same for BOTH groups? Because they’re not. Sorry. The only people you are managing to get in a panic are the flippers. Even the whole “prime” neighborhood vs. “fringe” neighborhood obsession, that only concerns the flippers too. The only thing that would slow the gentrification of “fringe” areas is if there is a huge wave of people fleeing to the suburbs instead of committing to staying in NYC. How many of you are moving to New Jersey? Right. Didn’t think so.