Fresh, insider real estate tip of the day: Brooklyn, as a brand and as a place to buy property, is scorching hot!
Massive waves of popularity come at a price, however, and Brooklyn has recently become the second most expensive place to live in the entire nation.
Any guesses as to who beat us out for the top spot here?
Manhattan, of course. It really is still more expensive over there, in spite rumblings that some locals have been priced out to the bargain-basement rents of the Upper East Side.
The latest Cost of Living Index, courtesy of the Council for Community and Economic Research, cites housing costs as the primary reason for this dubious honor. Other top-ranking cities, such as Honolulu, made the list because of factors like unusually high food prices.
As for us, Brooklyn housing for “mid-management households” costs three times the national average. Which might explain why people I went to high school with are buying actual houses while I still rent a place that includes three roommates and a leaking ceiling.
Ballooning prices are probably under control, though. Marty Markowitz assured the Brooklyn Eagle, “We are mindful that Brooklyn must never be a place of only the very rich or the very poor.”
See? Definitely nothing to worry about.
Follow Virginia K. Smith on Twitter @vksmith.