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January 11, 2016 - A 2016 Housing Forecast From Your Staten Island Real Estate Attorney
The new year is upon us. Happy New Year to you and yours!
If you research real estate trends locally or nationally, or ask various experts about the topic, you will receive a wide range of predictions. Take each with a grain of salt. Trends in the real estate market go hand in hand with other macro-economic factors. Everything from the faltering euro experiment to the 2016 presidential election to alarming economic indicators in China have the ability to hamper the U.S. economy, despite its relative overall health. And this includes the real estate market, of course.
What I can tell you as we embark upon 2016 is that Staten Island has a lot going in its favor, much of it on the strength of newly popular neighborhoods and development projects, much of it on the qualities that has made Staten Island a great place to live for many years.
- Thoughtful new development projects such as those in Tompkinsville and Stapleton.
- A growing tourist industry based around attractions such as the New York Observational Wheel, Staten Island Yankees, and the Empire Outlet Mall on the North Shore.
- The burgeoning perception that Staten Island has become “cool” and now noticed for its popular small business, coffee shops, and hangouts. (About time rest of the world, we’ve known this all along.)
- Community-oriented neighborhoods perfect for raising a family.
- More Space! Meaning backyards and uncrowded sidewalks and porches that aren’t also fire escapes.
- Affordability relative to the rest of New York City across the bay.
- Location, meaning close proximity to the rest of the City, has become a huge selling point.
- The Ferry is free. Free!
So there you go. New York City is one of the hottest housing markets in the U.S., and Staten Island is growing in desirability within New York City. So despite what may come, all trends are pointing upward for 2016.
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This information, based on New York law, was provided courtesy of The Law Office of Christopher J. Arrigali, P.C. It is intended to inform, not to advise. No one should try to interpret or apply any law without the assistance of legal counsel.
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