$939K is absurd for that totally nondescript, 1-bedroom Brooklyn Heights apt.
3
The view is worth a lot of money.
Ridiculous prices for old houses on postage stamp sized lots. Move to beautiful Tallahassee and get twice as much home for the money as well as clean air and less parasitic government,
4
Am I the only one who wants to turn and run every time I see parquet floors?
3
Maintenance on the NYC apt. at $2,545 a month is obscene.
7
The combination of high assessed values and high property tax rates in the NY metro area result in some really shocking tax bills. When you've got a house on .15 acres carrying a tax burden of $20K/yr., things are getting nutty, especially with SALT deductions now capped at $10K. Add on the rise in mortgage rates and the costs of owning a home in the tri-state area start to seem unsustainable in the long run.
19
You got it in a nutshell. Prices will shockingly fall this year as tax returns are filed with the new law in effect. There will be a stampede to the exits especially from baby boomers who will be realizing that homes bought during the 70s and 80s are no longer financially sustainable on retirement income.