are there parts of NYC that is still working class and affordable? (Carroll: real estate market, condos) - New York City - New York - City-Data Forum

thealfa · 11-02-2010, 11:31 PM

I'm guessing outside of Manhattan is supposed to be affordable (the 4 other burroughs). Any truth? Was NYC ever affordable in the 80's and 90's? I'm just wondering. Does anyone have a data of cost of living in NYC throughout the years. I know it's now through the roof...

Bronxguyanese · 11-03-2010, 01:25 AM

I know a lady and she told me back in 1983 she bought her coop for 30000 dollars and now her midtown coop is worth a million or more.

11-03-2010, 08:16 AM

Most of the Bronx, much of South Brooklyn, the majority of Staten Island, the majority of Queens- are afforable to the working class.

You see in many of those places though large congregations of people on social aid- many with multiple children they cannot/nor could ever, afford.

Areas that are highly dominated by middle class working families are far and afew- mostly in South Brooklyn and Staten Island.

Fred314X · 11-03-2010, 09:15 AM

Affordable is what you can afford. It's not a number set in stone that everyone has to conform to.

Doobage · 11-04-2010, 08:38 AM

Quote:

Originally Posted by Fred314X

Affordable is what you can afford. It's not a number set in stone that everyone has to conform to.

This.

babo111 · 11-04-2010, 09:04 AM

Quote:

Originally Posted by thealfa

I'm guessing outside of Manhattan is supposed to be affordable (the 4 other burroughs). Any truth? Was NYC ever affordable in the 80's and 90's? I'm just wondering. Does anyone have a data of cost of living in NYC throughout the years. I know it's now through the roof...

In 80s and early 90s there was real estate market crash and recovery in NYC. Also country has just gotten out of slump of 70s.

Starting mid and late 90s, real estate bubble started building and hit peak around 2005-2006ish then it burst in 2007 leading us to where we are situated now.

If you want data for COLA for NYC, you can google that yourself pretty easily online.

BrownstoneNY · 11-05-2010, 10:31 PM

Quote:

Originally Posted by babo111

In 80s and early 90s there was real estate market crash and recovery in NYC. Also country has just gotten out of slump of 70s.

Starting mid and late 90s, real estate bubble started building and hit peak around 2005-2006ish then it burst in 2007 leading us to where we are situated now.

If you want data for COLA for NYC, you can google that yourself pretty easily online.

FWIW, prices actually peaked in NYC in 2008.

StuddedLeather · 11-05-2010, 10:43 PM

Quote:

Originally Posted by Fred314X

Affordable is what you can afford. It's not a number set in stone that everyone has to conform to.

I also agree with this.

My "affordable" might be your "expensive".
So it varies from person to person.

But everyone that I associate with works and is doing fine,
with a social life as well.

Whatitdo? · 11-07-2010, 11:10 AM

Quote:

Originally Posted by thealfa

Any truth? Was NYC ever affordable in the 80's and 90's? I'm just wondering.

You could by brownstone mansions for almost nothing in some areas. Now, those same houses could cost over $1,000,000.

BrownstoneNY · 11-07-2010, 07:01 PM

Quote:

Originally Posted by Whatitdo?

You could by brownstone mansions for almost nothing in some areas. Now, those same houses could cost over $1,000,000.

Yeah, there was a major real estate crash in NYC in the late 1980s, and you could pick up beautiful brownstones or condos for almost nothing in many areas. Also, a lot of neighborhoods that were still somewhat sketchy in the 1980s have become among the most expensive in the city, like Chelsea and Tribeca, or in Brooklyn Park Slope and Carroll Gardens.