So what's this stuff about "buying" an apartment, I thought an apartment was
something one rented.

the term means to buy a condo, or infrequently a co-op shares.

Those
of us with a somewhat longer perspective recall when the real estate market
fell, and there are some suggestions among those in the know

such as Alan Greenspan

that prices may
be getting too far out of line with reality.

At no time did anyone I know lose money on a NY apartment. They all doubled
their money or much better.

My memory goes back to 1989, and I knew a whole bunch of people who lost money
on NY apartments.

When I left New York in the very early 80's you could own a house if you
simply paid the back taxes on it. On the way out through Queens, the garbage
was piled so high on one street you couldn't even get over it in 4WD. New
York is also on of the few places with a sales tax on a house. My friend
paid 3% sales tax on a house in Forest Hills. With rising interest rates and
offshoring of financial services it will be interesting to see what happens
to NY real estate. If you weigh in the costs of taxes, living, decline in
health etc, New York real estate isn't that great. My condominiums in Vail
and Aspen have done much better than NY real estate - and they are usually
rented by New Yorkers on vacation!

Gilligan.




"JAXAshby" wrote in message
...
At no time did anyone I know lose money on a NY apartment. They all
doubled
their money or much better.

My memory goes back to 1989, and I knew a whole bunch of people who lost
money
on NY apartments.

Jill? do *you* suspect that one or two things have happened in the universe in
the last quarter century?

Hell, in most of 1980 you could still buy a Fiat in this country, and the dood
who just died of very old age was not yet elected President.

but thanks for sharing, Jill.

When I left New York in the very early 80's you could own a house if you
simply paid the back taxes on it. On the way out through Queens, the garbage
was piled so high on one street you couldn't even get over it in 4WD. New
York is also on of the few places with a sales tax on a house. My friend
paid 3% sales tax on a house in Forest Hills. With rising interest rates and
offshoring of financial services it will be interesting to see what happens
to NY real estate. If you weigh in the costs of taxes, living, decline in
health etc, New York real estate isn't that great. My condominiums in Vail
and Aspen have done much better than NY real estate - and they are usually
rented by New Yorkers on vacation!

Gilligan.




"JAXAshby" wrote in message
...
At no time did anyone I know lose money on a NY apartment. They all
doubled
their money or much better.

My memory goes back to 1989, and I knew a whole bunch of people who lost
money
on NY apartments.

Doesn't this mean "Condominium"? What's the difference between buying a
condo and buying an
apartment?

I could never figure that out myself.
S/V Express 30 "Ringmaster"
"Trains are a winter sport"

JAXAshby wrote:

At no time did anyone I know lose money on a NY apartment. They all doubled
their money or much better.


My memory goes back to 1989


You can't remember your childhood? This called a memory block and
usually is a protective mechanism against unpleasent thoughts. Just
thought I should tell you.

Cheers

This drives people like Loco nuts with envy.

LOL............... Yea I envy you walking out your front door into the smells
of NY city. Sweat, exhaust and urine. That's NY.
S/V Express 30 "Ringmaster"
"Trains are a winter sport"

you are kinda, or mostly, or completely dumb, nav. why should anyone attempt
discussion with anyone like you? it is, I suppose, like petting a pig.

Nav
Date: 10/5/2004 10:47 PM Eastern Daylight Time
Message-id:



JAXAshby wrote:

At no time did anyone I know lose money on a NY apartment. They all doubled
their money or much better.


My memory goes back to 1989


You can't remember your childhood? This called a memory block and
usually is a protective mechanism against unpleasent thoughts. Just
thought I should tell you.

Cheers

LOL............... Yea I envy you walking out your front door into the smells
of NY city. Sweat, exhaust and urine. That's NY.

not midtown east manhattan. Well, we do actually walk out our front doors, but
the rest of that tripe matches nothing in our experience.