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The two issues are unrelated. The real estate market is healthy because people are always willing to buy homes in desirable neighborhoods. So far that has increased home prices in NYC. I live on SI, and the SI home market is healthy here because SI is filled with safe quiet neighborhoods and reasonably good schools. A mixture of Chinese-Americans, Italian-Americans, Albanian-Americans and other white ethnics are buying up homes on SI. A 1-family home on my block sold in two weeks, a 2-family home across from that home sold in a few weeks.
Isn't it amazing how the Chinese-Americans, Italian-Americans, Albanian-Americans, etc all get along with each other? Groups that share middle-class values always get along with each other.
Adams called me directly and asked me to come back to work.
I told him I would if he paid for my lunches from here on. Like a free lunch Debit card, $25 day limit.
He said he would get back to me.
France actually has this believe it or not along with mandatory commuter benefits (employer must purchase a transit pass for employees).
The two issues are unrelated. The real estate market is healthy because people are always willing to buy homes in desirable neighborhoods. So far that has increased home prices in NYC. I live on SI, and the SI home market is healthy here because SI is filled with safe quiet neighborhoods and reasonably good schools. A mixture of Chinese-Americans, Italian-Americans, Albanian-Americans and other white ethnics are buying up homes on SI. A 1-family home on my block sold in two weeks, a 2-family home across from that home sold in a few weeks.
Isn't it amazing how the Chinese-Americans, Italian-Americans, Albanian-Americans, etc all get along with each other? Groups that share middle-class values always get along with each other.
I'm not sure you have a good grasp of the NYC RE market. SI has some of the cheapest RE (per SQ ft) in all.of NYC. Have you seen prices of RE literally across the street from NYCHA in Brooklyn or Queens?
$1K/SQ ft to hear gunshots ring out from time to time. There's no mass exodus from this city.
I'm not sure you have a good grasp of the NYC RE market. SI has some of the cheapest RE (per SQ ft) in all.of NYC. Have you seen prices of RE literally across the street from NYCHA in Brooklyn or Queens?
$1K/SQ ft to hear gunshots ring out from time to time. There's no mass exodus from this city.
New 2-family homes on the east shore of SI quickly sell in the $900K range. Re-sale 1-family homes in the $650K range depending on size. Those may be 'cheap' for NYC but still not cheap. SI has the longest commute so of course home prices will reflect that but no one on SI is complaining.
The city’s economy and jobs are the reason. If that goes south, it will start to see a population decline.
The heavy inflows came for the jobs / economic opportunities.
What's your point? "IF". IF I was CEO of Tesla or Amazon, I'd be a billionaire but I'm not. So "IF", doesn't mean much.
Quote:
Originally Posted by dfc99
New 2-family homes on the east shore of SI quickly sell in the $900K range. Re-sale 1-family homes in the $650K range depending on size. Those may be 'cheap' for NYC but still not cheap. SI has the longest commute so of course home prices will reflect that but no one on SI is complaining.
I don't understand your point either. You initially pointed to SI RE and how it's so much safer (which it is). I'm simply telling you that crime isn't impacting RE prices in NYC at this point. Your $900K in SI, won't even buy a 1 bedroom, 700sq ft condo where the homeless roam around on that same block and their shelter is a quarter of a mile away.
I live on SI. most people I know can’t wait to leave.
Let's be honest. Those who love in SI, already had 1 foot out of the door. This was true even in the 90s and early 2000s when things were great. A certain buyer moves to SI. This has been true for decades.
In the 90’s and 2000’s Staten Island was still well populated by natives. It’s the Brooklyn transplants who use it as a stopover to NJ. We’re all leaving now because a) the whole city blows goats and b) home values are too high to pass up the profit. I made $200,000 on a tiny townhouse. It’s sick.
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