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So I was watching HGTV and saw a Brooklyn couple with children looking for a new home. They were in a very nice 1000sqft apartment that they where selling in Park Slope but when looking for a bigger place they couldn't afford Park Slope any longer. There budget was 1,000,000. The first hose they showed them was a very unattractive house in Bed-Stuy for 600k. It needed more work than I belive they were ready for. It used to be a store and was in need of pretty much everything being redone. They saw another brown stone for 600k also in Bed-Stuy. It looked great on the outside but needed a lot of renovations. It had huge windows and the space was pretty nice. The kitchen, bathroom and pretty much everything else needed to be redone though but it would have been a better deal then the first house they looked at. When the renovations where done the whole project would cost them 990,000. House 3 was a brown stone in Crown Heights. It was a nicer looking place and the people on HGTV was talking about how Crown Heights was a great place to live and where really selling that home. The house needed a lot of work but it was my favorite of all the houses they saw. That house had a tenent secion on the top floor where they would rent it out. After renovations it would be 947,000. They choose house number 2 the brownstone in Bed-Stuy. If it where me I would have loved the apartment they had in Park Slope but I also don't have kids. All in all it was a great eposide. I love when HGTV has shows in NYC.
I saw that episode. I had to laugh when they were extolling the virtues of living in Crown Heights. Man were they giving the hard sell on that one. I swear I saw the broker looking behind them when they were going into the house. When houses in CH are going for almost $1MM you can't help but think this bubble is about to burst. I sure as hell wouldn't be spending a million in that neck of the woods.
I do love when HGTV is in NYC. I'm sort of home obsessed so it's nice when House Hunters or another show pops up in NYC.
I saw that episode. I had to laugh when they were extolling the virtues of living in Crown Heights. Man were they giving the hard sell on that one. I swear I saw the broker looking behind them when they were going into the house. When houses in CH are going for almost $1MM you can't help but think this bubble is about to burst. I sure as hell wouldn't be spending a million in that neck of the woods.
I do love when HGTV is in NYC. I'm sort of home obsessed so it's nice when House Hunters or another show pops up in NYC.
I'm the same way. I love when I see something on NYC.
I'm the same way. I love when I see something on NYC.
I don't really enjoy seeing these shows hit NYC, maybe because it highlights the disconnect between myself and the people actually looking to buy something here. Truthfully, I don't know which irritates me more, seeing couples my age actually plunk down $1 MM for anything, let alone something in Bed-Stuy or Crown Heights, or seeing couples aged about 24 turn their nose up at some $200K 3,500 square foot place with 6 baths outside of Dallas because it's "too cramped for the price"
I don't really enjoy seeing these shows hit NYC, maybe because it highlights the disconnect between myself and the people actually looking to buy something here. Truthfully, I don't know which irritates me more, seeing couples my age actually plunk down $1 MM for anything, let alone something in Bed-Stuy or Crown Heights, or seeing couples aged about 24 turn their nose up at some $200K 3,500 square foot place with 6 baths outside of Dallas because it's "too cramped for the price"
I can live with the fact that many people make more money than me but I cannot live with the fact that a young couple feels that a 3,000sf ranch house on an acre of land is "too cramped".
Which episode is that $200k/6 bath Dallas thing? That's ridiculous that they even think it's cramped! Maybe they should move to NYC. Let's see what they think about what $200k can get in this city. Haha.
And yeah... back to the topic. $1m for a couple is wwaaaaay too much to pay for a place in Crown Heights! I mean, they could probably get something in their existing neighborhood, Park Slope. They could have also looked at Windson Terrace or Prospect Heights. They may even get some deal in Brooklyn Heights or even Manhattan!
I can live with the fact that many people make more money than me
Maybe I can't. It's not the idea of people making more than I do as much as the quickness with which it became normal for people in their early 30's to talk about buying 3 bedrooms with no land for a million +. There was a time when certain areas were very exclusive and outside of that normal people were within striking range; now anything within 30 mins of Manhattan, whether the area is safe or not, and you're pushing a million to house a family of four. It's not myself I'm worried about as much as the huge number of people who will never approach that. Not that I'll approach it, but I'll probably just skip out of the area. But not to Dallas.
This is a wholly different issue, but it seems indicative of (1) a major housing bubble; and (2) an economy that has concentrated all the income gains at the top for the past 35 years.
Quote:
Originally Posted by jeffcon0
but I cannot live with the fact that a young couple feels that a 3,000sf ranch house on an acre of land is "too cramped".
The level of house entitlement is pretty incredible. What does it say that I still wouldn't go live where they live?
I look at it this way if you love where your live and don't want to move out of NYC and you have the money then your going to buy a house for that money. It's all a matter of choice and a lot of families would rather live in NYC and have a smaller house than move to a suburban town and have a bigger house with land. People will always live where they want to no matter the housing prices. If they have the money they'll do it. It's the same as the younger generation spending 1,500 on a shoe box 420sqft apt in Manhattan or nice areas in Brooklyn. They choose to live in a city that they love. They could move to a very nice house in a suburb for the price they pay for a studio in NYC yet they want the NYC life.
Maybe I can't. It's not the idea of people making more than I do as much as the quickness with which it became normal for people in their early 30's to talk about buying 3 bedrooms with no land for a million +. There was a time when certain areas were very exclusive and outside of that normal people were within striking range; now anything within 30 mins of Manhattan, whether the area is safe or not, and you're pushing a million to house a family of four. It's not myself I'm worried about as much as the huge number of people who will never approach that. Not that I'll approach it, but I'll probably just skip out of the area. But not to Dallas.
This is a wholly different issue, but it seems indicative of (1) a major housing bubble; and (2) an economy that has concentrated all the income gains at the top for the past 35 years.
As usual I agree with you 100%. I started writing a reply to you that veered wildly off-topic and got far too long winded so I decided to put it in it's own thread.
I too love Hidden Potential and House Hunters. And I'm always a bit peeved when anyone outside of NYC complains of a home with 3000 or more square feet. I especially find it heart wrenching when they nit pick on the "little" things like: the large kitchen/bathroom/backyard/etc. isn't "large" enough. And when even their "smallest" home makes our largest apartments look cramped. LOL.
I would've chosen the house that this couple chose. I wonder how their renovations are going. I hope they are going well. I've read blogs of people who are renovating brownstones in other parts of Brooklyn and the process seems long and arduous.
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