rental prices dropping?

whynot_31 wrote: I'd like to think rents will drop, but can't believe that folks are going to leave the city. ...it's not like there are good, well paying jobs somewhere else in the country.

Forget going somewhere else in the country, I'd leave the US. If you have a specific skill, most countries will give you a live&work visa, and as long as there's some demand somewhere for that skill, even in a downturn your chances are better if the whole world is your marketplace.

Ditto. I can't think of another country that needs a cynical non-profit worker as much as NY does. ..but Toronto is nice

I could dress in layers

Lo Kee wrote: 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.

D'oh.

bluecat wrote: So where are Park Slope rents since the stock market collapse? Would you say they dropped 5%, 10%, 15% since last year??? HAVE they dropped?

Park Slope rents are about the same, maybe 5% lower than last year from everything I've seen in the last month of apartment hunting - that's not to say that my search has been exhaustive yet.

Prospect Heights, on the other hand (since this is the PH board after all), seems to be stable. I saw rents dropping last Fall a little bit (maybe as much as 10%?) and they've stayed there according to the places I've scoped out recently. Then again, it depends on the age old question of neighborhood boundaries. I still have joker brokers trying to show me apartments on Dean & Rogers Ave as "prime Prospect Heights". It's ridiculous. I have nothing against Crown Heights, but when an apartment is in PH, it's in PH... and vice versa.

That said, if anyone knows of a 2 bdrm available in PH anytime in the next few months give me a shout. We're looking.

Prospect Heights rents haven't dropped at all... for actual Prospect Heights.

at first glance, they may look like they're lower and that there are good deals out there... but upon closer inspection, you'll see that all the listings saying "Prospect Heights" are actually Crown Heights.

and i'm not even talking the more minor exaggeration of Classon Ave being called PH. i've seen many listings for over on Rogers Ave being called PH. hell, i've seen listings that were down in Lefferts Gardens being called PH.

and it's not even just the brokers engaging in this bullshit. i've seen listings by owners that are just as fraudulent, if not more so.