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Author Topic: How will COVID-19 Affect the Real Estate Market?  (Read 8730 times)

Offline BOT

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Re: How will COVID-19 Affect the Real Estate Market?
« Reply #30 on: April 15, 2020, 02:19:39 PM »
What I don't understand is our neighborhoods being in the epicenter of the epicenter, when they decided to place a testing site in Queens, they put it in Jamaica. Shouldn't they put it here ?? It seems to me even now, we still still being neglected by the public officials.
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Offline abcdefghijk

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Re: How will COVID-19 Affect the Real Estate Market?
« Reply #31 on: April 15, 2020, 06:41:11 PM »
Quote from: r on April 15, 2020, 05:16:02 AM
Jackson Heights might actually be one of the safest places in NYC if there is another pandemic, because everyone will remember this one and be prepared, instead of not taking it seriously for several weeks...

I think the main thing is that Elmhurst Hospital needs more funding and an expansion, or more hospitals need to be built or reopened. Queens in general needs a lot more hospital beds.

No-one in ALL OF NYC and actually THE ENTIRE WORLD (not simply in JH) will forget this predicament.
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Offline abcdefghijk

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Re: How will COVID-19 Affect the Real Estate Market?
« Reply #32 on: April 15, 2020, 06:52:32 PM »
Quote from: BOT on April 14, 2020, 11:40:54 PM
Just an analysis of our surrounding neighborhoods, a simple risk calculation on my part, not making any judgments. No need to get into a tizzy.

The beauty of New York is that all of New York welcomes everybody. Every person is essential.
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Offline lalochezia

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Re: How will COVID-19 Affect the Real Estate Market?
« Reply #33 on: April 15, 2020, 07:20:37 PM »
Quote from: abcdefghijk on April 15, 2020, 06:52:32 PM
Quote from: BOT on April 14, 2020, 11:40:54 PM
Just an analysis of our surrounding neighborhoods, a simple risk calculation on my part, not making any judgments. No need to get into a tizzy.

The beauty of New York is that all of New York welcomes everybody. Every person is essential.

While I agree with the 2nd part of your sentence abcdefghijk, the first part? That's some panglossian bullshit right there.
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Offline abcdefghijk

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Re: How will COVID-19 Affect the Real Estate Market?
« Reply #34 on: April 15, 2020, 08:36:36 PM »
Quote from: lalochezia on April 15, 2020, 07:20:37 PM
Quote from: abcdefghijk on April 15, 2020, 06:52:32 PM
Quote from: BOT on April 14, 2020, 11:40:54 PM
Just an analysis of our surrounding neighborhoods, a simple risk calculation on my part, not making any judgments. No need to get into a tizzy.

The beauty of New York is that all of New York welcomes everybody. Every person is essential.



While I agree with the 2nd part of your sentence abcdefghijk, the first part? That's some panglossian bullshit right there.

Not interested in replying to this.
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Offline dssjh

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Re: How will COVID-19 Affect the Real Estate Market?
« Reply #35 on: April 16, 2020, 08:00:19 PM »
Quote from: abcdefghijk on April 15, 2020, 08:36:36 PM
Quote from: lalochezia on April 15, 2020, 07:20:37 PM
Quote from: abcdefghijk on April 15, 2020, 06:52:32 PM
Quote from: BOT on April 14, 2020, 11:40:54 PM
Just an analysis of our surrounding neighborhoods, a simple risk calculation on my part, not making any judgments. No need to get into a tizzy.

The beauty of New York is that all of New York welcomes everybody. Every person is essential.



While I agree with the 2nd part of your sentence abcdefghijk, the first part? That's some panglossian bullshit right there.

Not interested in replying to this.

then why did you reply to it?
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Offline abcdefghijk

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Re: How will COVID-19 Affect the Real Estate Market?
« Reply #36 on: April 16, 2020, 09:35:21 PM »
Quote from: dssjh on April 16, 2020, 08:00:19 PM
Quote from: abcdefghijk on April 15, 2020, 08:36:36 PM
Quote from: lalochezia on April 15, 2020, 07:20:37 PM
Quote from: abcdefghijk on April 15, 2020, 06:52:32 PM
Quote from: BOT on April 14, 2020, 11:40:54 PM
Just an analysis of our surrounding neighborhoods, a simple risk calculation on my part, not making any judgments. No need to get into a tizzy.

The beauty of New York is that all of New York welcomes everybody. Every person is essential.



While I agree with the 2nd part of your sentence abcdefghijk, the first part? That's some panglossian bullshit right there.

Not interested in replying to this.

then why did you reply to it?

Irony.
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Offline STomkiewicz

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Re: How will COVID-19 Affect the Real Estate Market?
« Reply #37 on: April 21, 2020, 08:14:33 PM »
So here's an article just published by the StreetEasy blog, which actually has some data. It's mostly just conjecture at this point since we're still in the midst of the crisis in this region, and StreetEasy's data is always skewed by the Manhattan marketplace.

https://streeteasy.com/blog/covid-19-impact-nyc-home-prices/
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Offline dssjh

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Re: How will COVID-19 Affect the Real Estate Market?
« Reply #38 on: April 22, 2020, 09:51:31 AM »
a good article, and interesting data. but signs are pointing to a much longer, much deeper economic downturn -- a lot of insiders are using the word "depression," not recession. we already have unemployment levels that most of us have never seen, and i've seen several articles from experts surmising that 40-50 percent of "temporarily" closed businesses will not reopen.

hoping that's overly pessimistic, of course, but i'm concerned.
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Offline hum@njukebox1

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Re: How will COVID-19 Affect the Real Estate Market?
« Reply #39 on: April 22, 2020, 04:01:10 PM »
My one-bedroom in the Greystones would go for @ $500 in the Great Depression.  I hope prices don't fall that much! :'(
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Offline Rice

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Re: How will COVID-19 Affect the Real Estate Market?
« Reply #40 on: April 28, 2020, 09:29:53 AM »
Considering about half of all small businesses are going to fail by year end one can easily predict a real estate crash of epic proportions, both residential and commercial.  Prices will drop by precipitously before this is over.
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Offline abcdefghijk

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Re: How will COVID-19 Affect the Real Estate Market?
« Reply #41 on: April 30, 2020, 11:01:23 AM »
Quote from: Rice on April 28, 2020, 09:29:53 AM
Considering about half of all small businesses are going to fail by year end one can easily predict a real estate crash of epic proportions, both residential and commercial.  Prices will drop by precipitously before this is over.

Dollar Stores might be the only viable businesses that make it thro this crisis.
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Offline CaptainFlannel

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Re: How will COVID-19 Affect the Real Estate Market?
« Reply #42 on: April 30, 2020, 01:37:57 PM »
Quote
Ultimately, whether to buy or sell a home is a personal decision.

Not if the sale is an estate sale. How many of those will be on the market soon?
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Offline dssjh

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Re: How will COVID-19 Affect the Real Estate Market?
« Reply #43 on: May 02, 2020, 02:36:51 PM »
i know this is going to sound morbid, and that's not my intention, but....i've gone to a number of "estate sales" at apartments of people who passed away, generally conducted by relatives. with the citywide likelihood of people dying, possibly alone, there will be homes and apartments filled with possessions. would stoop sale veterans be willing to brave those in the coming year? i'm not sure i would....
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Offline CaptainFlannel

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Re: How will COVID-19 Affect the Real Estate Market?
« Reply #44 on: May 04, 2020, 06:49:31 AM »
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there will be homes and apartments filled with possessions.

I don't know that's necessarily a negative. Once you remove the clutter, personal items, and donate the things that family isn't likely to take (e.g. clothing in the closets) you have a staged apartment.

I don't think anyone (including coop boards) should hold their breaths expecting to sell quickly or at the price it would have sold at a couple months ago. Adjustments will likely have to be made to each building's minimum sales price.
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