Thursday, October 10, 2013

High Cost Of Brooklyn Housing


Brooklyn Home Prices Set 10-Year Record
The variation in the data in these short-term local reports is grossly misreported every quarter due to a number of factors that can strongly skew comparison (e.g. one hot new expensive project has a lot of sales in a given quarter).  That doesn't change the overall trend and basic fact that it has gotten outrageously expensive to live around here.
"The rise becomes more shocking when broken down by housing type and neighborhood. The average co-op in the combined area of Carroll Gardens, Boerum Hill and Red Hook, for example, now costs $937,000 — a remarkable 41 percent increase from the same quarter the year before, said the Post."
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