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Old 07-22-2019, 01:26 PM
 
Location: New York, NY
8,208 posts, read 3,574,794 times
Reputation: 3365

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https://www.realtor.com/news/trends/...GELFdznPJt2ruM

Fieldston in Riverdale is #1 on the list with Kingsbridge being #2. Interesting to say the least...
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Old 07-22-2019, 01:36 PM
 
245 posts, read 194,495 times
Reputation: 147
80% of americans can't afford any of these LOL
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Old 07-22-2019, 01:49 PM
 
Location: New York, NY
8,208 posts, read 3,574,794 times
Reputation: 3365
Quote:
Originally Posted by NYC4US View Post
80% of americans can't afford any of these LOL
I know... That's the crazy part.
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Old 07-26-2019, 11:28 AM
 
Location: Manhattan
21,624 posts, read 28,580,131 times
Reputation: 9830
Make that 90%??
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Old 07-26-2019, 12:35 PM
 
11,036 posts, read 9,434,515 times
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80% of Americans don't live in NYC. NYC has economic drivers that push up housing prices that most areas in the US don't have.

Quote:
Originally Posted by NYC4US View Post
80% of americans can't afford any of these LOL
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Old 07-26-2019, 05:56 PM
 
Location: NY
4,057 posts, read 1,046,358 times
Reputation: 2386
Opinion:
I have offered this opinion to friends prior to joining this site.
Back in 2018 I stated prices will begin to drop by 2020.
They have already saved between $100,00 and $200,000 in home purchases.
In the 70's blue collar pay was 7 times minimum wage.
Blue Collar pay scale today is less than 3 times the minimum wage.
Real Estate has started rolling down hill two years ago. If you have a few bucks
or have time to save now is the perfect opportunity. Severe drops soon to follow.
Let the market return to realistic prices by sitting it out .You will save even more.
The city is in a multi billion dollar deficit and will impact higher priced home purchases.
Pay close attention to the old folks ready to pack it in. This will be the best buys.
The retirees are leaving and a few hi tech wages can only afford to buy them.
The city has too many poorer people.The market is slowly returning to the buyer
with a few bucks saved regardless of all other opinions.

Last edited by Mr.Retired; 07-26-2019 at 06:10 PM..
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Old 08-08-2019, 01:44 PM
 
1,757 posts, read 640,670 times
Reputation: 1854
Quote:
Originally Posted by pierrepont7731 View Post
https://www.realtor.com/news/trends/...GELFdznPJt2ruM

Fieldston in Riverdale is #1 on the list with Kingsbridge being #2. Interesting to say the least...
Seems to me that neighborhoods in and around NYC fall in five general categories: (1) ultra-luxury buildings in Manhattan which are micro-neighborhoods in themselves, (2) trendy neighborhoods, including most parts of Manhattan and some Brooklyn, (3) remote suburbs in Westchester and CT, which are not "trendy" in urban sense, but contain upmarket houses and good schools, (4) generally safe bedroom communities with more or less reasonable commute to Manhattan, in all the non-Manhattan boroughs, as well as Westchester and New Jersey, (5) depressed, unsafe areas (principally the Bronx, but can be found in all other boroughs and suburbs too).


There are five general categories of property prices that correspond to the five general categories of neighborhood quality. There are totally livable pockets in the Bronx that have moved from category 5 to category 4, but relatively few people realize that. Eventually, property prices in these pockets of the Bronx will equalize with other similar safe bedroom communities in other boroughs. There is no particular difference between a safe bedroom community, on a subway line, located in Queens vs. located in the Bronx, and prices in such areas of the Bronx will rise until they reach the level equal to Queens. Neither will, obviously, remotely reach the level of Manhattan, unless something unbelievably unlikely happens, say, an asteroid hits Manhattan.


The market is probably saturated in categories 1 and 2 (ie, the number of properties on the market is probably larger than the number of people interested in buying them - particularly in category 1), which I assume is the reason why prices have dropped in some of such neighborhoods. But the prices in such neighborhoods will never drop anywhere close to the level of outer boroughs.
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Old 08-08-2019, 03:49 PM
 
Location: Lower East Side, NYC
2,162 posts, read 1,418,676 times
Reputation: 1572
If maintenance wasn't so high, I'd have bought in the Bronx. If it has a maint of over $700, I need it to cost less than $250k. If it has a maint of over $1k, I'm not going to touch it with a 10 ft pole. The only way I'd budge on that is Mitchel Llama since the buy in is so low.

I have some hope that prices fall to what I consider reasonable, but I have high doubt. In the very least though, the down payment is ready. The market returned much more than property has appreciated, to which I can basically say: the math was right.
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Old 08-08-2019, 04:27 PM
 
Location: Brooklyn, NY
289 posts, read 76,413 times
Reputation: 201
Damn thatís the part of the Bronx I secretly wanted to buy a house in.
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Old 08-09-2019, 07:09 AM
 
Location: NY
4,057 posts, read 1,046,358 times
Reputation: 2386
Quote:
Originally Posted by iLoveFashion View Post
Damn thatís the part of the Bronx I secretly wanted to buy a house in.

I scoped out the neighborhood as well.
Sit it out and wait........................
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