What will Brooklyn look like in 15 years?

amother

Peach

Mon, Nov 27 2017, 10:51 am

It seems that nobody moves into Brooklyn from elsewhere. The only people who even consider staying in Brooklyn are those that grew up there and have all their relatives there. Even many of them can't afford a 3 bedroom attached house with no parking for $850,000, and if they do have $850k, they figure they get so much more elsewhere they still don't buy in Brooklyn. Am I mistaken about this? Are there first time home buyers around 30 years old, purchasing small homes in what's considered to be the center of Flatbush for close to a million? Is it possible Brooklyn will become an aging population of people who bought long ago, and maybe sephardim who can still afford it?

southernbubby

Mon, Nov 27 2017, 11:00 am

amother wrote:

Crown Heights got lots of millenials who couldn't afford Manhattan and Bedford Stuyvesant has a lot of hipsters. Most are renting, however and it is possible that in 15 years in Brooklyn, single family homes will be torn down and rebuilt as multi family condos.

amother

Orchid

Mon, Nov 27 2017, 11:01 am

I just bought a house in center of Brooklyn. It’s very hard to buy here and the only thing we are getting is location. But I wouldn’t give it up for anything. My community is here , my family and friends.
Many Young people in my community are starting to buy. Small houses but it’s still something.

rgr

Mon, Nov 27 2017, 11:03 am

You don't have to look far into history to see the migration of neighborhoods. Look at the Lower East Side, then Williamsburg, East Flatbush, Boro Park, Lakewood.

Relatively speaking change happens pretty quickly.

(I might be missing some neighborhoods, disclaimer I am aware there are communities other than the tri state area)

amother

Peach

Mon, Nov 27 2017, 11:10 am

amother wrote:

Are you a first time homeowner? If you bought in the center of bklyn, you must have paid at least 800k for a small house. Is your area full of young families buying and moving in? Are you Sephardic?

leah233

Mon, Nov 27 2017, 11:15 am

This is harder to predict than it seems. Even in the seventies there were already predictions of the frum community in Brooklyn not lasting too much longer. When my in laws bought their house in Kensington (circa 1975) they did so with the expectation that neighborhood will only be safe for another ten years. Twenty five years ago when Dinkins was the mayor, crime was rampant etc. everyone I knew was convinced that in twenty years from then (five years ago) other than a few elderly people who couldn't move there would no longer be a frum community in NYC. (Had Dinkins won a second term there indeed probably wouldn't. )

In the end the demographics in Brooklyn like the demographics everywhere else will change but it will still be around. My predication is people will then be talking about terrible Lakewood is and for how much longer will young people still be buying there...

amother

Wheat

Mon, Nov 27 2017, 11:46 am

The whole Brooklyn full of the rich. I picture Boro park being exclusively rich Chassidish people. No more poor people living side by side. Its not just the housing but the whole lifestyle. There is also old people living there too, but some are moving to wherever their children currently live. Kensington might change the least. Some are moving to Lakewood. And some poorer Chassidish families are moving in but for the most part, its a mixture of Chassidish, Litvish and Yeshvish people. Poorer neighborhood. People own old homes but are happy where they live. Flatbush I hear a lo.t of Yeshivish people moved to Lakewood. a part of Flatbush has Sfardim living in it but not everything. I saw many flatbush families along ocean parkway. and center flstbush avenue M maybe And More people are moving to marine park its becoming a MO neighborhood of also mostly rich people.
I don't live in Brooklyn. My response is based on my visits, and people I know living in these different areas ,and people who moved to my neighborhood.

amother

Yellow

Mon, Nov 27 2017, 11:54 am

southernbubby wrote:

But it is hard to justify spending $800K on a house that would be about $150K somewhere else. That is one of the reasons for relocating to the suburbs, that is, if jobs are available.

Lol there aren't jobs available in the locales with houses going for $150k. If there would be don't you think we would have all already moved en masse?

amother

Peach

Mon, Nov 27 2017, 11:55 am

amother wrote:

Who really knows, maybe you will be proven correct, but it seems unlikely that Brooklyn will be the landing spot of the rich. Brooklyn has a irreversible problem with clutter. The houses are simply not spaced out and result in overcrowding. This is particularly true in the areas around Coney Island and Ave M and a mile in any direction from that point. I'm not sure if wealthy people want share driveways, attached houses, no parking, ect. These issues will never go away and can easily be avoided in other neighborhoods.

watergirl

Mon, Nov 27 2017, 12:04 pm

amother wrote:

Lol there aren't jobs available in the locales with houses going for $150k. If there would be don't you think we would have all already moved en masse?

Lol no jobs? What do you think we all do to support ourselves? Where do you get your information? The houses where I live go for $150,000. And I have a job. And there are always places hiring. Always. Dont fall for the idea that some things are only possible in Brooklyn. It a farce. And no, I dont think you would all move en masse. Didnt you see the amother upthread who said she wouldnt leave for anything? So that means a cheaper, bigger house and a job. She wont leave. And there are plently like her.

amother

Yellow

Mon, Nov 27 2017, 12:05 pm

watergirl wrote:

Lol no jobs? What do you think we all do to support ourselves? Where do you get your information? The houses where I live go for $150,000. And I have a job. And there are always places hiring. Always. Dont fall for the idea that some things are only possible in Brooklyn. It a farce. And no, I dont think you would all move en masse. Wasnt it you upthread who said you wouldnt leave for anything? So that means a cheaper, bigger house and a job.

First time I'm posting on this thread. Smile

Check the colors.

amother

Aqua

Mon, Nov 27 2017, 12:05 pm

amother wrote:

If they can only be rich by living in Brooklyn or with a crazy commute they will stay. I have a neighbor (in Lakewood) who spends five hours a day (yes FIVE hours) commuting to his job in downtown Brooklyn. I would take living in Brooklyn over a five hour commute any day. I have other unemployed neighbors who if they lived in Brooklyn with its greater job opportunities probably wouldn't be.

crust

Mon, Nov 27 2017, 12:10 pm

watergirl wrote:

Watergirl where are there houses for $150k AND jobs? I would seriously consider moving.

amother

Yellow

Mon, Nov 27 2017, 12:16 pm

watergirl wrote:

I did, and I edited. And I notice you ignored my point about all of the employed frum Jews who have $150,000 houses. And how job openings are aplenty.

We've crunched the numbers for various communities. For us personally pay in other locales would be significantly less and our financial lifestyle would be the same. Higher tuitions and food costs, lower housing and insurance costs, higher car expenses. If there was a benefit to moving we would but we won't exchange one set of problems for another.