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The "things you can't believe you just saw" thread... - Page 22

post #316 of 547
I don't understand rents at all, but I know my monthly mortgage is way less than what people in my neighborhood pay in rent. I am thankful for that.
post #317 of 547
Quote:
Originally Posted by gomestar View Post

yeah, not the case.

here's a basic street easy search for Tribeca 2 bedrooms for sale

http://streeteasy.com/nyc/sales/tribeca-manhattan/status:open%7Cbeds:2

Yeesh, 1.5k per sq ft?
post #318 of 547
Yeah, that's pretty common in fancy building/neighborhoods. I've seen well over $2k per sq/ft back in the good ole' days of goldilocks 2006.
post #319 of 547
Thread Starter 
Quote:
Originally Posted by Piobaire View Post

Yeesh, 1.5k per sq ft?

not bad, right? WAY WAY cheaper than 15 CPW
post #320 of 547
post #321 of 547
Sometimes living in flyover is not a bad thing.
post #322 of 547
Yeah, but we have better wine shops.
post #323 of 547
That is indisputable. However, Fed Ex ftw.
post #324 of 547
Thread Starter 
Vintry is right down the street. That alone would do me in.
post #325 of 547
Quote:
Originally Posted by patrickBOOTH View Post

I never understand some of those insanely high rent places. If you have so much money, why not just buy a place?

If you are there for a short period like 6 moths, it doesn't make sense to buy.
post #326 of 547
Quote:
Originally Posted by Find Finn View Post

If you are there for a short period like 6 moths, it doesn't make sense to buy.

A hotel room in this case makes more sense than this. Plus most leases are for a year.
post #327 of 547
Quote:
Originally Posted by patrickBOOTH View Post

I never understand some of those insanely high rent places. If you have so much money, why not just buy a place?

I can see the allure in renting, even if buying is an option.

Actually, I'd even go so far as saying that "our culture's obsession with home ownership" is something I could add to the "things you don't get" thread. I wish often that I hadn't bought a house when I did.
post #328 of 547
I'm with you.
post #329 of 547
I don't know. I like the idea of condo ownership. Not so much house ownership. In NYC we are pretty insulated from drastic real estate flucuations. I just know right now there are a lot of people paying insane amounts of money for rent which will only drive up RE values as more people begin to buy.
post #330 of 547
Quote:
Originally Posted by patrickBOOTH View Post

I don't know. I like the idea of condo ownership. Not so much house ownership. In NYC we are pretty insulated from drastic real estate flucuations. I just know right now there are a lot of people paying insane amounts of money for rent which will only drive up RE values as more people begin to buy.

I'm not even really talking about value. I bought my house after the bubble burst, so I'm mostly not affected by that, at least in terms of lost value (though I'm.

What I'm talking about is things like costs outside of mortgage/insurance/taxes, lack of mobility, time spent on the home, etc. Those people paying rent don't have to spend a dime when the water heater explodes and the AC stops working in August, and they can up and move whenever they wish at considerably less expense than someone with a mortgage. They also don't have to spend their Saturdays playing handyman around the house. Basically, they may pay more monthly, but they're also insulated from a lot of cost, financial and otherwise.

I understand that a career man in a good job with kids in a school system would find home ownership desirable, but, for large swaths of the population, I think our society vastly overvalues buying a home. There are positives, to be sure, but there are also significant costs that often seem to be ignored by the "you've just gotta own a home" crowd.
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