A walk back in time to 1990.

whynot_31

http://www.nytimes.com/1990/05/27/realestate/if-you-re-thinking-of-living-in-prospect-heights.html

erratum8mm

Fun Fact: After the real estate crash of the early 90s, Stephen B. Jacobs walked away from his investment, not finishing (or even starting) work on most of his Lincoln Pl. buildings.

prodigalson

How can any one afford to live in Brooklyn any more???

whynot_31

Many people can afford to live in Brooklyn because they used to live in Manhattan.

ehgee

prodigalson said:

How can any one afford to live in Brooklyn any more???

increasing inequality means more rich people too, and those rich people generally want to live around other rich people, not in cleveland— driving increasing demand and increasing prices in bougie brooklyn

Marco555

A number of buyers are foreign and don’t live here. They’re just looking for a safe place to rest their cash.

Barnstormer

Same as it ever was

whynot_31

Using slightly different language, one could likely have written that same article about a neighborhood on the outskirts of Paris in the 1200s.

prodigalson

I remember when retirees could afford to pay their rent even though they only lived on their Social Security checks. Looks like those days are long gone in Brooklyn.

deedee

Wow... it's wild to read this now. Things have changed so much in the neighborhood.