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JennP
LIF Adult
Member since 10/06 3986 total posts
Name:
Jenn
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Speculating about market
Anyone have any thoughts about what COVID might do to the market?
I know it's early yet but I wanted to see if anyone wanted to speculate with me.
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Posted 5/20/20 9:47 PM  |
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w8andsee
LIF Adult
Member since 10/09 1193 total posts
Name:
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Re: Speculating about market
I've been house hunting and I noticed that prices have come down some since last summer. Houses that didn't sell last year just got relisted at a lower amount.
I don't think the price drop is just COVID related though.
My opinion, houses priced right in desirable neighborhoods are still going to sell just as fast as they did before COVID.
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| Posted 5/21/20 12:48 PM |
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PhyllisNJoe
My Box Is Broken
Member since 6/11 9145 total posts
Name:
Phyllis
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Re: Speculating about market
I originally was annoyed we didn’t sell last year when we are talking about it because I felt like the market was going to tank.
But then my FIL had a decent point, there are businesses that spend a ton renting office space in Manhattan.Now run their business most of the time remotely Just fine. They may want to move their main offices to The Boros or to LI, which would send the market higher
But who really knows what will be once this is all someone under control
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| Posted 5/22/20 9:14 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Speculating about market
I just read an article about how many NYC people are looking to relocate to long island as it is less dense. I wouldnt say i live in the most desirable, but houses are selling fast near me. Prices havent tanked yet.
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| Posted 5/27/20 9:40 PM |
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bunnyluck
LIF Adult
Member since 1/14 3196 total posts
Name:
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Speculating about market
Who really knows, but one driving force is the new reality of a virtual workforce. My NYC office is 5k professionals. We estimate about 50% can work going forward. Meaning, 2,500 will no longer be forced to commute to NYC or even live in the NYC area. Have to assume many may take their money elsewhere.
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| Posted 5/27/20 10:52 PM |
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ali120206
2 Boys
Member since 7/06 17792 total posts
Name:
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Speculating about market
The market in my area is still doing well - there is limited availability though of homes for sale.
I think what will be telling will be the fate of schools and the amount of tax increases that will be coming our way to pay for all of this.
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| Posted 5/28/20 7:56 AM |
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jellybean78
:)
Member since 8/06 13103 total posts
Name:
Mommy
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Re: Speculating about market
I read that a lot of NYC families are ready to leave the city. Cramped quarters and the school situation combined with COVID is just pushing them out faster especially now that most people are able to WFH. Not sure how many plan on moving to LI but I think the market will remain steady for the foreseeable future.
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| Posted 5/28/20 3:57 PM |
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