An interesting conversation today with a person who was selling their home in Corona, Queens, that gives some insight into the real estate market here. 1/x

The seller was Black and told me the house had been in their family for over 70 years. It was her parents, they passed it down to her and now she was selling. She started to tell me how the neighborhood had changed over time. 2/x

She said when she grew up there in the sixties and seventies the neighborhood was mostly Black. Over time the original owners moved out and the neighborhood started to become more Hispanic. 3/x

She said as the Black ownership started to leave the neighborhood so did the community feel. There was no longer long standing owners in the neighborhood looking out for each other and their children. 4/x

As the population in the neighborhood changed so did other demographics in the neighborhood. There was a growing number of absentee landlords, either those who inherited the properties or sold. 5/x

She said although the neighborhood was largely Hispanic they were not the ones who owned property. Many homes on large lots were knocked down to build multi family homes or small apartment buildings. 6/x

When she put her home on the market which was a zoned 3 family house, she immediately received 7 figure CASH offers from exclusively Asian buyers. Some even came to her home in Long Island to make a formal offer. 7/x

She noted that other homes on the block over time had also been largely purchased by Asian investors many of whom do not live in the properties. She noted that while Corona has become largely Hispanic again they aren't the ones who are owning property. 8/x

She said her experience owner home showed how difficult it was for people to compete because there are so many buyers here who can make million dollar cash offers on homes. Queens has become increasingly difficult to buy a home because of the cash buyer competition. 9/x

Home ownership in queens for many especially those who are currently renting and making a middle class wage is almost impossible here. It has become a rental market even in mainly residential neighborhoods. 10/10