Average Manhattan apartment: $1.21M

[Crown Royal]

Sweet mother...I have seriously considered moving to NY in the next year or two.....nevermind! How do people survive the prices!?!? (Note - I understand this is sale price for condos....but it isn't like rent is cheap up there...)

http://money.cnn.com/2005/04/01/real_estate/manhattan_apt.reut/index.htm?cnn=yes

 

[NYCowboy22]

You can always move to the suburbs.

 

[Crown Royal]

You can always move to the suburbs.

Yeah........




.......but that is just not in the spirit of the Bohemian lifestyle that makes NY so attractive in the first place. I have suburbs here....!

 

[jterrell]

Housing is extremely expensive in NYC but also an excellent investment as it never seems to go down in price.

My bro in law bought his brownstone for 400k on a repo and fixed up all 3 floors(he's an architect and loves remodeling) and it is valued at 1.2 mil now. 4 years 800k profit ain't bad.

Check out Brooklyn, Manhattan is just too expensive. The train makes it easy to get to the Financial district from Brooklyn(2 or 3 stops), even easier than from most of the trendier parts of Manhattan.

I love visiting NYC but I couldn't live there. If someone was ramming my car for a parking spot they would end up no longer having or needing a car. For all the talk of rude NY'ers versus hospitable southerners they put up with alot of disrepectful crud in NYC on a regualr basis.

 

[Hoov]

Housing is extremely expensive in NYC but also an excellent investment as it never seems to go down in price.

My bro in law bought his brownstone for 400k on a repo and fixed up all 3 floors(he's an architect and loves remodeling) and it is valued at 1.2 mil now. 4 years 800k profit ain't bad.

Check out Brooklyn, Manhattan is just too expensive. The train makes it easy to get to the Financial district from Brooklyn(2 or 3 stops), even easier than from most of the trendier parts of Manhattan.

I love visiting NYC but I couldn't live there. If someone was ramming my car for a parking spot they would end up no longer having or needing a car. For all the talk of rude NY'ers versus hospitable southerners they put up with alot of disrepectful crud in NYC on a regualr basis.

Real Estate Investments are pretty much guarantee to make money in the long run, especially in and around the bigger north eastern cities. Having said that, the cost of starting now in the more desirable areas of NYC are astronomical. A lot of successful New York investors are now buying up properties in parts of Philly.