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Home prices in Brooklyn, New York's most populous borough, surged to a record as low interest rates and rising rents across the city swelled demand for homeownership amid a dwindling supply of properties for sale.
The median price of condominiums, co-ops and one- to three-family homes that sold in the second quarter was $550,000, up 15 percent from a year earlier and the highest in more than a decade of record keeping, New York-based appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate said in a report today. The inventory of listings fell 19 percent to 4,704, the lowest for a second quarter since Miller Samuel began tracking the data in 2008, said Jonathan Miller, the firm's president.
The median price of condominiums, co-ops and one- to three- family homes that sold in the second quarter was $550,000, up 15 percent.
Comment: The lethal combination of "Shall Issue" concealed gun permitting and the "Stand your Ground" laws that many states have will lead to many more unnecessary killings. The fact that anyone can get away with murder by claiming they felt threatened puts many people in danger especially, but not exclusively, young African-American men and boys whom many see as violent and threatening. The Powers that Be have inculcated fear into the public for a reason, despite the fact that violent crime has been dropping sharply in the United States. A fearful, paranoid nation is easier to control.