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The correct answer is nobody knows. Real estate lags behind the market so give it some time. Sometime could less 4 months or 4years. The bottom is anybody's guess. I'd wait to see what happens 6months after the fed quits printing money. Short term prices will drop. Long term prices will rise. Rich get richer, poor get poorer. I'm expecting a decade long depression.
Give it 6 mo's to a year. Then go in. That's what most in the know savants are saying. I agree. If Trump loses the election and doesn't agree to bail out NYC, you can be sure the 1970s are coming back. That's when I would buy...if you're able to keep out the squatters.
People in the past would ridiculously say the good ole bad days are coming back, however now it's for real. You have a perfect storm of a crappy, terrible mayor who is hell bent on chasing out every white person by letting out criminals left and right, a financial crisis which is coming big time, a police force that no longer gives a ….., and a virus that ain't leaving anytime soon...+ about a million illegal aliens that will be hungry and desperate. Oh, it's coming, it's coming.
NYC is world class it won't happen rich foreign people will move to the city buy up properties.
This is certainly true. Even in a major worldwide economic slump, the very rich will still see Manhattan condos (and some desirable Brooklyn real estate) as a place to park some of their money, although you would likely, IMO, see some lower prices in many outer boroughs neighborhoods. But even now, interest rates are historically low, and that serves to bolster prices.
Absolutely going to turn down. It can’t tank yet because everyone took there properties off the market. The Real estate agents are trying to rig the system and removed the days on the market.
The property’s that were on the market in expensive parts of Brooklyn were already getting slashed in prices before this virus happened.
What older person 50+ wants to risk getting sick by living in NYC ? Ohh and wait until the property tax reforms hit. Properties that are 3 million will have Yearly taxes into the 80k to 100k range for what? Schools like PS58 in Carroll gardens will have kids getting buses in from outer neighborhoods for inclusion. The game is up on these neighborhoods like Carroll gardens Cobble Hill and Park Slope .
No it's not gonna tank because plenty of RE groups that have deep pockets can scoop them up. What's gonna happen is the commercial RE will tank big time. Soon many companies will leave and move to cheaper locations. No need to lease empty floors.
Give it 6 mo's to a year. Then go in. That's what most in the know savants are saying. I agree. If Trump loses the election and doesn't agree to bail out NYC, you can be sure the 1970s are coming back. That's when I would buy...if you're able to keep out the squatters.
People in the past would ridiculously say the good ole bad days are coming back, however now it's for real. You have a perfect storm of a crappy, terrible mayor who is hell bent on chasing out every white person by letting out criminals left and right, a financial crisis which is coming big time, a police force that no longer gives a ….., and a virus that ain't leaving anytime soon...+ about a million illegal aliens that will be hungry and desperate. Oh, it's coming, it's coming.
Its amazing how someone can reveal racist thoughts. So every nonwhite person is a criminal, or endorses those who are, so its a plan to chase out whites if one is soft on crime.
Word to you, De Blasio is a white man. I bet his tenants are white. I bet that 80% of his friends are also white. De Blasio lets cops cuff people in their faces, while they have them restrained. Each cop double the size of the person being restrained, and yet there are 3 cops involved, all holding this person down. Why? Because they didn't social distance! This because they are nonwhite. Your white Millennials can crowd together, wear no masks and pass by spraying body fluids on others as they pass them. Nothing happens.
Those who express these thoughts will be miserable because with each passing day the USA becomes more and more nonwhite. Your average 10 year old is now no longer white, and NOT because of undocumented migrants, as most are born here in the USA.
When the USA won its independence it was already 20% nonwhite (not including the Native Americans). Most blacks are descended from people who were kidnapped and sold to planters when these were 13 British colonies. Most whites are descended from those who arrived in the mid 19th C. So on what basis should whites enjoy priority?
Its amazing how someone can reveal racist thoughts. So every nonwhite person is a criminal, or endorses those who are, so its a plan to chase out whites if one is soft on crime.
Word to you, De Blasio is a white man. I bet his tenants are white. I bet that 80% of his friends are also white. De Blasio lets cops cuff people in their faces, while they have them restrained. Each cop double the size of the person being restrained, and yet there are 3 cops involved, all holding this person down. Why? Because they didn't social distance! This because they are nonwhite. Your white Millennials can crowd together, wear no masks and pass by spraying body fluids on others as they pass them. Nothing happens.
Those who express these thoughts will be miserable because with each passing day the USA becomes more and more nonwhite. Your average 10 year old is now no longer white, and NOT because of undocumented migrants, as most are born here in the USA.
When the USA won its independence it was already 20% nonwhite (not including the Native Americans). Most blacks are descended from people who were kidnapped and sold to planters when these were 13 British colonies. Most whites are descended from those who arrived in the mid 19th C. So on what basis should whites enjoy priority?
This is a thread about real estate prices. If you try to thread jack it into a racial thread (which is all you do), you will be infracted.
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