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Re: DT Jersey City Real Estate Market?!
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Do your Manhattan friends not invite you to these events anymore, now that you live a whole mile away with 24 hour transportation? :)

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VA2015 wrote:
I would rather live in JC that NYC even though I could afford either. For one I am cheap and everything involving cost of living is higher there. I need to have some actual cheap stores accessible to me - I'm a Goodwill, discount grocery store kind of gal. JC has that along with a reasonable amount of culture - enough to have stuff to do but not so much it's overwhelming. In NYC there are always 10 things going on, with friends trying to get you to go to lots of different things, and I find it draining. I also find the apartment sizes claustrophobic in the city, combined with all the hustle and bustle on the street, crowds and noise pollution - you aren't shoulder to shoulder on any sidewalk in JC. I also don't like the loneliness of NYC, that you can so easily be anonymous most places you go - anywhere I go in JC I recognize people, they recognize me, I feel like part of a community.

Posted on: 2013/2/20 19:58
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Re: DT Jersey City Real Estate Market?!
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Crazy_Chester wrote:
The WSJ has an article today:

Of note:

"They're pushing tenant occupancy over homeownership," said John Taylor, chief executive of the National Community Reinvestment Coalition, a Washington-based consumer-advocacy group. "Having someone guarantee that renters will be there for a long time depresses values and makes it much harder for people to recoup lost equity and stabilize neighborhoods."


http://online.wsj.com/article/SB10001 ... od=WSJ_hpp_LEFTTopStories



Interesting article. Also of note:

"Defenders of outside investment groups say they help markets get healthy. "Investors are a huge benefit to the market in that they help work off that excess inventory through transferring them to rentals while owner-occupant demand rebuilds," said Doug Duncan, chief economist for Fannie Mae."

Posted on: 2013/2/20 19:47
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Re: DT Jersey City Real Estate Market?!
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I don't make enough to own the same type of place in Brooklyn or NYC as I do in JC, but even if I did, I would still choose JC. It's low key, friendly, and just a path ride away from the hustle if I want it. And all my family lives south, so my travel times dropped by an hour when I moved from Brooklyn.
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VA2015 wrote:
I would rather live in JC that NYC even though I could afford either. For one I am cheap and everything involving cost of living is higher there. I need to have some actual cheap stores accessible to me - I'm a Goodwill, discount grocery store kind of gal. JC has that along with a reasonable amount of culture - enough to have stuff to do but not so much it's overwhelming. In NYC there are always 10 things going on, with friends trying to get you to go to lots of different things, and I find it draining. I also find the apartment sizes claustrophobic in the city, combined with all the hustle and bustle on the street, crowds and noise pollution - you aren't shoulder to shoulder on any sidewalk in JC. I also don't like the loneliness of NYC, that you can so easily be anonymous most places you go - anywhere I go in JC I recognize people, they recognize me, I feel like part of a community.

Posted on: 2013/2/20 19:30
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Re: DT Jersey City Real Estate Market?!
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I would rather live in JC that NYC even though I could afford either. For one I am cheap and everything involving cost of living is higher there. I need to have some actual cheap stores accessible to me - I'm a Goodwill, discount grocery store kind of gal. JC has that along with a reasonable amount of culture - enough to have stuff to do but not so much it's overwhelming. In NYC there are always 10 things going on, with friends trying to get you to go to lots of different things, and I find it draining. I also find the apartment sizes claustrophobic in the city, combined with all the hustle and bustle on the street, crowds and noise pollution - you aren't shoulder to shoulder on any sidewalk in JC. I also don't like the loneliness of NYC, that you can so easily be anonymous most places you go - anywhere I go in JC I recognize people, they recognize me, I feel like part of a community.

Posted on: 2013/2/20 19:26
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Re: DT Jersey City Real Estate Market?!
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The WSJ has an article today:

Of note:

"They're pushing tenant occupancy over homeownership," said John Taylor, chief executive of the National Community Reinvestment Coalition, a Washington-based consumer-advocacy group. "Having someone guarantee that renters will be there for a long time depresses values and makes it much harder for people to recoup lost equity and stabilize neighborhoods."


http://online.wsj.com/article/SB10001 ... od=WSJ_hpp_LEFTTopStories


Posted on: 2013/2/20 19:01
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Re: DT Jersey City Real Estate Market?!
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Dahood wrote:
Owning a car without any hassle is a major factor for living on this side of Hudson.


This is one of the incentives that made me decide to move to JC I grew up in the burbs and have family in Bergen county and in the Philly area. It's easier to get to these places by car than mass transit.

Posted on: 2013/2/18 15:41
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Re: DT Jersey City Real Estate Market?!
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Owning a car without any hassle is a major factor for living on this side of Hudson.

Posted on: 2013/2/18 4:04
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Re: DT Jersey City Real Estate Market?!
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Just my 2 cents, my family lived in a cool part of Brooklyn, we were pretty happy there. We had friends who lived here in JC and when we came here we just really fell in love with the area. Our friends said we were crazy and made all sorts of 'Jersey' jokes but we could not be swayed! The area is unhyped, pretty, just the right amount of city mixed with small town. Two thumbs up for JC :) and I would not trade my place here for a place in NYC

Posted on: 2013/2/18 2:48
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Re: DT Jersey City Real Estate Market?!
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People are friendlier and less smug in Jersey City.

Posted on: 2013/2/18 1:58
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Re: DT Jersey City Real Estate Market?!
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CdeCoincy wrote:

What do people think they will find in Brooklyn that they can't find here?


How about a multitude of great restaurant options, different subway lines, loads of art and entertainment, bridges that enable one to bike rather than be forced to pay for mass transit...should I go on?


Posted on: 2013/2/18 1:39
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Re: DT Jersey City Real Estate Market?!
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http://www.nytimes.com/2013/02/17/fas ... york.html?ref=todayspaper

Here's yet another alternative - Hip Suburbs. Apparently people are leaving Brooklyn for towns on the Hudson, Montclair, etc.

I like living in DTJC a lot. I would not live in any other part of JC, however. I think more than anything else it's because I own a house and garden in a neigborhood that is both charming and friendly. No one tap dancing on my head, etc. I have alternatives - a 2 bedroom coop in Manhattan that I rent out and an apartment in Paris that I use once or twice a year and offer to friends other times. What do people think they will find in Brooklyn that they can't find here?

Posted on: 2013/2/18 1:30
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Re: DT Jersey City Real Estate Market?!
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Why do people keep mentioning queens like it is a hotspot? Its not Brooklyn. Aside from Astoria and maybe LIC its way lamer than living in jc.

I love living in JC. It is my calm. I do not want to live in Manhattan and I sure as hell dont want to live in Brooklyn. I think this is a hard concept for some people. I want to live here. My best friend lives in bushwick wouldn't live anywhere else i feel the same way about JC. Everyone is different and looks for different things. I want walkable living without all the chaos. I wanting to have a car and I really do not want to pay city tax! Its pretty here and I like my apt. I don't go out all the time nor do I want to. I don't feel a need to have every one think I'm cool.

I really think if u could bike to jc people would view living here differently. People also need to get over this crazy ass view that some how jersey is any worse than anywhere else in the tristate area. I grew up on LI and always thought jersey was terrible. Its the same as the rest of the area u just can't buy beer at 711 and left turns are done in a strange fashion in the burbs.

Posted on: 2013/2/18 0:47
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Re: DT Jersey City Real Estate Market?!
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Anyway, also want to mention that I started chiming in the thread because I find that Jersey City is becoming expensive for a single-income family with kids (on the presumption of owning a property - therefore paying property taxes, and needing to send the kids to private school).

Posted on: 2013/2/18 0:44
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Re: DT Jersey City Real Estate Market?!
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SRhia wrote:
I'm sorry if I come across rude or arrogant, that was not my intention.

I just want to point out this so called "I chose to live in JC, even though I could afford to live in NYC" statement, which I find not 100% correct. Like many others who have voiced it, I think we - myself included - chose to live in JC because we could not afford it - sometimes not strictly in the sense of income vs expense, but we find it a "waste of money" to spend $3000 per month on a studio, where I could rent a 2bedroom here for the same amount of money. However, if I were to make $1 million / year or so, I would think that $3000 (or even $5000) would be a drop in the bucket.

I like living in Jersey City, been here for 10+ years, and I'm happy to be raising my kids here. However, if I want to do something, I always find myself in the city. Jersey City still has a long way to go. Let's be honest about it.

Like I mentioned previously, if I could afford it, I would not be here. At least I'm honest about it.

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Kelcey wrote:
Sorry to be kind of snarky, but I look forward to you being able to afford to move. It must be awful having to slum it with those of us who actually like living here and being part of our neighborhoods.


why are you apologizing? It's like someone apologizing for saying 1+1 is 2. They should be apologizing to you...

Posted on: 2013/2/18 0:42
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Re: DT Jersey City Real Estate Market?!
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I'm sorry if I come across rude or arrogant, that was not my intention.

I just want to point out this so called "I chose to live in JC, even though I could afford to live in NYC" statement, which I find not 100% correct. Like many others who have voiced it, I think we - myself included - chose to live in JC because we could not afford it - sometimes not strictly in the sense of income vs expense, but we find it a "waste of money" to spend $3000 per month on a studio, where I could rent a 2bedroom here for the same amount of money. However, if I were to make $1 million / year or so, I would think that $3000 (or even $5000) would be a drop in the bucket.

I like living in Jersey City, been here for 10+ years, and I'm happy to be raising my kids here. However, if I want to do something, I always find myself in the city. Jersey City still has a long way to go. Let's be honest about it.

Like I mentioned previously, if I could afford it, I would not be here. At least I'm honest about it.

Quote:

Kelcey wrote:
Sorry to be kind of snarky, but I look forward to you being able to afford to move. It must be awful having to slum it with those of us who actually like living here and being part of our neighborhoods.

Posted on: 2013/2/18 0:36
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Re: DT Jersey City Real Estate Market?!
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SRhia wrote:
For all of you who "choose" to live in Jersey City even though you could afford NYC: if you could find a same (or similar) sized apartment in NYC for the SAME price that you pay in Jersey City, would you still live in JC, or would you move to NYC?

For me, if I could find a 1100 Sq Ft 2 bedroom in NYC for around 600K to 800K (condo, not co-op), I would move to NYC (and I don't mean places in Harlem / yonkers / astoria / etc, but "nice places" like downtown/soho/midtown/ues/uws) - so much more options for entertainment / food / kids activities, and no need to trek back to Jersey City late night / on the weekends on the PATH train.

Yes, to answer tommyc_37's question, I do believe if the prices are comparable, people would rather live in NYC. Isn't this why we are all huddled together in Jersey City today, because it's cheaper yet so close???


the answer is of course yes. If a 2 br cost as much in JC as in NYC, there would be no question that 99% of people would want to live in NYC. It is the epicenter of the world. Anyone with any common sense would want to live in NYC over JC, everything being equal.

Anyone who answers you in the negative is lying to you.

I can believe a family saying that they would rather live in the burbs over NYC cause of the schools but JC does not have great, good, or even decent public schools (outside magnet ones like McNair).

Posted on: 2013/2/18 0:35
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Re: DT Jersey City Real Estate Market?!
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Sorry to be kind of snarky, but I look forward to you being able to afford to move. It must be awful having to slum it with those of us who actually like living here and being part of our neighborhoods.

Posted on: 2013/2/18 0:24
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Re: DT Jersey City Real Estate Market?!
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For all of you who "choose" to live in Jersey City even though you could afford NYC: if you could find a same (or similar) sized apartment in NYC for the SAME price that you pay in Jersey City, would you still live in JC, or would you move to NYC?

For me, if I could find a 1100 Sq Ft 2 bedroom in NYC for around 600K to 800K (condo, not co-op), I would move to NYC (and I don't mean places in Harlem / yonkers / astoria / etc, but "nice places" like downtown/soho/midtown/ues/uws) - so much more options for entertainment / food / kids activities, and no need to trek back to Jersey City late night / on the weekends on the PATH train.

Yes, to answer tommyc_37's question, I do believe if the prices are comparable, people would rather live in NYC. Isn't this why we are all huddled together in Jersey City today, because it's cheaper yet so close???

Posted on: 2013/2/17 23:35
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Re: DT Jersey City Real Estate Market?!
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immigrationlawyer wrote:

Agreed. It's such a short sighted proposition. Many could live in Brooklyn or Hoboken as well.

Jersey City is not an international city but it's literally 5 minutes from one on public transportation that affords individuals certain benefits that those individuals cannot obtain living elsewhere, whether it's bc of cost, quality of life, space, location, maintenance of 1+ cars, etc.

It's a combo of factors.

I agree, I can afford to live in NYC, I did for 10 years, a beautiful 1 br in Chelsea with a working fireplace and unobstructed southern exposure in all the windows. But after a while the space felt claustrophobic and I moved to JC to a 2br/2bth also with unobstructed southern exposure. I can be in the city in 15 min and see my friends who are still in Chelsea.

Posted on: 2013/2/17 18:52
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Re: DT Jersey City Real Estate Market?!
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tommyc_37 wrote:
SHRhia, why would you assume that somebody would automatically prefer to live on NYC over JC if they could afford it?

Many if not most people I know in JC can afford to live in Manhattan.


Agreed. It's such a short sighted proposition. Many could live in Brooklyn or Hoboken as well.

Jersey City is not an international city but it's literally 5 minutes from one on public transportation that affords individuals certain benefits that those individuals cannot obtain living elsewhere, whether it's bc of cost, quality of life, space, location, maintenance of 1+ cars, etc.

It's a combo of factors.

Posted on: 2013/2/17 14:59
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Re: DT Jersey City Real Estate Market?!
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SHRhia, why would you assume that somebody would automatically prefer to live on NYC over JC if they could afford it?

Many if not most people I know in JC can afford to live in Manhattan.

Posted on: 2013/2/16 16:54
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Re: DT Jersey City Real Estate Market?!
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malcontent wrote:

There is still a huge difference in what $1 million will buy you in NYC vs JC. Also, I think NYC is now overrated. I know I will be flamed into oblivion for uttering such blasphemy. It is just my personal opinion; please don't hate...

It's only overrated if you can't afford it, people have been saying this for a long time. NY is still cheaper than other major international cities such as London, Paris and Hong Kong. Jersey City is not an international city.

Posted on: 2013/2/16 16:07
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Re: DT Jersey City Real Estate Market?!
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things are relative....in 1998 my 250k mortgage was $2100 a month..now $2100 is the approx monthly payment on a 600k property.

rate 2013 approx 3.75%

1998 rate 8.25%


Posted on: 2013/2/16 15:46
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Re: DT Jersey City Real Estate Market?!
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I went to the 294 8th street open house and thought it was nice. Outside the Aussies (who have cash), anyone looking for these kind of houses these days must have BANK or a great job or something b/c getting a new mortgage these days is a pain in the A!*.

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Quote:

JC_GeeGee wrote:
Quote:

bearbear wrote:
And we just saw that 296 8th Street is now on the market too but at $1.1 mil asking that's not in our wheelhouse!


296 8th street is now Under Contract. I wonder for how much.

136 Erie is also on the market for $1.1 million.

Is this the price of a brick rowhouse/brownstone these days!?!?


294 8th sold for $930k to the Aussies, and it's only a 16x50 lot!

Posted on: 2013/2/16 13:43
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Re: DT Jersey City Real Estate Market?!
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SRhia wrote:
If I knew, I wouldn't be asking the question, would I?

Yes, it is mysterious to me. I know lots of people make lots of money - but wouldn't these people want to live in NYC rather than jersey city, if they obviously could afford it? Or even Brooklyn (like Dumbo and such) and queens??? I know I would, in a heart beat, if I could afford that.

With a millon-dollor brownstone, heck, even the two bedrooms now cost upwards of 600K, plus kids possibly in private school / expensive daycare, that's a lot of fixed expenses per month. It boggles my mind...

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Quote:

SRhia wrote:
with real estate prices like these, how are families with child(ren) surviving on single income here? I'm so perplexed!?!??!

I recently lost my job and is staying home at the moment, so we're surviving on my husband's income only - and we're living paycheck to paycheck pretty much. Yet I seen lots of moms with their kids during the day, so I assume lots of families are on single income. But how do they do it???


Is it really so mysterious? Do you not read the papers and hear that some people make a LOT more money than others? If daddy pulls in several hundred K, mommy doesn't have to work, or even clean that nice big town house. Some of them are even quite nice people, in fact the pretentious assholes aren't generally attracted to brownstone Downtown. Yet.


The taxes in Manhattan are terrible. Property taxes here are terrible but taxes on your salary in Manhattan are bad. If you're smart with $$ and work in NJ you may not want to be dinged in to oblivion by using your $$ in NYC for a property.

Posted on: 2013/2/16 5:49
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Re: DT Jersey City Real Estate Market?!
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Yes, it is mysterious to me. I know lots of people make lots of money - but wouldn't these people want to live in NYC rather than jersey city, if they obviously could afford it? Or even Brooklyn (like Dumbo and such) and queens??? I know I would, in a heart beat, if I could afford that.


There is still a huge difference in what $1 million will buy you in NYC vs JC. Also, I think NYC is now overrated. I know I will be flamed into oblivion for uttering such blasphemy. It is just my personal opinion; please don't hate...

Posted on: 2013/2/16 4:20
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Re: DT Jersey City Real Estate Market?!
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If I knew, I wouldn't be asking the question, would I?

Yes, it is mysterious to me. I know lots of people make lots of money - but wouldn't these people want to live in NYC rather than jersey city, if they obviously could afford it? Or even Brooklyn (like Dumbo and such) and queens??? I know I would, in a heart beat, if I could afford that.

With a millon-dollor brownstone, heck, even the two bedrooms now cost upwards of 600K, plus kids possibly in private school / expensive daycare, that's a lot of fixed expenses per month. It boggles my mind...

Quote:

brewster wrote:
Quote:

SRhia wrote:
with real estate prices like these, how are families with child(ren) surviving on single income here? I'm so perplexed!?!??!

I recently lost my job and is staying home at the moment, so we're surviving on my husband's income only - and we're living paycheck to paycheck pretty much. Yet I seen lots of moms with their kids during the day, so I assume lots of families are on single income. But how do they do it???


Is it really so mysterious? Do you not read the papers and hear that some people make a LOT more money than others? If daddy pulls in several hundred K, mommy doesn't have to work, or even clean that nice big town house. Some of them are even quite nice people, in fact the pretentious assholes aren't generally attracted to brownstone Downtown. Yet.

Posted on: 2013/2/16 3:55
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SRhia wrote:
with real estate prices like these, how are families with child(ren) surviving on single income here? I'm so perplexed!?!??!

I recently lost my job and is staying home at the moment, so we're surviving on my husband's income only - and we're living paycheck to paycheck pretty much. Yet I seen lots of moms with their kids during the day, so I assume lots of families are on single income. But how do they do it???


Is it really so mysterious? Do you not read the papers and hear that some people make a LOT more money than others? If daddy pulls in several hundred K, mommy doesn't have to work, or even clean that nice big town house. Some of them are even quite nice people, in fact the pretentious assholes aren't generally attracted to brownstone Downtown. Yet.

Posted on: 2013/2/16 3:08
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with real estate prices like these, how are families with child(ren) surviving on single income here? I'm so perplexed!?!??!

I recently lost my job and is staying home at the moment, so we're surviving on my husband's income only - and we're living paycheck to paycheck pretty much. Yet I seen lots of moms with their kids during the day, so I assume lots of families are on single income. But how do they do it???

Posted on: 2013/2/16 2:51
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These prices do not seem impressive to me. A row house just off Hamilton Park for about $1 million is completely normal.

Posted on: 2013/2/16 2:12
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