@dstark you can still purchase a 2 BR in NYC for under $1.5M. What you will have to “give” on is a sought after neighborhood and perhaps square footage. Here is a 2 BR for 1.1M on the market now - I know the building and it is financially stable, but not in a “hot” neighborhood."
http://streeteasy.com/building/the-carlton-regency/6g?featured=1
Going to try to talk kids into settling away from NYC. When they are done w college, I’d like to be done w NYC. And the high pressure job. And I wish they would not start on the vicious cycle so young!
But one is a born and bred NYer, soooo…the other will likely land where I do. Texas I think…
BB & dstark: Thank you for the insight into SF. Maybe I will be calmer about these prices.
The SF kids want to live without a car. If they don’t buy a tesla…
I can see how one can live in Seattle condoland without a car. Rent one when you need it. Parking spots are $120-400 a month. Tabs, insurance, and it gets pricy to own a car you don’t drive that much. If we lived downtown, I would get rid of the cars.
In SF, parking is mostly street. I remember xiggi cursing the jerks who kept breaking into his car!..
@HarvestMoon1, I think that place is great. I think Murray Hill is very nice. I like what you posted.
@musicmom, I love Manhattan. I get it. Every year we visit my son in Manhattan and my wife and I say we should look at NJ. We should spend time in Brooklyn…but we never do. 
One of these times.
@HRSMom, My son in laws siblings live near Austin. One lives in Cedar Park. The cost of living is a lot more reasonable in Texas. My daughter says moving to Austin is not out of the question.
@HarvestMoon1 I actually like the Murray Hill neighborhood. Only in places like New York would that be a 2 bedroom though as the “second bedroom” is created out of the dining room with no easy bathroom access yet what would be a weird door into the kitchen. Those midnight snacks would be accessible, though.
@alh, you don’t need a car in SF. Most young people use Uber.
Why is Murray Hill cheaper than other neighborhoods?
My wife’s cousin lives near Katz Deli. A couple of walls are made out of bedsheets.
Who knows why neighborhoods become “hot” in Manhattan. Murray Hill is very centrally located and very safe. Just not a lot going on but you can walk to the Gramercy Park area and you are a very short cab or subway ride from Tribeca and Soho. No idea why it never took off.
Agree that it is a smaller 2 BR but the price reflects that and the maintenance is reasonable. If you play around on StreetEasy you can find many like it.
I like to walk so Murray Hill is walkable to anywhere in Manhattan.
Ok…maybe not the northern parts of the west side, but anywhere else.
I also agree that Park Slope is a fantastic neighborhood.
The commute is ok from Park Slope to Rockefeller Center?
30-45 minutes by subway.
That’s not bad.
I’m having fun binge watching House Hunters on Netflix. I believe the season they are showing is from 2014 (or a compilation of different seasons put together). Its fun comparing how much money it costs to live in each city. In Huntsville Alabama the couple was able to get a huge house for less than $200,000. In New York City, the young woman looking looked at a studio apartment for over $300,000, and ended up with a one bedroom for, I believe, $425,000. My son recently moved to the Silicon Valley area and lucked out with a small 2 bedroom apartment that he shares with a roommate for $3,000 (its far away from SF but a bike away from his work). I am hoping that by the time he is ready to buy, he’ll be ready to move someplace more affordable.
The problem is, when many of these kids are ready to buy, the prices will be even higher, and the interest rates will, at some point, go up. Potentially way up. I think many will be renters until they’re able to move out to the suburbs or to lower cost of living areas.
My Phoenix kid could probably find house that would,have. Monthly payment aboutmthemsame as his rent…IF he had the down payment…which he does not have. There are still small houses in Phoenix for under $200,000…and he doesn’t need big!
Our younger son really enjoys living in Cambridge. It has plenty going on in the town itself and is very convienient to Boston. He rides his bike to work (also in Cambridge). Our older son has a great place and enjoys living there, its a short drive to work. Unfortunately, it is our house.
dstark, you mentioned Austin, but I wouldn’t encourage my kids to move there. The traffic really is a nightmare, most of the time! Last August, I needed to get across town late afternoon, and I thought I allowed more than enough time. Ack! Traffic crawled EVERYWHERE. Seriously, worse than Boston. My sister, for the first time, told me she thinks about moving away from Austin. It’s just too much of a hassle to live there. It’s not like Boston, where you can take public transportation easily.
D1 recently bought a place in UES for under $1M. She just spent about 1k or so to renovate it. Moving in next week! It is in a full service building. It has a beautiful big terrace ( her own) on the 17th floor. Near the subway, restaurants and a short walk to museums and Central Park.
But pretty much all metropolitan areas are going to be much more affordable than SF, NYC, Boston, DC and LA. Take your pick.
^^
1 BR?