South Florida bashers read this (Miami, West Palm Beach: moving, beaches, friendly)

[fauve]

Originally Posted by TANaples

5 boroughs you know. The only time I ever heard anybody refer to the "City", as in MANHATTAN, was when I lived on Long Island. When I lived in Manhattan, and Queens, people would say which BOROUGH they were talking about. It wasn't an automatic thing that Manhattan was the "City" when you lived in the other boroughs.

My Mom passed away in 1993 and lived in Manhattan. Back in the late 80s, a 2 bedroom apartment (21st and 7th Ave.) in her building was renting furnished for $2,000 a month. Cheap? If you are referring to what things were back then that were RENT CONTROLLED/RENT STABLIZED, well that is a different story. My Mom's apartment was $400 a month, with RENT CONTROL. But even back then, when the rent controlled/stabilized tentant moved out, it was whatever the market would bear. If you want to blame anything, blame the elimination of rent control/stabilization for the sky high prices.

Please don't give out false information. Some of us are old enough to remember those times.

Yeah, and I'm one of them. I bought my first apartment, a studio, on 68th and 2nd for $112K in 1985. I moved to Florida in 1988, rented it for a year for $1000 and short sold it in 1990 for $68K! New York was CHEAP in 1990! Maybe not for a renter, but definitely for buyers. Oh! And, my Mom sold my uncle's 1895 townhouse in Greenwich Village in 1983 for $225k!!! (This still makes me nuts).

And, growing up in Manhattan, everyone called it "the city." I went to college at St John's and everyone there from Queens, etc called it "the city." When I lived in Woodside after graduating, everyone there called Manhattan "the city" too. So, I don't know where you're getting that from.

Chelsa is NOT giving bad information.

[TANaples]

Originally Posted by fauve

Yeah, and I'm one of them. I bought my first apartment, a studio, on 68th and 2nd for $112K in 1985. I moved to Florida in 1988, rented it for a year for $1000 and short sold it in 1990 for $68K! New York was CHEAP in 1990! Maybe not for a renter, but definitely for buyers. Oh! And, my Mom sold my uncle's 1895 townhouse in Greenwich Village in 1983 for $225k!!! (This still makes me nuts).

And, growing up in Manhattan, everyone called it "the city." I went to college at St John's and everyone there from Queens, etc called it "the city." When I lived in Woodside after graduating, everyone there called Manhattan "the city" too. So, I don't know where you're getting that from.

Chelsa is NOT giving bad information.

They always referred to Manhattan as Manhattan, Queens as Queens, etc.

Do you have any idea what these apartments are selling for NOW? Try a MILLION and over. I don't like to think about that. Too depressing. My Mom's when it went coop in 1988 was selling for $150,000. It was a very upscale building in Chelsea back in the 1880's and it was very well maintained over the years. Mom used to complain about that. They were always doing something. Besides being very big, it had those oak floors, tin ceilings, bear claw tubs, marble fireplace, etc. A lot of people who bought it back then, restored it to the original turn of the century condition.

Yeah, hindsight is 20/20.

[fauve]

New York has always been volatile for real estate. But in the long run, it always goes up in huge spikes. Catching a falling knife there is always a real possibility, too. I suspect there are great deals now, but it could always die off some more in the next year.

[Elvi03]

Originally Posted by fauve

New York has always been volatile for real estate. But in the long run, it always goes up in huge spikes. Catching a falling knife there is always a real possibility, too. I suspect there are great deals now, but it could always die off some more in the next year.

All the problems in Wall St have really brought the city RE to a halt. You can certainly find "deals" and by that I mean what were once million dollar one bedrooms in new buildings selling in the 700s in Manhattan. These things were extremely overpriced to begin with, even for NYC. Perfect example was this luxury building in Riverdale that was holding their ground for 3 years at 600-700k for 1 beds facing a tar roof, a friend of my husband almost got one in the high 300s but walked away about a month ago.

[fauve]

Originally Posted by Elvi03

All the problems in Wall St have really brought the city RE to a halt. You can certainly find "deals" and by that I mean what were once million dollar one bedrooms in new buildings selling in the 700s in Manhattan. These things were extremely overpriced to begin with, even for NYC. Perfect example was this luxury building in Riverdale that was holding their ground for 3 years at 600-700k for 1 beds facing a tar roof, a friend of my husband almost got one in the high 300s but walked away about a month ago.

Yeah, I realize a deal in NYC is "relative." The prices down here are starting to get impressive. I was just looking at a 2 bedroom condo in Davie asking $115K. The mortgage at 5% with 20% down makes it $498 a month, and that's at the asking price - I suspect they'd be happy taking a bit less.

[Wild Style]

Originally Posted by Elvi03

All the problems in Wall St have really brought the city RE to a halt. You can certainly find "deals" and by that I mean what were once million dollar one bedrooms in new buildings selling in the 700s in Manhattan. These things were extremely overpriced to begin with, even for NYC. Perfect example was this luxury building in Riverdale that was holding their ground for 3 years at 600-700k for 1 beds facing a tar roof, a friend of my husband almost got one in the high 300s but walked away about a month ago.

you should see Williamsburg, some of those condos are empty. It is only going to get worse though.

Originally Posted by fauve

New York has always been volatile for real estate. But in the long run, it always goes up in huge spikes. Catching a falling knife there is always a real possibility, too. I suspect there are great deals now, but it could always die off some more in the next year.

NYC has had four run ups. 1 in the 1800s, one in the 1920s or whatever, one in the S&L days (80s) and one just now (1998 - 2007/8). They are in lock step with most metro areas across the country and every time it runs up, it comes crashing down. It is all the same causing factor every time, easy, cheap credit and that day is done.

[Elvi03]

Originally Posted by fauve

Yeah, I realize a deal in NYC is "relative." The prices down here are starting to get impressive. I was just looking at a 2 bedroom condo in Davie asking $115K. The mortgage at 5% with 20% down makes it $498 a month, and that's at the asking price - I suspect they'd be happy taking a bit less.

I'm sure you're right.

It should have never gotten as high as it did. The job market down there could not sustain those prices.

[Elvi03]

Originally Posted by Wild Style

you should see Williamsburg, some of those condos are empty. It is only going to get worse though.

It's crazy to see these dark towers at night! Most are turning rentals.

[Wild Style]

Originally Posted by Elvi03

It's crazy to see these dark towers at night! Most are turning rentals.

which in turn is pushing down rents. Gotta love it! Downtown Fort Lauderdale has some of these empty buildings, I know of three off the top of my head. They are now leasing, don't know if the rents are reasonable though. Some people think because its in or near downtown they are supposed to ask for dumb prices for rent. Its not logically especially given the fact there isn't much downtown in the way of living amenities to make it worth that much.

[Desdemona25]

Originally Posted by Chelsa1075

ha - if you are lucky enough to own the snow blower, you are even luckier if you have the space to store it. To all those who say the heat is unbearable in Florida - it gets hot up here too - hellish - I mean hot is hot - 90 with 80% humidity is just hot, I'm not sure if there is a difference between hot and hotter? When my skin feels like it is melting off because of the heat, it is all the same to me and I'd much rather have a pool, whether in my back yard or in my complex to jump into in that heat. Whether those of you who live in florida choose to do that or not is a whole other story! At least you have the choice!

Difference is though you only have that for maybe a month or 2 out of the year. Down here, it's more like 8-9 months like that. BIG difference!