NYC is DONE
NYC is DONE
Out of context: Reply #25
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- nb0
Right, the article and study mentioned that people are leaving Manhattan and SF, but otherwise cities are stable. The spike in sales is attributed to a rebound after the market was sort of “frozen” in the early months of covid.
I will admit the study focuses on sales and not rentals, so there is some uncertainty or at least obscurity.
It also “feels” to me like people are leaving but... on my street in Brooklyn, only two families are moving this summer: one is moving within Brooklyn and the other to LA. No one my street has left. My neighbor owns a handful of walk up apartment buildings in Brooklyn.
I want to ask him how it’s “really” going but it’s a little personal and I don’t want to be rude.
- The only other family on my street to move was right at the start of covid, and they moved within Brooklyn too. No one on my street left.nb
- Anecdotal, sure, but so is your story so I just wanted to counter.nb
- You’re talking to me? My anecdote is about manhattan not Brooklyn. In Manhattan the exodus is real. My new neighborhood is mostly transplants.monospaced
- MAJOR bidding wars on any house under a million here now. 100% covid related frenzy and it is statistically significant.monospaced
- Real estate agents in the area here are going nuts. This is big and it is real. Not being rude but the rush to the burbs is very much a thing.monospaced
- Yes, but it’s a short term boom. Two factors: no one bought for a couple months and people who planned to move “in the next few years” have pulled the trigger.nb