It’s not that Brooklyn is getting more expensive: it’s that Manhattan is expanding. Why?
Home prices in some of the city’s neighborhoods have not just climbed over the last decade, they’ve blasted off, landed on Mars and found water.
Why? Well, look at where the growth is, and then look at this map of the NYC Subway:
More than other factors, the price of real estate seems is tied to how easy it is to get back and forth from Manhattan.
That said, I’d be interested to know the story behind the areas of Manhattan that are stagnating.
NYC is never boring.
Source: New York Home Prices | New York Real Estate Price History
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