Single Women Propping Up the Condo Market?
For some reason, according to The Times, single women can’t get enough of the Brooklyn condo market. It’s the women’s checks, David Walentas said of the unprecedented number of ladies dropping deposits at 110 Livingston Street. It’s not like a dual account — Joe and Suzy. It’s Suzy. I’m amazed. One broker says that it’s…
For some reason, according to The Times, single women can’t get enough of the Brooklyn condo market. It’s the women’s checks, David Walentas said of the unprecedented number of ladies dropping deposits at 110 Livingston Street. It’s not like a dual account — Joe and Suzy. It’s Suzy. I’m amazed. One broker says that it’s the women’s ability to take the long-term view versus men’s competitive need to get the best price in the here and now. Other brokers say it’s the powerful word-of-mouth effect among women that’s resulting in pockets of them buying in the same new developments. One person we had dinner with on Saturday night had a less politically correct theory: That single women at the end of their child-bearing years may be coming to terms with the fact that they will only need a one or two-bedroom home for the long haul, whereas men of the same age may be holding out on the belief that they may need a larger family home at some point in the future. Another option is that there may be no trend at all, just a few anecdotal outliers. It would be interesting to hear from some brokers on this one.
Women Unafraid of Condo Commitment [NY Times]
Photo by Hiroko Masuike for The New York Times
First of all, for all of you women who believe you are financial geniuses b/c you managed to make money in, oh, I don’t know, the HOTTEST real estate market of all time, get over yourself. Uneducated idiots could have made money these past few years. And yes, I am a woman. I still think you need to get over yourself- plenty of men did just what you did. Whoop dee do.
But this just pissed me off – why in order for women to feel empowered to we feel the need to male bash? Am I the only one who DOESN’T?:
“The female, on the other hand, got better grades in school and college than the male, is mature, organized, goal-driven, and has more independence and money than her mother’s generation ever had and is determined to be smart about it. I mean really — hasn’t anyone noticed that men in this culture don’t grow up until women acculturate them?”
What a RIDICULOUS statement. I am not afraid to admit that I knew several men who did better in college and professional school than I did, and many who were way more together at 25 than I was? Generalizations like the above are completely stupid, get us nowhere and set back the feminist cause.
Perhaps this is just anecdotal, but as a woman who has made 3 purchases in 8 years, all of which have made me and my husband (who had to be talked into every single buy/move) much more $ than we could have ever made in our everyday “work,” and provided us with a great home to raise our kids in an neighborhood that we could never afford if we were just entering the market, I have witnessed countless examples of my female peers being more motivated to buy real estate, get jobs, go to grad school (if they could get the $ to do it) and any other number of things to try to make their lives more secure and settled. So all you men who have posted about how women are “emotional” and make decisions without doing their research-you’ve gotta be kidding me. Look around? And I’m not just talking about single or young married couples, but familes with children. The women have been doing to dealing for some time now, so wake up and get your own acts together and then come back and tell us how smart and visionary you all are! We will applaud you then.
I love this thread. It makes so much sense to debate whether women or men are smarter when it comes to real estate. Keep up the great work.
Lots of misinformation here. Median income in Manhattan is $100,000. If you make less than this, how do you live in the city?
Rent of buy? if only paying $1000 month and is nice place – I’d keep it.
As long as you’re putting away all the extra money and not blowing it on martinis and taxis and restaurants.
Don’t get all excited 1:48. If look at stats you still make more than most people (not that makes you better person than anyone else).
If you look at % of people making over 100K in this city….much smaller than you think. Just more visible and written about.
9:01…That was a nasty thing to say and you are making everyone without graduate degrees and Wall Street salaries and bonuses feel badly about themselves. Some of us can’t afford to go to grad school. Some of us need to work now just to live. I wonder what it is that you do for a living that is so great that you have time to be posting comments on a lowly blog (about Brooklyn no less).
And what about the younger folks just starting out? What are we supposed to do. This article assumes that everyone is privileged and makes six figures right out of school and has parents who will foot the $50-100K down that is needed to buy a one or two bedroom. And that there is no reason for anyone living in America not to be able to actually afford to buy something for $750,000 at the age of 25.
I guess I have one more year of being able to rent until I am deemed a “loser” by people like you. I guess I better get back to school and fast or else I will have to start collecting food stamps and move into a housing project. I will never get anywhere with just a BA and my charm. Maybe I should just end it all now because I don’t have an extra $100K just sitting around and can barely pay my rent and utilities of less than $1500 a month. So, my life is over at 24 I guess.
Thanks for making me feel great 9:01! I really needed that boost as if life isn’t depressing enough when you live in NYC and only make $52K a year.
Go get your MBA and make some real money…..
Ok people, if you were me, what would you do? Salary $95k. Downpayment $95k. Student loans: $450/mo. Current rent: $1000/mo. Should I rent or buy? Only interested in Fort Green, Clinton Hill, Boerum Hill, Cobble Hill, Park Slope, Prospect Heights. 1 bedroom, no studios. No roommates, either.