Open House Picks
Brooklyn Heights 165 Columbia Heights Halstead Archive! Sunday 1-4 $5,500,000 GMAP P*Shark Park Slope 189 6th Avenue Century 21 Sunday 11-12:30 $1,895,000 GMAP P*Shark Clinton Hill 22 Clifton Place Brown Harris Stevens Archive! Sunday 11-1 $1,790,000 GMAP P*Shark Prospect Park South 169 Stratford Road Mary Kay Gallagher Archive! Sunday 1-3 $1,260,000 GMAP P*Shark
Brooklyn Heights
165 Columbia Heights
Halstead Archive!
Sunday 1-4
$5,500,000
GMAP P*Shark
Park Slope
189 6th Avenue
Century 21
Sunday 11-12:30
$1,895,000
GMAP P*Shark
Clinton Hill
22 Clifton Place
Brown Harris Stevens Archive!
Sunday 11-1
$1,790,000
GMAP P*Shark
Prospect Park South
169 Stratford Road
Mary Kay Gallagher Archive!
Sunday 1-3
$1,260,000
GMAP P*Shark
6th Ave house in Park Slope has been on the market for a long time. It originally started at $2.2 million, and the listing NEVER mentioned it was an SRO, until now.
“bxgrl is an idiot” 10 pathetic posts and your pathology becomes more apparent with everyone. What are you going to do when your mother comes down to your basement room and sees you online again using foul language?
Sky definitely isn’t falling and no one is dying, unless they’ve joined the army and been sent to Iraq. But the asset bubble is deflating all around us.
No rational rental investor would buy any of these houses for more than 1/2 the asking prices. Arbitrage guarantees that in the long run, rental values and purchase values will be about the same. Otherwise, rental landlords sell to owner occupants.
So, unless you think rents are doubling in the middle of a severe cutback in NYC’s core job-generating sectors, you have to believe that prices are dropping, probably by close to 50% off the just-hit peak. That’s assuming they don’t overshoot on the way down. (Last time, in the early 90’s, prices dropped by half after inflation even though they were only about a third over rental values at the peak).
The coming price declines will be an excellent thing for the City and almost everyone living here. But they make this a very bad time to buy an overpriced house.
“what a sad life you must have. Really sad. You hate yourself way more than anyone else.”
– Biff
Funny. I have often thought that about you. We’re like fish in a barrel. 🙂
yes, so many immigrants moving to brownstone brooklyn and buying up/renting expensive real estate. why, i just ran into a lovely couple who just fled the oppression of their native country of ohio.
been reading on here for a couple of weeks and finally decided to register so I could comment.
Freddie Mac/Fannie Mae are fine. Shareholders will probably take a bath, but that’s not very different from when the Auto/Airline/Banking industries went belly up before.
BK real estate seems to be propped up just because of where it is alone. When houses in Newark, or East Orange started rising people decided that if they were going to pay New York prices, they should get a New York home.
I think it’s moot to try to forecast what will/won’t happen because none of us are close enough to guess right, and even broken clocks are right twice. I hope that we’re able to build meaningful conversations here.
I’d hate for this site to get driven to the ground like a lot of the sites I used to visit.
4:20 and 3:56 sound like brokers/sellers in denial. I’m certainly not saying things are exploding, but markets are cyclical, like the stock market shows, and the history of the real estate market shows. Sometimes things go up a lot, sometimes they go down a lot. Over time, both things happen, sometimes more gently, sometimes more severe. It seems that there are a number of arguments to support the NYC real estate market not crashing hard (as in rest of country), but to deny that any downturn is possible, when there is evidence of it starting, seems silly, and if one is a buyer, why would one not pay attention to that and bide one’s time?
all of this ‘end of the world’ stuff is idiotic and the ‘what’ character on here is ridiculous- not to mention ‘rolling on the floor laughing…’- who are you to be so glib? all these people in foreclosure- you’re sick. and besides, markets don’t explode (sorry, only down 128 on the day)- you sound like someone who plays the lottery.
3:58, sure, if you want to come up with another identity to prove you’re obsessed with stalking people here and have no other purpose, go for it. But what a sad life you must have. Really sad. You hate yourself way more than anyone else.