Park Slope: The Canary in the Coalmine
When we talk about the Brooklyn neighborhoods that are likely to fair best in the market downturn, blue chips like Brooklyn Heights and Park Slope are typically mentioned. But a New York Magazine article yesterday suggests that it’s all relative. While Park Slope may be holding up better than, say, Bedford Stuyvesant, it’s evidently doing…

When we talk about the Brooklyn neighborhoods that are likely to fair best in the market downturn, blue chips like Brooklyn Heights and Park Slope are typically mentioned. But a New York Magazine article yesterday suggests that it’s all relative. While Park Slope may be holding up better than, say, Bedford Stuyvesant, it’s evidently doing a whole lot worse than Tribeca, which is the article cites as the richest neighborhood in the city. As the chart, at right, shows (with data provided by Streeteasy), one-bedrooms are up 23% over the past year in Tribeca while they’re down 2% in the Slope; three-bedrooms are up 26% in Tribeca and down 14% in Park Slope. Does this suggest a relative weakening for Brooklyn as a whole versus Manhattan going forward?
Where Boom Meets Bust? [New York Magazine]
It doesn’t suggest it. It illustrates it.
“Does this suggest a relative weakening for Brooklyn as a whole versus Manhattan going forward?”
Yes. If not these data, then the downturn in the housing and credit markets and the economy overall suggests exactly that.
When the economy was improving those in ‘better’ bkln areas looking to upsize would look to ‘lesser’ bkln areas. The thought was that they couldn’t afford a house in PS to replace their PS coop, but surely bedsty would be the new park slope in 5 years. At that time those in Manhattan were buying in PS because they couldn’t afford more space in Manhattan and PS had improved.
Now that the recession is being recognized as such Manhattanites will lose faith in the presumption of improving outer borough status. Those looking to upsize within Bkln will also contract the area in which they are willing to search.
The difference is that the neighborhoods manhattanites were moving to may have already passed the tipping point at which a recession could destroy them. However, I fear that those areas of bkln that we hoped would continue to improve (bedsty, crown heights, PLG, etc) didn’t quite get there.
I agree Kuroko…
“guest” 9:24am, your scenario leaves out a few things… unfortunately when housing prices crash, usually high unemployment and city lay offs are soon to follow, money is tight, cost of living keeps rising, and even if there’s a drop in prices most of the folks you mentioned still can’t afford to buy in prime or fringe areas… they’re lucky to hold onto their jobs.
At least 95% of the posts on this site are from people who’re logged in as “guest”. This means that someone reading the comments on this site will be reading almost everything in faded type. Now, I understand why the faded type is used for “guests”. However, in my opinion it’s not worth it.
The faded type is clearly legible, but over the long haul it is more fatigue-inducing than regular, darker type. So, Mr. B, do you really want to condemn your readership to slogging through so much faded type?
Just a thought. Again, I do understand why the faded type was introduced. I just don’t think it’s worth it. You’re shooting yourself in the foot (and inducing eyestrain in your readers) as things currently stand.
At least 95% of the posts on this site are from people who’re logged in as “guest”. This means that someone reading the comments on this site will be reading almost everything in faded type. Now, I understand why the faded type is used for “guests”. However, in my opinion it’s not worth it.
The faded type is clearly legible, but over the long haul it is more fatigue-inducing than regular, darker type. So, Mr. B, do you really want to condemn your readership to slogging through so much faded type?
Just a thought. Again, I do understand why the faded type was introduced. I just don’t think it’s worth it. You’re shooting yourself in the foot (and inducing eyestrain in your readers) as things currently stand.
At least 95% of the posts on this site are from people who’re logged in as “guest”. This means that someone reading the comments on this site will be reading almost everything in faded type. Now, I understand why the faded type is used for “guests”. However, in my opinion it’s not worth it.
The faded type is clearly legible, but over the long haul it is more fatigue-inducing than regular, darker type. So, Mr. B, do you really want to condemn your readership to slogging through so much faded type?
Just a thought. Again, I do understand why the faded type was introduced. I just don’t think it’s worth it. You’re shooting yourself in the foot (and inducing eyestrain in your readers) as things currently stand.
At least 95% of the posts on this site are from people who’re logged in as “guest”. This means that someone reading the comments on this site will be reading almost everything in faded type. Now, I understand why the faded type is used for “guests”. However, in my opinion it’s not worth it.
The faded type is clearly legible, but over the long haul it is more fatigue-inducing than regular, darker type. So, Mr. B, do you really want to condemn your readership to slogging through so much faded type?
Just a thought. Again, I do understand why the faded type was introduced. I just don’t think it’s worth it. You’re shooting yourself in the foot (and inducing eyestrain in your readers) as things currently stand.
At least 95% of the posts on this site are from people who’re logged in as “guest”. This means that someone reading the comments on this site will be reading almost everything in faded type. Now, I understand why the faded type is used for “guests”. However, in my opinion it’s not worth it.
The faded type is clearly legible, but over the long haul it is more fatigue-inducing than regular, darker type. So, Mr. B, do you really want to condemn your readership to slogging through so much faded type?
Just a thought. Again, I do understand why the faded type was introduced. I just don’t think it’s worth it. You’re shooting yourself in the foot (and inducing eyestrain in your readers) as things currently stand.
At least 95% of the posts on this site are from people who’re logged in as “guest”. This means that someone reading the comments on this site will be reading almost everything in faded type. Now, I understand why the faded type is used for “guests”. However, in my opinion it’s not worth it.
The faded type is clearly legible, but over the long haul it is more fatigue-inducing than regular, darker type. So, Mr. B, do you really want to condemn your readership to slogging through so much faded type?
Just a thought. Again, I do understand why the faded type was introduced. I just don’t think it’s worth it. You’re shooting yourself in the foot (and inducing eyestrain in your readers) as things currently stand.
Can you read this?
F.U. U.S.O.B.
“I get this mental image of a bright but bratty and whiney four year old…”
Bright? ROTFL
My goodness, if the type is causing eyestrain
perhaps the affected readers need to get away from their computers for awhile…
While it appears the type annoys a few folks, ( not me) doncha’ think that the poster going on and on is a bit of a brat… you’re really annoying, we all “get it”…
I get this mental image of a bright but bratty and whiney four year old, stomping
up and down until he/she gets their way.
TIME OUT!!!
I find the faded type easier to read than the black type. You need to calibrate your monitor.
9:55 you are wrong. Lots of people will invest in a market that is going down, thinking it will eventually go back up again. What a wrong headed statement.