nyc real estate - yes/no?
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- dddc
does anyone think it IS a good time to buy an apartment?
i just dont see any reason for property value to go down
thoughts?
- JazX0
property value rarely goes down
- jox0
Unless they're gonna change the neighborhood somehow in the sense that its bad for the people living there, prices NEVER EVER go down, no matter where.
- dippy0
what jox said
- ourcommon0
unless we enter a recession under the guidance of a texas cowboy.
- JazX0
Texas Cowboys will not depreciate the value of NYC property. Two different countries.
- ourcommon0
tis true.
but I still woudn't buy right now.
- JazX0
I'd have to agree with you. I'd wait a little
- e-pill0
i say make the investment today...dont hesitate..an investment only starts when you do..go for it!
- dippy0
Hey dddc, this is interesting:
- grafholic0
property values always go up. you should buy when 1)interest rate is low, 2)you can afford hefty property tax for the first few years.
after that refinance it and you're just floatin w/out paddlin
- JazX0
Those prices are CHEAP in NYC in my opinion. What? You rent them out or sell at a profit right? Even if it's 10K profit, it's more than when you started.
- JazX0
you're right though, the property taxes can get you. depends on where you are.
- CyBrainX0
This is a no-brainer. You buy in NYC AS SOON AS YOU CAN. (unless you just don't want to live here) My apt. has doubled in value in 5 years. I don't even think there was a drop after 9/11.
Think of it this way. Who's income/savings doubles in 5 years?
- Rand0
some analysts think there's a real estate bubble right now
- klavis0
It definatly is....espcially near the WTC