houseNote: We’re moving this post up from yesterday to encourage more input.Welcome to the third annual installment of our market prognostications. Last year, we picked Prospect Heights and Carroll Gardens to outperform and Williamsburg to slump, which in retrospect look like pretty good calls. As for next year, our eyes will be on the areas bordering Prospect Park that have the location and housing stock on their sides but have yet to attract widespread interest from the gentrifying crowd. We’d also be front-running the newly Brooklyn-focused Landmarks Preservation Commission by looking in spots like the soon-to-be-designated Crown Heights North. On the downside, it’s hard to see how increasing supply of run-of-the-mill condos coming on line in Williamsburg won’t continue to put downward pressure on prices. We’re not as wary about the effect of Atlantic Yards on surrounding real estate as some and continue to think that Prospect Heights has a lot to offer. As has been mentioned before, quality brownstones should continue to find buyers while those in more marginal neighborhoods and lacking architectural detail will likely have a tough time. Looking back on last year’s post, we can be thankful that we got our wish of a gourmet market (sorta) in the form of Choice. Now if we could just get a friggin’ cheese shop we’d be really psyched.
Market Predictions for 2006 [Brownstoner]


What's Your Take? Leave a Comment

Leave a Reply

  1. W O W.

    I will say this (even though it’ll be frowned upon on this site because it makes y’all feel that good ol’ white/bourgeouis guilt):

    I am truly FASCINATED that some of the folks complaining about being treated like “second class citizens” by mothers pushing strollers are the *same* folks who have NO problems pushing low-income, non-white people out of communities they’ve lived in for decades, then frowning upon them as they walk through the streets they were born and raised on, and then erase all traces of their existence, so that NYC can have yet another over-priced boutique/furniture shop/fusion restaurant/yoga studio…

    On behalf of those mothers, I am so sorry you were displaced on the sidewalk and nearly stepped in poodle shit because you were making way for their Maclarens. I hope you all can find it in your hearts to apologize to the people you’ve displaced as well.

    – BB

  2. Michael,

    Welcome to the ‘Hood. You’ve definitely made a good investment. The demographics of DP are very odd. “Middle class” (Blacks) families rent apartments in the nicer apartment buildings in DP. The “Working Poor” (Mexicans, Pakistanis and other immigrants) rent in the tenement buildings. The more affluent (white) families own million dollar homes. There isn’t much interaction between the groups.

  3. Now, I’m just buying a place in Ditmas Park, so I’m thrilled so many people think it’s a good investment. And we’ve long loved the neighborhood.

    But, really, I wonder sometimes at the economics of this board: Many people think it hasn’t happened out there yet? With virtually every house selling at $1 million and up?

    Don’t get me wrong. Love area, love that people love area. And I love the diversity of that area. But we’re at a weird place in the city’s evolution that we all think a neighborhood of $1 million homes passes for a middle class ‘hood these days.

  4. That’s the spirit, 3:34! If you’re his landlord, you can drill a little peephole. Then you can watch him bang the living daylights out of your daughter.

    I like you, man. You’re kinky.

  5. Thats because yuppies believe everyone who is not a yuppie is poor and uneducated. That they are not worthy of respect. That somehow the house they own is better than the house I own. But I console myself with the fact that I don’t have a mortgage payment to srape together and an illegal nanny to under pay and abuse.

1 2 3 4 5 36