Anyone buying in NYC now is outta their freakin' mind... (New York: low income, homes)

[Fred314X]

So, as usual, it comes down to this: if you want to be in the city, find a place in the city. If not, then go to the suburbs. These are two different mindsets that apparently shall be at war with each other forever--neither side ever scores any points with the other.

[NYCwoman]

Guywithacause:

I am half way done reading this thread (great discussions) and came across a statement from you that someone on an "average" salary had a variety of real estate options, one being to buy a co-op in Parkchester. Just wanted to clarify that if you are talking about the Parkchester Condominium complex (where I currently own and live) - these are condos (and, in my opinion, one of the best deals in the City). www.parkchesternyc.com

Just thought I would point this out because in my opinion, condos are much more desirable than co-ops.

If you were talking about the surrounding AREA of Parkchester, than nevermind and sorry to intrude.

Back to reading the rest of the thread.

[lukewarmer]

No you are correct..I was referring to Parkchester as a good option for middle/working class people.

[middle-of-nowhere]

America's Most Overpriced ZIP Codes - Forbes.com

Sounds like Tribeca is Forbes Magazine's most overpriced neighborhood/Zip code (10013). I suppose other neighborhoods in the area also have the same situation. Is this all the more reason just to wait and prices will eventually come down later?

[Viralmd]

There are a number of neighborhoods that, while they might come down in price, won't come down that much. Tribeca is one of them.

[NativeBronxite]

Originally Posted by Viralmd

There are a number of neighborhoods that, while they might come down in price, won't come down that much. Tribeca is one of them.

Soho is another one.

[Fred314X]

And don't expect too much of a price decrease for the Upper East Side, Upper West Side and Brooklyn Heights. We could probably throw Riverdale into that mix, as well. And Todt Hill on Staten Island...fuhgeddaboudit!

[crescent22]

> And don't expect too much of a price decrease for the Upper East Side,

Really? I've seen several apartments drop from $2.0-$2.1 million to $1.7-$1.8 million and they still aren't selling.

[Riv]

Originally Posted by Guywithacause

Of course...you will have to live in places like Melrose, Concourse, Mott Haven, etc in the Bronx. So the real issue is...the affordable housing is there and available to you, the question is..are you "too good" or somehow "deserve" better than to live in these areas?

No, with the drugs, violence, troublemaking, drinking, gang activity going on in these areas, the question is...how safe is it to live in these areas?

[Rachael84]

My fiance are considering buying a 1 bedroom co-op in eastern Queens at about 170,000. Thing is, we're also thinking about buying an excellent condition house in Nassau County for 280,000. Just 10 miles east of Queens. It's an amazing deal. Not really sure what we want to do. I think it's a great time for buyers, which is why we want to buy very soon.