When the city’s real estate market started to boom in 2011, Brooklyn real estate was valued at about $50 billion.
But it’s only about 20% the actual property, according to real estate brokerage Cushman & Sun, which analyzed the citys real estate data and determined that it’s worth less than $5 billion.
The report comes as the city is struggling with a wave of gentrification.
The city is home to some of the countrys largest Asian American communities, as well as some of New York’s wealthiest families.
While most of Brooklyn’s new residents are mostly African American, the city has also seen more Latino and Asian American residents.
Brooklyn’s real-estate market is not as healthy as some in other cities, according a 2016 study by the nonprofit Center for Housing Studies, which found that it was “the most unaffordable market in the United States.”
The report said that the median home price in Brooklyn was $1.3 million, while the median rent was $2,988.
In contrast, New York City is home, among other places, to a thriving housing market.
In fact, in Manhattan, the median household income in 2018 was $60,074, while in Queens, it was $50,742.
While the majority of New Yorkers are in their 30s, the boroughs median age is around 26, according the Center for Economic and Policy Research.
Brooklyn is home most of the day, but during the week, the neighborhood is home for most of New Year’s Day, said Chris Hargrove, an assistant professor of urban planning at Brooklyn College.
While it is the most expensive real estate in the city, many people do not own property, he said.
“They just buy houses, rent them out, and sell them at a profit,” he said, referring to people who buy houses to buy or sell them.
Hargrobves study found that people who are willing to pay a premium for a house are likely to be the most likely to move into Brooklyn during the year.
Haggarty, the real estate broker, said that when people who don’t own properties are forced to sell or lease, “it’s not really going to help the real-time housing market.”
Real-estate agents say that the real value of Brooklyn is driven largely by its Asian American population.
Hargevy, the property manager, said, “We are seeing a very high number of Asian-American buyers.
They are buying houses and apartments to live in, and we are seeing that boom.”
According to Cushmans study, of the roughly 8,000 properties in Brooklyn, “just over 2,000 are owned by people of Asian descent.”
The median age in Brooklyn is 29.5 years old, and it’s home to more than one-quarter of the city.
The median household is just over $100,000, according Cushmann &: Sun.
However, in other parts of New England, older people tend to have more money to invest.
In Boston, the most unaffordably priced neighborhood in the country, the average home price was $415,000 in 2017.
In Vermont, the cheapest place to live, the middle class had an average household income of $81,814 in 2018.
In New York, the least expensive place to buy, the top earners have median incomes of $143,521.
In Los Angeles, median household incomes were $59,078 in 2017, and the middle is $53,929.
While Brooklyn is considered a major economic hub in the state, Hargry said that its affordability is a big factor in its economic health.
“If you look at the people who live here, they have a lot of assets and are living in a very expensive area,” Hargrey said.
Cushmans study also found that the city had some of Americas largest concentration of foreign-born residents, which made up a larger percentage of its population in 2020 than in any other year since 2006.
While nearly two-thirds of Brooklyns population is Asian, the Asian American community in Brooklyn has been growing at a slower rate than the rest of the region.
For example, the number of Chinese Americans living in Brooklyn rose by 5,000 people from 2016 to 2020, and more than 8,700 people are now from China.
According to a report by the Council on American-Islamic Relations, which focuses on Islamic issues, Chinese American immigrants are also disproportionately affected by housing, homelessness, and other social issues.
While more than half of Chinese American families are renters, the majority are still renting out their homes, according CLIR.
The organization noted that there are more than 1.7 million Chinese Americans in the U.S., and they account for more than a quarter of renters in Brooklyn.
“We believe that the Chinese