A few months ago, we sadly had to write a post titled "Brooklyn is No Longer the 'Budget-Savvy' Alternative to Manhattan." It revolved around the news that Brooklyn was now the second most-expensive place to live in the country, falling only below its skyscraper neighbor, Manhattan. But what happens when the second-most expensive place to live becomes as costly, if not more, than the most expensive place?
Let's call it the modern-day urban sprawl.
In a story that would come as a surprise to someone living in 2006, the Daily News reported yesterday that Brooklyn is becoming so damn expensive that recent transplants are actually going back to Manhattan. The slowly, then rapidly developing real estate boom in Kings County over the past decade is now pushing out newcomers as well as longtime residents.
Welcome to the rent conundrum that is New York City.More »