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May 12, 2021 1:50 AM |
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It’s a Home in Brooklyn. What Could It Cost? $100,000?
By Mihir Zaveri
May 11, 2021
Updated 9:38 p.m. ET
Do you know the median sales price for a home in Brooklyn?
The question, which was recently posed to eight mayoral candidates by The New York Times editorial board, was not a trick. Brooklyn is a notoriously expensive borough in one of America’s most expensive cities, and New York City’s housing crisis promises to be a major issue in the coming years.
Yet the range of responses given by two of the candidates — off by roughly an order of magnitude — has touched off incredulity among New Yorkers.
“In Brooklyn, huh? I don’t for sure,” Shaun Donovan, who has touted his experience as housing secretary under President Barack Obama and housing commissioner under Mayor Michael R. Bloomberg, answered. “I would guess it is around $100,000.”
The guess from Raymond J. McGuire, an investment banker and former executive at Citigroup who has sought to woo voters with his financial acumen, included similar numbers.
“It’s got to be somewhere in the $80,000 to $90,000 range, if not higher,” he said.
Eric Adams, the Brooklyn borough president, said he believed the number was about $550,000. Maya Wiley, a former counsel to Mayor Bill de Blasio, guessed $1.8 million. Only Andrew Yang, who has been criticized in the past for seeming out of touch with the city’s issues, guessed correctly: $900,000.
Kathryn Garcia, a former sanitation commissioner, guessed $800,000; Dianne Morales, a former nonprofit executive, $500,000; and Scott M. Stringer, the city comptroller, $1 million.
While Mr. Donovan and Mr. McGuire are not considered among the leading candidates in the race, it was their answers that drew the most attention, with many people suggesting that they did not have a grasp on the problems of working people. As several people pointed out on social media, among the things that can be purchased in Brooklyn for $100,000 or less, according to the website Zillow: a parking space and two vacant lots . . . .
Nicole Gelinas, a senior fellow with the Manhattan Institute who is focused on urban economics and infrastructure, said the more inaccurate answers showed “a real sense of being out of touch with what’s going on in the city,” particularly regarding affordability.
She said the last time the median home price in Brooklyn was around $100,000 may have been in the 1980s . . . .
She said that the candidates’ answers could hurt them politically, particularly as many voters in New York City seem to not be paying attention to the mayoral race and have, according to polls, not decided who they are voting for.
“This is going to be the way that a lot of people are introduced to McGuire and Donovan,” she said.
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https://www.nytimes.com/2021/05/11/n...lyn-mayor.html |
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