Bubble Wrap: June 2008
Entries
Hoboken Weathers the Market
The NYTimes describes the Hoboken real estate market as still humming along, with new developments still selling out, yet at a slower pace.
Hoboken was often held up as the prime example of the booming real estate market, and now it appears that the city is showing that it can hold its own in a down market, too.
They Love (the New) Brooklyn
The NYTimes describes a new breed of Brooklyn renters looking for Manhattan-like apartments and finding it in Brooklyn. These renters have saved many developers from the over supply of new condos.
While condominium developers across the country are trying to unload thousands of apartments that they can’t sell, some builders in Brooklyn have found the real estate equivalent of a golden parachute. Having turned their new units into high-priced rentals, they have found a surprising number of eager takers.
Newark Making Strides
AMNY has a great article detailing the enormous change underway in Newark. With bargain prices, Newark real estate is starting to attract buyers priced out of New York.
It’s definitely a buyer’s market these days in Newark. Foreclosures and short sales are making it easier, and most importantly, cheaper, for anyone to buy a home in Newark. Young people are moving to the city in droves—specifically to the Ironbound neighborhood, which is considered one of the safest areas in Newark.
