Discounted Brooklyn brownstones coming to market, but not in prime neighborhoods

If/when this starts seriously hitting Cobble Hill, I'm back on the market, though I suspect a lot of people have the same thought.

It is interesting that the sources claim it has not hit the higher-end markets because the buyers there were better capitalized. To me that just signals it is a question of when -- the better capitalized buyers are not necessarily more astute investors, but they can hold out longer.

malthus, definitely, though they are more stable neighborhoods, which is probably also contributing to the lag.

Meh. A house in East New York that's on the market for 40% of its peak price is probably still overpriced.

Same for Bed-Stuy. They're not nearly distressed enough. Yet.

A much higher percentage of the loans in these neighborhoods were ban when made. They were therefore more likely to go into default. but take a look who is selling these units in the article: it isn't BANKS, from what I see, it's folks who bought packages of bad loans (presumably at HUGE discounts) and therefore are able to offer the units at big discounts (off of what the loans were, not really off of "current market value"). Such packages of loans haven't been sold in better neighborhoods, so of course these group can not sell what they never got their hands on.