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I think it will be a long time before prices in the BX reach those of Inwood. It is a really charming neighborhood and the Bronx still has a stigma. Prices of co-ops have probably doubled there since we were looking in 2004. One thing that pushed us to buy was that rent on our 1 bedroom there was getting close to $1000/month back then! Seems quaint now.
Edit: in fact, at that time, prices for a one family house in the BX were pretty similar to that of a 2 bedroom apartment in Inwood.
Won't Inwood just keep being even more expensive most likely?
Won't Inwood just keep being even more expensive most likely?
Not if people can't afford to buy it won't... Millennials can barely afford to rent these days, let alone buy. I consider myself veryyyy lucky... I have to laugh sometimes when I'm out and about. Everybody is walking around looking like they're $1,000 but they don't have their own apartment, and either still live at home or have several roommates.
Not if people can't afford to buy it won't... Millennials can barely afford to rent these days, let alone buy. I consider myself veryyyy lucky... I have to laugh sometimes when I'm out and about. Everybody is walking around looking like they're $1,000 but they don't have their own apartment, and either still live at home or have several roommates.
It's smart to live at home or have roommates to save up. Some people also don't want to live alone. We were 4 people in a 1 bedroom apt. before we bought. (Our downstairs neighbor hated us.)
It's smart to live at home or have roommates to save up. Some people also don't want to live alone. We were 4 people in a 1 bedroom apt. before we bought.
When I returned to the States, the plan was for me to move out immediately after I left college. That wasn't exactly possible due to me having to wait for my grades to be finalized in Europe and then wait for the degree. My mom had actually planned on paying my rent for an apartment, but I worked my butt off until I was earning a respectable salary at that time... Around $50k in my early 20s, which was decent money then when one bedrooms were $800 - 900. I paid $900 for my first apartment, had cable and all of the other goodies and ate out pretty much daily. I laugh because I do a much better job of stocking my fridge than I did back then and cook a lot more. Before I'd just go to some place (Whole Foods or wherever), get prepared food and bring it home and that was dinner or have lunch or dinner out or order.
Now I agree it's become quite expensive, so coming out of college you really need to be earning $80k to afford something outside of Manhattan, and more like $100,000 at least for most of Manhattan. You have to factor in student loans, and then the cost for things like cable has increased SO much. I paid about $200 - 250 tops for cable, cell, and ConEd back in the day. That's much higher now. The cost of food, transportation, healthcare and everything keeps going up.
When I returned to the States, the plan was for me to move out immediately after I left college. That wasn't exactly possible due to me having to wait for my grades to be finalized in Europe and then wait for the degree. My mom had actually planned on paying my rent for an apartment, but I worked my butt off until I was earning a respectable salary at that time... Around $50k in my early 20s, which was decent money then when one bedrooms were $800 - 900. I paid $900 for my first apartment, had cable and all of the other goodies and ate out pretty much daily. I laugh because I do a much better job of stocking my fridge than I did back then and cook a lot more. Before I'd just go to some place (Whole Foods or wherever), get prepared food and bring it home and that was dinner or have lunch or dinner out or order.
Now I agree it's become quite expensive, so coming out of college you really need to be earning $80k to afford something outside of Manhattan, and more like $100,000 at least for most of Manhattan. You have to factor in student loans, and then the cost for things like cable has increased SO much. I paid about $200 - 250 tops for cable, cell, and ConEd back in the day. That's much higher now. The cost of food, transportation, healthcare and everything keeps going up.
Even the price of groceries have gone up a lot over the years. Sometimes I'm not sure cooking in is worth the time. I thought you said you were in your early 20s now. Maybe you said early 30s instead? 1 bedrooms haven't been $800-900 for a while.
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