Is Inwood Bubble-Proof?
While some may be flocking to our soulful ‘hood, others are wondering if it’s time to cash out. Speculating on the city’s real estate bubble, New York Magazine profiled potential buyers and sellers, among them Inwoodites Kristin Carbone and Michael St. John, both Broadway actors. Having bought a two-bedroom place in Inwood seven years ago, the couple is now expecting a child, and find themselves contemplating life in the ‘burbs. “For our asking price, which will probably be about $530,000, we can expect to easily afford a three-bedroom house with a decent-size yard near a commuter-rail line. We debated whether we could stay here another couple of years, but we don’t know that in a couple of years we’ll be able to buy the same size house for what our apartment is worth. We don’t think our apartment will go up much — we think we were at the top of the market about a year ago. And the Jersey market may go up a lot.” Half a million for a 2BR in Inwood? Must be a really, really nice place.