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Old 12-25-2020, 02:22 PM
 
Location: Manhattan
4,780 posts, read 1,994,122 times
Reputation: 2498

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Apparently, B'klyn will be the place to be! They're predicting...

For those who are staying in New York (those who are looking to return), StreetEasy believes that Brooklyn will be the go-to borough. With inventory at an all-time high and reduced rental prices, Brooklyn has plenty to offer homebuyers and renters.

https://qns.com/2020/12/after-an-unp...arket-in-2021/

https://streeteasy.com/blog/2021-nyc...g-predictions/

In 2020, the COVID-19 pandemic upended New York City’s economy and housing market, as well as many of our predictions from last year. Unlike other large cities nationwide, New York saw record numbers of vacant apartments hitting the market, leading to the lowest rents in more than a decade. On the other hand, strong buyer demand returned to a sales market that had been cooling for nearly three years.

In 2021, the city will face a long recovery. The pandemic and the rise of remote work have led to lasting preference changes among renters and buyers that will shape New York for years to come. Here are StreetEasy’s 2021 NYC housing predictions.
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Old 12-29-2020, 05:53 AM
 
Location: NY
9,899 posts, read 2,830,299 times
Reputation: 6452
Response:Opinion

The presidency is still up in the air.....

When the highest of crime begins to disappear opportunities quickly arise and those closest to this data will have the greatest
chance of investing and securing in a foothold of opportunity.
This ( my opinion )
This is the greatest chance for people of modest means to partake in a once in a life time chance of hitting the lottery.
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Old 12-29-2020, 08:35 AM
 
Location: Hudson County NJ
889 posts, read 1,344,170 times
Reputation: 952
The city has a giant budget deficit and good paying jobs are packing up to Texas or Florida. There is nothing wrong with being poor but they will not be able to sustain the Giant welfare state and bloated government that currently exists. It is not sustainable.
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Old 12-29-2020, 09:04 AM
 
Location: Boston, MA
1,052 posts, read 1,263,543 times
Reputation: 818
After the latest eviction moratorium being signed, its more than clear that NYC/NYS is anti-landlord - this real estate investor and former NYCer will not be investing in the State. there are better states to invest, where you will be treated much fairly. As for my parents house in Queens, we'll keep it until the family member decides to move elsewhere, after that, we'll sell it to the person willing to pay top dollar. So glad my parents moved out to CT well before this nonsense started.
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Old 12-29-2020, 10:06 AM
 
Location: Staten Island
846 posts, read 250,047 times
Reputation: 1177
The Manhattan rental market is taking a hit right now but the outer-borough private home market is stable. On the east shore of Staten Island new 2-family homes sell in the $1M range. Good schools, lowest crime rate in the city, nice shopping areas and shopping centers are the draw.
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Old 12-29-2020, 10:08 AM
 
Location: Staten Island
846 posts, read 250,047 times
Reputation: 1177
Quote:
Originally Posted by Aeran View Post
Apparently, B'klyn will be the place to be! They're predicting...

For those who are staying in New York (those who are looking to return), StreetEasy believes that Brooklyn will be the go-to borough. With inventory at an all-time high and reduced rental prices, Brooklyn has plenty to offer homebuyers and renters.

https://qns.com/2020/12/after-an-unp...arket-in-2021/

https://streeteasy.com/blog/2021-nyc...g-predictions/

In 2020, the COVID-19 pandemic upended New York City’s economy and housing market, as well as many of our predictions from last year. Unlike other large cities nationwide, New York saw record numbers of vacant apartments hitting the market, leading to the lowest rents in more than a decade. On the other hand, strong buyer demand returned to a sales market that had been cooling for nearly three years.

In 2021, the city will face a long recovery. The pandemic and the rise of remote work have led to lasting preference changes among renters and buyers that will shape New York for years to come. Here are StreetEasy’s 2021 NYC housing predictions.

Work From Home (WFH) is here to stay, even post-vaccine. But we won't know until 2022 what WFH's full effect will be on the NYC office market.
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Old 12-29-2020, 10:20 AM
 
Location: Manhattan
4,780 posts, read 1,994,122 times
Reputation: 2498
Quote:
Originally Posted by dfc99 View Post
Work From Home (WFH) is here to stay, even post-vaccine. But we won't know until 2022 what WFH's full effect will be on the NYC office market.
You think? If that's the case, it'll affect a whole bunch of things not only office bldgs but the restaurants, delis, bars, stores, food cart vendors, that rely on office workers for business. WFH maybe here to stay but I don't think it'll be all encompassing. Situations will come up where workers will have to see each other face to face as well as with clients to conduct business. Maybe it'll be more a 50/50 kind of thing but yeah, it'll change the real estate landscape and life as we previously knew it, that's for sure.
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Old 12-29-2020, 10:59 AM
 
Location: Staten Island
846 posts, read 250,047 times
Reputation: 1177
Quote:
Originally Posted by Aeran View Post
You think? If that's the case, it'll affect a whole bunch of things not only office bldgs but the restaurants, delis, bars, stores, food cart vendors, that rely on office workers for business. WFH maybe here to stay but I don't think it'll be all encompassing. Situations will come up where workers will have to see each other face to face as well as with clients to conduct business. Maybe it'll be more a 50/50 kind of thing but yeah, it'll change the real estate landscape and life as we previously knew it, that's for sure.

Exactly. I fear that the NYC restaurant/bar business may be gone forever which is what deBlasio has always wanted anyway. Even after the pandemic only a fool would open a restaurant/bar in NYC knowing that they can be shut down during an 'emergency'. The food carts are filth on wheels so of course they will survive.
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Old 12-29-2020, 01:17 PM
 
Location: NYC
18,751 posts, read 11,991,106 times
Reputation: 22716
WFH is permanent for many companies, covid got it started. But it's the taxes and political issues that happened during this year that sped up companies leaving the area and they're not coming back anytime soon.

If NYC keeps electing liberals there's less likely companies will want to relocate back here. Businesses are shutting down faster the last 3 months. I never seen that many restaurants boarded up in Chinatown and LES even with the last 3 recessions.

Many folks living in NYC right now because there's no evictions. Cuomo will have to announce some kind of major tax hike to fully fund all of the expenses. Unless he will finally bring the axe and start laying off workers.

If DeBlasio doesn't announce layoffs he'll need to raises taxes big and further the company exodus and work from home.

I predict that home sales around NYC will remain flat and will start dropping by summer of next year. Because eventually the supply in the market will start to pile up from foreclosures and sales.
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Old 12-29-2020, 03:33 PM
 
Location: Confines of the 101 Precinct
25,584 posts, read 38,984,753 times
Reputation: 11180
Quote:
Originally Posted by vision33r View Post
WFH is permanent for many companies, covid got it started. But it's the taxes and political issues that happened during this year that sped up companies leaving the area and they're not coming back anytime soon.

If NYC keeps electing liberals there's less likely companies will want to relocate back here. Businesses are shutting down faster the last 3 months. I never seen that many restaurants boarded up in Chinatown and LES even with the last 3 recessions.

Many folks living in NYC right now because there's no evictions. Cuomo will have to announce some kind of major tax hike to fully fund all of the expenses. Unless he will finally bring the axe and start laying off workers.

If DeBlasio doesn't announce layoffs he'll need to raises taxes big and further the company exodus and work from home.

I predict that home sales around NYC will remain flat and will start dropping by summer of next year. Because eventually the supply in the market will start to pile up from foreclosures and sales.
Good, maybe people won't be subjected to sale price of half a million dollars on a house that needs repairs and you still hear gunshots at night

People are tired of slutting themselves out for a job just to be able to afford someplace to sleep.
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