NOT rural living ...

Moon · Jan 3, 2005

Just saw a blip about the average cost of a New York city apartment is now 1 million dollars. Unbelieveable! That is a 15% increase and they speculated it was because of the limited number of apartments available.

Moon of Ohio

Bob_Skurka · Jan 3, 2005

Moon, my sister is in the real estate biz in Manhattan and she told me recently that not only is the market skyrocketing, but that most buyers are getting into bidding wars over available units with units selling for more than asking price. Prices seem to run about $1000 per square foot!

ByronBob · Jan 3, 2005

Have a BIL in Manhattan who makes 65,000 a year and lives like a pauper. He told me the horror stories of living there also. Rent for a 2 bedroom apartment which 4 men live in being almost 2,000 a month. Can't own a car.... lunch is 15 for a dog, chips and a coke. Subway ride to work another 15 a day.

It's sick.....

Moon · Jan 3, 2005

Unreal! Makes me feel lucky to be out in the sticks. Can't help but wonder what all these folks do for a living if they can afford 1 million for an apartment.

TOMLESCOEQUIP · Jan 3, 2005

( Moon, my sister is in the real estate biz in Manhattan and she told me recently that not only is the market skyrocketing, but that most buyers are getting into bidding wars over available units with units selling for more than asking price. Prices seem to run about $1000 per square foot!

)I'll gladly sell those unfortunate NY'ers Either of my Ohio properties for $995 a sq foot and even give 'em a New Holland tractor on the deal................ Anything I can do to help the poor city bound downtrodden urbanites............

SPIKER · Jan 3, 2005

LOL @ tomsequp:

I know the feeling I'd sell mine in west salem for an even 990/SF /forums/images/graemlins/wink.gif

my old boss's son lives there and works as a door man and performs in a theater, he does talk how much things cost and cost of living, I think he said he pays 1400/mo for 900 sf efficiency appt & shares with someone else too! this was about 3 yrs back..

anyhow lots of skyrocketing prices and lots of job losses does not compute does not compute error eroor /forums/images/graemlins/crazy.gif /forums/images/graemlins/blush.gif

Mark M

slydog · Jan 3, 2005

( I'll gladly sell those unfortunate NY'ers Either of my Ohio properties for $995 a sq foot and even give 'em a New Holland tractor on the deal................ Anything I can do to help the poor city bound downtrodden urbanites............ )

I've been to New York and stayed in Manhatten, but for the life of me I don't see why anyone in their right mind would pay that kind of money to live there. It's total lunacy if you ask me.

Ken /forums/images/graemlins/tongue.gif

aardvark · Jan 4, 2005

There have been alot of bidding wars in south Florida as well. We are about out of land in Palm Beach County, and Dade (Miami) and Broward (Fort Lauderdale) Counties have been out of land for many years. The urbanization is moving north very quickly. The new construction developments now have quick change signs. Every few months they just change the prices. Last summer the signs said "from 300k-700k", then they changed to 400k-900k, not they say 600k-1.2Million. This is the same development that is changing the prices, not different developments. I bought my house down here last year, and it's already gone up in value about $130k. I figure a few more years, I sell it and move to somewhere that's still cheap, in comparison. Pay cash and work less.

DUMBDOG · Jan 4, 2005

Our winter retreat by Disney has doubled since we purchased it almost five years ago. Not as much appreciation as further south but sure beats the appreciation up in ND.

Almost smell short term bubble, but in the long run, land will appreciate.

EastTexFrank · Jan 4, 2005

Just another reason not to live in New York ... or Florida.

Personally, I loved the answer a female friend gave her NY based corporation when they asked her to transfer from Dallas to HQ with a promotion and a very small increase in salary. She told them that she'd rather be a hooker in Lubbock than be forced to live like a pauper in NY for their benefit. She did eventually go about 3 months later but on her own terms. Isn't it great to have that much "stroke".