shalab Posted October 15, 2011 Posted October 15, 2011 I am seeing the same trend in my locality - it will soon get better to buy than rent at these prices. Expect housing to get better in a couple of years in the worst case. http://www.nytimes.com/2011/10/16/realestate/rents-in-manhattan-rebound-to-record-highs.html?_r=1&hp
jeffmori7 Posted October 15, 2011 Posted October 15, 2011 I went to New York last week for the first time in my life..and I was quite impressed! I'm from Montreal and I must admit I don't understand how people can afford such prices to rent?! I'm paying like 5 times less per month than in Manhattan, but I don't think that all people in Manhattan are paid 5 times more than in Montreal? I am young and still surprised that there are so many rich people in the US that can afford to pay more than 4000$ a month to rent a one-bedroom appartement!
Guest valueInv Posted October 15, 2011 Posted October 15, 2011 Rents are way higher than 2007 here in San Francisco. That is, if you can find a place. I've heard of rental places having 30 applicants standing in line to just see the place. Its looking a lot like the days of the dot com boom here. We found it much cheaper to buy than to rent. While real estate prices have not gone up in the city, Palo Alto has seen an 18% jump since last year. What recession????
sdev Posted October 15, 2011 Posted October 15, 2011 Rents are way higher than 2007 here in San Francisco. That is, if you can find a place. I've heard of rental places having 30 applicants standing in line to just see the place. Its looking a lot like the days of the dot com boom here. We found it much cheaper to buy than to rent. While real estate prices have not gone up in the city, Palo Alto has seen an 18% jump since last year. What recession???? I cannot agree more. SF is f**cking insane. I first hand had to battle exactly 30 people to rent an apartment. The bay area is absolutely dripping in money, and it feels like 1998-1999.
Packer16 Posted October 15, 2011 Posted October 15, 2011 I just ran across a NYC real estate apprasial with a 4% cap rate. That appeared to be a low rate given 7% was applicable only a few years ago. Has anyone ran into 4% cap rate valuations in NYC? TIA. Packer
biaggio Posted October 16, 2011 Posted October 16, 2011 I was in NYC last weekend for a holiday-what a great city. Can understand the insane rents.
hyten1 Posted October 16, 2011 Posted October 16, 2011 packer16 4% cap rate? really what building is this at?
ERICOPOLY Posted October 16, 2011 Posted October 16, 2011 Rents are way higher than 2007 here in San Francisco. That is, if you can find a place. I've heard of rental places having 30 applicants standing in line to just see the place. Its looking a lot like the days of the dot com boom here. We found it much cheaper to buy than to rent. While real estate prices have not gone up in the city, Palo Alto has seen an 18% jump since last year. What recession???? A month or two ago I saw an article stating that Bay Area GDP grew in the mid-teens over the past year. So there isn't a recession for them -- they're growing faster than China.
Packer16 Posted October 16, 2011 Posted October 16, 2011 It is a residential building near Central Park. Packer
prunes Posted October 17, 2011 Posted October 17, 2011 Good article on the NYC rental market http://www.nytimes.com/2011/10/16/realestate/rents-in-manhattan-rebound-to-record-highs.html?_r=1
prunes Posted October 17, 2011 Posted October 17, 2011 I am proud to say that just today I agreed to sublet a room in a Brooklyn apartment for a cool $1400 a month.. only twice what I'm paying currently in Chicago. ::)
Myth465 Posted October 17, 2011 Posted October 17, 2011 Melbourne realty is annoyingly high especially compared to Texas....
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