Who Rents Here?
More fun with demographics! The average brownstone Brooklyn renter in the first quarter of this year was a twentysomething artsy freelancer who makes $50,000 a year, says the Eagle. The profile is based on data from a firm called Ideal Properties Group. More: 33 percent of new Brooklyn renters were in the entertainment business, 24…
More fun with demographics! The average brownstone Brooklyn renter in the first quarter of this year was a twentysomething artsy freelancer who makes $50,000 a year, says the Eagle. The profile is based on data from a firm called Ideal Properties Group. More: 33 percent of new Brooklyn renters were in the entertainment business, 24 percent in art, design and architecture, 10 percent in legal work, 9 percent in advertising, media and public relations, and 7 percent in sales. (How about finance?) According to Ideal’s report, fewer new renters are coming from across the river: In the first quarter of 2006, 53 percent were from Manhattan, compared to 24 percent in Q1 2008. The vast majority of renters surveyed had roommates.
As Brooklyn Grows, More People—And Young Ones—Are Renting [Brooklyn Daily Eagle]
Posted by: guest at June 18, 2008 11:50 AM:
i’m a music editor, make about 60K a year and live in park slope. i’m single, gay and 29.
Posted by: guest at June 18, 2008 1:00 PM:
I’m 32, live in PS, make roughly $80k a year working for a classical music record label.
No kids, homo.
Posted by: guest at June 18, 2008 1:04 PM:
11:50 and 1:00 might make a cute couple…
Ha ha, 1:04 🙂 Please, all of you, tell us if this happens!
RE: Polemicist
>>>>I would say this survey is not scientific. The most represented groups are the most probable readers of an internet based survey. Seriously. The entertainment business? What is that? Hookers? Bartenders? Musicians?
I’d be more interested in the household sizes. When I explain to most 20-something renters in the neighborhood that increased zoning density regulations and the elimination of rent stabilization would guarantee they would be able to afford their own apartment rather, they all seem quite eager for “change”. <<<< You seemed way too quick to judge the "scientificity" of the data... and to be honest I had a similar reaction at first. So I asked the source for more info--and I reviewed the original report that Ideal put out... apparently this wasn't an internet based survey, but a statistical report on actual rentals they had in Q1 2008. You certainly do have a point in being more interested in the household sizes--so maybe you should go ahead and do a study of your own... ? I'd be really interested in seeing this.
seems like you are trying to justify why you didn’t sell
i’m a 25-yr old single male living in park slope making $50k a year. i enjoy long walks in the park and going to indie music shows. i’m about 5′-10″ and extremely good-looking. seeking attractive female with similar interests.
The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks. “A very nasty period is soon to be upon us – be prepared,” said Bob Janjuah, the bank’s credit strategist.
A report by the bank’s research team warns that the S&P 500 index of Wall Street equities is likely to fall by more than 300 points to around 1050 by September as “all the chickens come home to roost” from the excesses of the global boom, with contagion spreading across Europe and emerging markets.
Such a slide on world bourses would amount to one of the worst bear markets over the last century.
Anyone who bought property in NYC prior to 2006 has already seen enough price appreciation to weather a downturn. Even 30% drops will be negated by the appreciation since that time.
It’s only people who bought in fringe areas in the last year to year and a half who might be slightly in trouble. And they are only in trouble if they have to sell. Many people who buy homes in NYC (because of the difficulty) were not flippers and bought to stay for a while.
I really don’t see the reason for the panic, 4:45.
Sounds like you just want to justify why you didn’t buy.
If you are such a smart investor, why did you just miss out on buying in the largest run up in prices in our lifetime???
I bought for 450K and now own a 3 million dollar brownstone.
If the market tanks a bit, I’ll survive, as will many…
4:19 here. there is no link. i talk to bank CEOs very frequently as an institutional investor. it’s an off the cuff and off the record remark, but it is real. and this is not just NYC. bank management teams from all over the US look like deer in headlights when they talk about credit (esp. housing). i’m not making this up.
so keep trying to convince less connected or less financially savvy people. i can do the math on my own. keep in mind that closing costs alone on a $950k new construction condo would pay my rent for two years. all i need is a 10-15% price chop on that place to justify my position, which i have seen in my area already. good luck w/ the broker job.
4:19, keep in mind that for every year you continue renting you are spending $30,000.
You need to factor in if you REALLY think prime areas (if that’s where you are looking) are going to be significantly cheaper years down the road, because you are essentially throwing money down the tubes right now, while you wait out the alleged downturn.
btw, where is the article link to this guy’s prediction for the “nyc housing crash”
is his name “the what” by any chance…?