Fascinating article in the NY Times on how dog breeds can be used to foretell how (or if) a neighborhood is changing/gentrifying.
Dogs reveal a lot about their owners and who is moving in – or out – of a neighborhood. Additionally, although this info is specific to NYC, I believe the link between dogs and real estate applies to cities all around the country.
Here are some key takeaways from NYC’s shifting demographics based on its 500,000 canines:
If you see poodles sniffing around your neighborhood, prices are going up.
- Poodles, once a posh Upper East Side staple, are now popular downtown especially in the West Village, Chelsea and Hell’s Kitchen.
The Yorkshire terrier is the top dog citywide
- One-third of registrations were for toy dog breeds
The pit bull remains dominant in certain parts of Brooklyn
- In Clinton Hill, where the median home sales price rose 66% from 2012 to 2016, the pit bull is still favored over any other dog.
- Pit bull adoptions are up 10-20% (but pit bulls are also tenfold more likely than any other breed to be put down)
- People moving in to pricier Williamsburg are bringing in more pedigreed dogs e.g. French bulldogs (up 90%), Jack Russells, Labradoodles
The Rottweiler dominates in the Bronx but its numbers are dwindling fast
- The Southeast Bronx has had the most Rottweiler registrations for five straight years.
- But total registrations fell 18% from 2012 to 2016 with rottweilers banned from most co-ops and rental buildings throughout the city
- And even in the Bronx, the top dog has now become the Shih Tzu.
- NYC shelters are generally no-kill
- Dogs get sent to NYC shelters from all over the country – particularly from the South where the majority of shelters are traditional (i.e. they euthanize animals after a certain amount of time)
- Having a “rescue” dog has become very trendy – especially among wealthier New Yorkers
Max is the most popular dog name in NYC
Bottom Line: The link between dogs and real estate is real and in NYC, once you start seeing dogs in your neighborhood getting tinier and rarer, you can bet your bottom dollar, homes are about to get pricier.
READ ON BELOW. Still on real estate but shifting to self-driving cars and their impact on real estate over the next 15 years. Absolutely worth a read – makes you rethink everything.