Overpricing Not Working in Carroll Gardens
“What the heck is going on in Carroll Gardens?” we asked back in January. Our question was prompted by a rash of ridiculously priced townhouses in the area. Well, since then, three out of the four houses we looked at that day woke up to reality and one is still clinging to its delusions of…
“What the heck is going on in Carroll Gardens?” we asked back in January. Our question was prompted by a rash of ridiculously priced townhouses in the area. Well, since then, three out of the four houses we looked at that day woke up to reality and one is still clinging to its delusions of grandeur. 329 President has since been reduced by $605,000 and 78 3rd Place by $795,000; 44 1st Place, the nicest and biggest of the batch, appears to be off the market.
What the Heck Is Going On in CG? [Brownstoner] GMAP
HOTD: 40 2nd Place [Brownstoner]
HOTD: 78 3rd Place [Brownstoner]
HOTD: 44 1st Place [Brownstoner]
when i say can’t afford, i mean can’t justify
i love how when bonuses were good the past few years, it was a boon to brownstone brooklyn as more and more streeters move in, pushing expectations ever higher. now, when layoffs are setting in, they all live in CT or NJ and have absolutely no effect. which is it? btw, i am a streeter and i rent in ps. can’t afford to buy there…
Most business owners would fire the renter. Then discuss new tile ideas for the kitchen/ bath with home owner.
Sucessful business owners do not rent unless they suck at business or just work in the city and live elsewhere.
WHO in their right mind thinks that what is happening will not effect brooklyn real estate? I feel like I’m reading the rants of people locked in some kind of delusional state. Our economy is imploding, and I for one – who made money in a real estate transaction in the 2001-2006 bubble and then laid it down for a house in brooklyn last year – am feeling very very traumatized. Granted, I did NOT think I was making some kind of investment with huge returns, and thank god! bought a mild fixer upper in a great location and NOT a condo OR something in a fringe area, but still – things are looking very grim. those who are still bullish and smug must be people who bought many years ago or simply not following the economic news at all.
2:29 you are truly an idiot.
who would you rather be –
a renter who lost his job and at best can handle the manageable monthly rent (probably out of the savings they didn’t sink into the down payment on a new home)while he/she looks for another job or at worst can walk away from a lease and lose deposit or pay a break up fee to move to a more affordable place
or an owner who stretched to buy and has a large mortgage (and depleted saving since it was sunk into the down payment)which needs to be serviced (not to mention taxes and maintenance fees etc)while he/she searches for another job or tries to sell the place.
homeownership by definition is a tighter commitment and adds friction to labor markets etc. because homeowners can’t just pick up and leave without much more significant financial consequences.
Park Slope is the Vermont of Brooklyn.
Yeah, it’s handymen and deli owners who are paying $3 million for properties in Carroll Gardens.
Sideliner Spencer, That’s 100 percent right! Think and feel Vermont. Erase Parkslope from your mind/wallet and go in peace.
7,000 employees, most of which lived in New Jersey or Connecticut.
It might hurt a tiny bit in Brownstone Brooklyn.
But the burbs are in big trouble.
Prices in the burbs are about to sink another 20% on top of the already 15% drop.
Brooklyn will do fine. As has been said many many times before, no one on Wall Street would want to live anywhere in Brooklyn besides Brooklyn Heights.