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Coworker at my job who retired recently said he sold his house in bay ridge to a 24 year old off the boat chinese kid who called americans lazy. The kid paid over asking, cash, waived inspection and paid every single fee and commission.
Prices might correct themselves, but it would be a gamble, in my opinion.
I think we all agree that NYC is on a wrong path. It has picked itself up in the past, yes, but there is zero guarantee that it will do it again.
Another poster mentioned the magic associated with NYC. This magic is largely (if not totally) gone. Things were bad in the 70s and 80s, but back then the information available to people outside the metro area was much more limited. Especially for folks outside the US. Now, with the internet, everyone is aware of the situation. The riots, the graffitied store fronts, the violent crime: people hear about it, see pictures, etc.
That's not very enticing. Not to Americans who just want peace and quiet for their families. And not to foreigners with resources, whom the city needs much more than they need her.
NE Queens and SI are not served by subways which makes them more desirable to many homeowners. Subways bring skells and crime into neighborhoods.
Any areas that served the Port Wash LIRR line commands a certain premium. under 30 min LIRR express from Great Neck to Penn has premium priced in. Always been true even pre pandemic
Whats the point of these threads? Yes, we're in a global pandemic. Yes, the nation is ramping up vaccinations by the day. Things will come back in due time. Life goes on.
I believe Covid has greatly affected people's mental health. They are mostly looking to vent and/or seeking assurance.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
Prices might correct themselves, but it would be a gamble, in my opinion.
I think we all agree that NYC is on a wrong path. It has picked itself up in the past, yes, but there is zero guarantee that it will do it again.
Another poster mentioned the magic associated with NYC. This magic is largely (if not totally) gone. Things were bad in the 70s and 80s, but back then the information available to people outside the metro area was much more limited. Especially for folks outside the US. Now, with the internet, everyone is aware of the situation. The riots, the graffitied store fronts, the violent crime: people hear about it, see pictures, etc.
That's not very enticing. Not to Americans who just want peace and quiet for their families. And not to foreigners with resources, whom the city needs much more than they need her.
I agree with everything you said but the only thing is that NYC doesn't have competition in the US. That's why this city has been run into the ground by ******* politicians and has always bounced back.
Whats the point of these threads? Yes, we're in a global pandemic. Yes, the nation is ramping up vaccinations by the day. Things will come back in due time. Life goes on.
Quote:
Originally Posted by SeventhFloor
I believe Covid has greatly affected people's mental health. They are mostly looking to vent and/or seeking assurance.
COVID is a once in a lifetime event that has initiated secular trends that will last decades.
It's not about venting or seeking assurance. It's about seeing where the world ), and in this case, NYC is heading in the next 5, 10, or 20 years.
The only people who wouldn't care are those who are retired, near death, or live off of the government (not like they can do anything anyway).
We've mainly been looking at condos. New builds in BK and LIC and existing in Manhattan. Were not interested in all of the neighborhoods below but it's good to know the market and see what's out there so we've looked at apartments everywhere.
Gowanus
Bed Stuy
Downtown Brooklyn
Prospect Park South
Williamsburg
LIC
Murray Hill
UWS
Lennox Hill
Financial District
..and a bunch of others.
Prices are down from pre-Covid highs. Take any price on Street East take 10% off easy, and start negotiating from there. Some properties have much more room in there depending on the desperation of the developer /seller.
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