rental prices dropping?

BKChickie wrote: Maybe I'm just at the age where someone cracks under the strain of city living, but I know at least three couples who are in the process of, or already have, left Park Slope for cheaper, more spacious digs in other neighborhoods.

Which neighborhoods? My little family unit needs bigger, cheaper housing and it doesn't seem to exist in PS/PH!

Obamanut wrote: [quote=Lo Kee]
let me make this simpler: when people have less money they cant pay as much for stuff.

Correction: When rationale people have less money, they forego stuff they don't need.

When tussled-hair Converse-wearers have less money, they lie in wait on the outskirts of Park Slope, seething, dreaming, plotting and planning for the day they can regain their bragging rights among other Converse-wearers by moving back into the neighborhood.

OK let me try an example. If I have a quarter, and you have an apple that you want a dollar for, either 1) I can't buy it, or 2) you lower your price.

If that still doesnt get through I can try an illustration.

Santa wrote: for every person or family in sunset park trying to move to park slope theres someone or some family in park slope trying to move to _______.

the prices to buy and rent has been seriously inflated over the last 10 years and when the top cant pay top prices everything slides down to correct.

also Park Slope is not considered cool in these "converse wearing" circles you guys speak of. While it may be beautiful, safe and have alot of shops and restaurants its not cool.

That's funny, because if I had a nickel for every pair of black-and-white Chucks (I call them "Clown Shoes") I see on 7th Ave each Sunday, I'd have enough dough to buy Jennifer Connelly's old digs right about now.

obamanut - my mom wears chucks. they do not constitute coolness.

Obamanut wrote: [quote=Lo Kee]

OK let me try an example. If I have a quarter, and you have an apple that you want a dollar for, either 1) I can't buy it, or 2) you lower your price.

If that still doesnt get through I can try an illustration.

Actually, the correct outcome to your equation is (1) You can't buy it, but; (2) That's perfectly fine, because another lemming will be in line right behind you, perfectly willing to pay what I'm asking (and then some) just for the opportunity to partake of my organic free-trade Union Market apple.

So, it looks like either way, I win. $ucks to be you! 8)

That's exactly my point (although you put it a lot more creatively than I did). Someone's paying, so things cannot be all that bad. Maybe rents will level off for a while, and maybe a landlord might be more negotiable to keep a good tenant.

I think that it's astounding that the people I know (who have very decent incomes, but are realizing that it's stupid to throw so much away in rent), are getting priced out of Park Slope. Goes to show you how desirable PS is.

Actually, was more of a quality issue. There were places in PS they felt were affordable, but these places were dumps. So, perhaps what'll happen is that a few landlords with dumps will drop the rent a bit, but that other landlords with really nasty places will be compelled to renovate.

We couldn't afford PS when we were looking last year. Again, it got to the point where we were looking at terrible-quality units in our price range and started to think that maybe we just needed to give up on the idea. It wasn't that important to live in PS. Went over to PH, found a great place for at least $50K less than PS. Someone obviously bought the places we rejected (although I would love to know some of the sale prices), so the location still won out over space quality.

BKChickie wrote:
But a few more of my friends are beginning to talk Westchester.

FWTD. Give me Guatemala, Narvik, Muscat, Uyghurstan, maybe even Oregon, but spare me from the suburbs.

meganlibrarian wrote: I sure as hell hope that rental prices drop - I need to find a new place by Feb 1st, and I need a 2BR for $1800 or lower. Ha. Ha. Ha. Whee.

I live in PH on St. Marks in the newest of the Alma Reality cluster of buildings which include the Jewish Hospital. My 2 bedroom is 1850. We have a balcony and view so I'm sure you could find a cheaper deal without those things.

Goodluck!

Caitobot wrote: [quote=meganlibrarian]I sure as hell hope that rental prices drop - I need to find a new place by Feb 1st, and I need a 2BR for $1800 or lower. Ha. Ha. Ha. Whee.

I live in PH on St. Marks in the newest of the Alma Reality cluster of buildings which include the Jewish Hospital. My 2 bedroom is 1850. We have a balcony and view so I'm sure you could find a cheaper deal without those things.

Goodluck!

And that's a 1.5 BR

Come to Crown Heights, I live in a 700 sqft

700 sqft

700 sqft

1BR apt for 1400 on Nostrand and Bergen

Obamanut wrote: [quote=Lo Kee]

OK let me try an example. If I have a quarter, and you have an apple that you want a dollar for, either 1) I can't buy it, or 2) you lower your price.

If that still doesnt get through I can try an illustration.

Actually, the correct outcome to your equation is (1) You can't buy it, but; (2) That's perfectly fine, because another lemming will be in line right behind you, perfectly willing to pay what I'm asking (and then some) just for the opportunity to partake of my organic free-trade Union Market apple.

So, it looks like either way, I win. $ucks to be you! 8)

Big uppping myself:

http://nymag.com/realestate/realestatecolumn/52564/

sje wrote: Here you go, enjoy!
http://newyork.craigslist.org/brk/abo/942060544.html

Park Pl and...

Utica?

Kingston?

Rockaway?

Santa wrote: outside of brooklyn I was really suprised at the number of cheap studios in manhattan right now. Theres shitloads of stuff in the 1300 range on the upper east and west side along with downtown.

Wondering if all the Wall Street layoffs mean that the (former) lower-level bank employees are moving back in w/M&D until they find something else. Might have eased up demand for those studios a bit.

Santa wrote: Im helping a friend look for a place in the area and I dont know if its because its December but the prices seem way under what I had to deal with last March. Theres a 2bed on Underhill for 1725 thats shes going to look at today. It also seems there are more cheap studios opening up in the 1200-1400 range. That was impossible to find a year ago.

outside of brooklyn I was really suprised at the number of cheap studios in manhattan right now. Theres shitloads of stuff in the 1300 range on the upper east and west side along with downtown. I remember a friend moved to Windsor Terrace because it was the only thing he could find for 1300 at the time that was decent and close to the subway. I think this was a year and a half ago.

Prices are cheaper in Manhattan than Brooklyn (the nicer parts) right now.

They will level off when people start moving back from BK and then they will start dropping again as that plays itself out and the overall demand slackens.

At some point in there BK will start dropping as well.

Lo Kee wrote: The vacancy rate will reach 4.7 percent, topping the previous record of 4 percent in the fourth quarter of 2003, the firm determined in its 2009 National Apartment Report."

Ahh yes, but according to the Law of Probable Dispersal, whatever hits the fan will not be evenly distributed.

Sigh.

Yes, good point. All of us living in amenties high rises in Manhattan and paying $3,000 a month might see a slight increase.

I give up.