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| 05-12-2015, 09:53 AM | #1 |
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House prices in Brooklyn are so expensive people are moving back into Manhattan
This (fairly short) article is interesting, in today's Independent (UK)...
House prices in Brooklyn are so expensive people are moving back into Manhattan Can any New Yorkers corroborate this claim? Cheers ... |
| 05-12-2015, 09:59 AM | #2 |
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Second Lieutenant
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Actually spawned from this original article in the New York Times
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| 05-12-2015, 10:23 AM | #6 | |
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| 05-12-2015, 10:25 AM | #7 |
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powerhouse
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 this thread almost got me to admit that i watched an episode of Million Dollar Listing. oh wait... crap.
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| 05-12-2015, 10:32 AM | #8 | |
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| 05-12-2015, 11:37 AM | #10 |
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Major General
 
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I'd love to know for comparison purposes.
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| 05-12-2015, 12:15 PM | #11 | |
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| 05-12-2015, 12:18 PM | #12 |
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powerhouse
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it's getting impossible to get close to the ocean in californa. i think there's "affordable" places but most people would need to be far from everything (forget walkable) or live in a high crime rate area.
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| 05-12-2015, 12:40 PM | #13 |
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I live a half marathon from the ocean (Santa to the Sea) in the hood with 1/3 acre and 5 bedrooms. When we refinanced a few years ago it appraised at $750K. No WAY would I pay that for my house.
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| 05-12-2015, 12:54 PM | #14 |
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One of Wifey's friends just dumped her place in Queens to move back to Manhattan. Apparently not a huge difference in cost for her. I'd certainly take Manhattan over the others, all things being equal.
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| 05-12-2015, 01:52 PM | #16 | |
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powerhouse
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people making low six figures and can't even get close anymore.
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| 05-12-2015, 03:53 PM | #17 |
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Yes this is 100% true. Gentrification has accelerated 100 fold in areas in Brooklyn that are still close to Manhattan. Some places like park slope, red hook and Gowanas are seeing monthly increases in property values. Additionally developers are buy as much land as possible to build luxury living.
Brooklyn is rapidly becoming a very expensive borough. I recently bought a house and moved the family to the suburbs on long island say about 1.5 years ago. The same condo i sold then for 600k would now sell for 825-900k easily.... Very hard to start a career and branch out in NYC these days. Salaries have not nearly gone up as much as rent has. Unless you are yuppie and can hold your own, NYC is a rough place rent wise.
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| 05-12-2015, 04:25 PM | #18 | |
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That is beginning to happen here in Denver too, though not quite to the extent as NYC. Loads of people have been moving here in the last few years shooting up home prices and rents. Supposedly Denver is seeing the highest average increase in rent over the last year of 9%.
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| 05-13-2015, 01:18 AM | #20 | |
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$1M in central texas (Austin) will get you 3500-4000 sq ft, ~4 bedrooms and 3-4 bathrooms. Again, still a bargain compared to Palo Alto. |
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| 05-13-2015, 01:30 AM | #21 | |
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OK, I am completely clueless when it comes to NYC (even here in LA; I was shocked to hear that Compton isn't as bad as it used to be), which I have been entertaining the thought of going out there for a while to hang out with my cousin. I've heard Queens is cheap but decent, but what area is lower priced, but not ghetto?
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| 05-13-2015, 01:30 AM | #22 |
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$4-6M is probably an understatement.
Here are some typical houses in the $3M-$5M range in my parent's neighborhood and they're all like 4 beds, 5 beds, ~7000 sq ft. http://www.zillow.com/homes/for_sale...1_fr/?view=map An 8 bed room, say ~10,000 sq ft house would probably be like $7-9M. Like this one (fun fact: the owner of this house is Steven Dell, Michael Dell's brother) is 6 bed, 8 bath, 15,779 sq ft for $7.69 M http://www.zillow.com/homes/for_sale...1_fr/?view=map |
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