With the latest horrendous reports of breakdown of the real estate market, the future is uncertain. The NY Times had the reports of California and Florida, where boom towns like Mountain View, Ca. and places near Ft. Meyers, Fla. have houses that have gone from $300,000 to $100,000, which is a pretty big drop, plus there is little employment in these areas. The South Bronx and Mott Haven is supposed to be hot (link) but this sounds like a self-serving announcement.
The party is still supposed to be on for Kelly's Furniture store, on Bruckner Blvd, by Lincoln Ave. It is true that this neighborhood and shopping district is a short drive over the bridge from Manhattan and also has quick subway service fairly close. It is a lot cheaper than renting a $3,000 loft in Manhattan, but remember, the trends of the last five years mean nothing now that the bubble has popped.
Monday, February 9
Real Estate What Next
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