Why does Williamsburg seem to be the only neighborhood that isn't cheaper

So, having looked high and low in the month of January, I cna only offer this: whenever the price was ridiculously high for what was on offer, it ususally had to do with the landlord not quite catching on to the current economic reality. I kept thinking, "Yeah, maybe you could have rented this out two years ago at this price, but not any more." Still, some people seemed adamant, and weren't going to think of negotiating on the price.

Which I attribute to lack of ability to face reality. More than once I walked away laughing. Perhaps Willy people have a higher imaginative ability, and therefore a corresponding inability to deal with reality? Just a thought.

@Uraniumfish you're so right that the same logic I seem to apply to the landlords in the city who allow store fronts to sit empty for weeks /months rather than renting out the property at lower rents which are more in tune with current market conditions.

Yeah, seems silly to me too. But I think the minute they lower rents, they'll have a harder time raising them back up in the future, so it's all a hope game for now. I think I've said before that I don't see a miraculous uptick in the market in the next few months, and therefore agree with you, uptowngirl, that the most realistic thing to do is lower rents a little and fill those stores.

It is better to get some money than none at all. If the owners play it right, they can lower their rents, fill all vacancies, and later when the economy picks up, they can raise their rents accordingly.

I live in Bushwick and I haven't seen any rent decreases in the past year - if anything people seem to be asking for more money, and I agree with the above statements that this is because landlords and lease holders are completely delusional. I know someone who has lived in this neighborhood for ten years and he is trying to charge $850 - more than half the rent - for one bedroom in his three bedroom apt. My roommate, as we all know, is a bit of a profiteer of sorts as well, and I didn't think he could get someone to move into the third room for $800 (um, hello, we live right next to the elevated J train near both a Conway and a VIM!!), but it turns out he had his pick of takers. They both seem to think that these are reasonable prices for the area, when if fact...they aren't.

And Bushwick studios aren't much better - though there are some in the neighborhood of $900, I've seen some for much more than that that actually are feet away from the el train. Who would pay more to listen to that all night?

I'm tempted to say that prices aren't going down because of delusional/greedy landlords, but I also know from experience that people will often pay these crazy rates. Sometimes people don't have the time they'd like to look for a place and just settle for one that is available to them - and for some people it isn't easy to find a place to live, as there is a lot of competition if you don't have good credit or you are just looking to live with strangers on Craig's list who can understandably be very selective.

@BroadwayBK I recently rented a place for exactly the reason you said: I needed to move quickly, I had a lot to do, and I didn't have a lot of time to look carefully for the perfect apartment. I just took a place really fast and it is definitely only a place to get me through the next few months, and nothing more. When things settle down and I have time to look for an apartment I want to have for the long term, then you bet that I'll be very very picky. In this market, I can afford to be very very picky. What I'm saying is: maybe your greedy landlord got lucky for now, and will be lucky for some months more. But if the market continues to go downhill - or even if it stays at exactly this level for some more months - many apartment seekers will feel they can afford to be picky, and landlords will have to lower their standards accordingly.

My current landlord is extremely uptight about doing credit checks and proper paper work (he's very young and very nervous). And yet, he was so anxious to rent the place I took, that he pretty much waived the credit check and took my deposit as a good enough guarantee that I'm credit worthy. I think this is because he had trouble finding a tenant and I showed up at the last minute. Even if prices don't go down immediately, some of the standards for screening tenants might become a lot more realxed, as landlords notice that it's getting harder to get tenants to stay.

Ugh, how terrifying, @Broadwaybk! I'm glad I'm not in search of NYC housing right now. The situation sounds dreadful, and people are really just out to make a buck - with a mass domino effect that's making the quality of life worse for everyone. Greed is not good, people!

@uraniumfish I was discussing the issue about landlords with a group of girlfriends yesterday and they seemed to think that the landlords are perhaps entitled to some abatement or some tax relief if they show a 'loss' in the form of a vacant property. We were just speculating but maybe hhusted knows more since he has worked in the business?

It would be interesting to know how far an abatement would go, if that's an option for landlords. Because it wold probably have a time limit, after which you can't write it off any more.

A lot of rental listings I see in Williamsburg are for work spaces and studio spaces. I wonder how that could be a factor in how the residential units are priced?

No idea, @Dblack. But perhaps its indicative of the artists' cache that's make Wburg such a popular and expensive destination in the first place.

@hhusted seems like the landlords in NYC currently ( at least commercial landlords ) have a lot of holding power since they allow their properties to remain vacant for what seems like ages.

Anyone else see these guys last summer? http://gawker.com/5315688/the-heroin+addicted-hobo-invasion-of-williamsburg-has-begun

Guess those resident-less developments aren't so empty after all.

@BroadwayBK I enjoyed the tone of that article very much. Love the comments too, like the first one: "I'm glad we accept the $150/day figure, because hobos asking for meth money are very reliable sources."

@BroadwayBk I met an obnoxious finance type at a party recently who was boasting about the recent purchase of his 'incredible' Willyburg penthouse. I am sorely tempted to email the link to him.. on the other hand have been meaning to ask but didnt think it was appropriate. but here goes anyway... how do panhandlers manage to get on the subway? do they buy a card for $2.25 and ride the service all day transferring underground all the time as they hope to make more than their initial outlay or do they just jump the turnstiles at an unmanned station? I have often wondered about this...

I often see homeless people picking Metrocards up from the ground and swiping them. And there are certain stations where you can just jump the turnstile when there is no attendant around - I've witnessed this from time to time as well, especially at my local J train stop.

*** I meant I always see homeless people picking up cards and swiping them to see if they have anything left on them; never actually witnessed the success of this technique.

@DBlack haha, yeah that article stayed in my head since I read it last summer - and those kids in the picture were part of a gaggle of hipster vagrants who were always on Bedford, harassing passers-by and loudly demanding change.

@DBlack If you're a heroin hobo, why would you ever want to leave your sweet squatting habitat? I'm sure there are plenty of supplies to be had in Williamsburg as well.

I've seen tons of people jumping the turnstiles in the subway - and not just homeless people. Maybe MTA should hike up the fines for those who get caught rather than trying to charge the rest of us outrageous prices for a train ride.

@DBlack and NeverSleeps I've mostly seen kids do it, much more rarely adults. When kids do it, I feel fairly tolerant of their hoodlum ways, though I'd be much more disapproving of adults who try to get away with it.

@Uraniumfish I've seen kids do it, but also adults. Have to admit sometimes I am tempted.

It would seem to me that a transit cop would be at the stations to watch such things. But this city is so disorganized that anything is possible. In fact, I have seen so many situations where this city lost chances to make money but blew it. Any they are crying they are nearly broke. I can see why.

Maybe homeless people jumping the turnstiles is not much of a problem. I don't know. But I do agree those panhandlers must do things illegally at times, or at least it appears that way by the way they dress. On the other hand, you can't judge a book by its cover.

Wow, I'm sheltered. I've never seen anybody jump a turnstile, nor have I ever done it myself.

@ajadedidealist nor have I for that matter...

I have to say, the people I've seen jumping were pretty slick about it, and it would have been easy to miss.

There is often no attendant in the booth at the Flushing JZ stop, and when that happens just about no one pays to ride the train.

I see a lot of people jumping the turnstile in Union Square as well, security or no, as those who are really good at it aren't often noticed in the crowds.

So that's why the're not that many great women to date? They're all going for the Willy heroin hobos? Why didn't anyone tell me this sooner. I too could have turned heroin hobo in Willy. Now if I try it, I'll just look like an unshaved poser. Do women also go for unshaved heroin hobo Willy posers? Gotta know, quick.

@uptowngirl Yeah, Union Square is full of slick young kids who don't feel the need to pay, or maybe just didn't get their allowance that week. The people I've seen jump the turnstiles at that stop are truly talented.

@JenMac Ugh, I know exactly what you are talking about. Union Pool is the place to be for hipster heroin addict perverts.... I try to go there as little as humanly possible.

@DBlack I doubt that it's the "great" women who are going for the heroin hobos - more like the confused/young ones. There is no short supply of confused young women in Williamsbush.

I agree with others. I never saw anyone jump the turnstiles. Maybe it happens only at certain stations?

Dblack: They totally go for heroin hobo posers. There are only like 10 -20 actual heroin hobos in Willy. All of the rest of the neighborhood is poser after poser -- and, they pull mad chicks. You're in!