Time for a condo report...

[jym626]

<p>Dstark,
Do you think its a bubble? I worry about that. Would hate for them to make such a massive commitment and then have the value decline</p>

[DrGoogle]

<p>It may decline temporarily like most things. Nobody can time it. I know a couple who almost bought in 2000 time frame but didn’t. I think their family members did and turned out better. This couple still renting in their early 40s.</p>

[dstark]

<p>Jym626, </p>

<p>That’s the big question, isnt it? </p>

[dstark]

<p>I saw this today…</p>

<p><a href=“Real Estate, Homes for Sale & Apartments for Rent | Compass”>Real Estate, Homes for Sale & Apartments for Rent | Compass;

[cbreeze]

<p>

Manhattan itself may be expensive like some area in SF like Tiburon but may not be the whole NYC.

</p>

<p>Manhattan is more expensive than the city of SF. But SF is probably more expensive than the whole New York City which has 5 boroughs and the total area is 468.9 sq. miles while SF city is 46.9 sq miles. Manhattan is 33.7 sq. miles. Tiburon is considered SF area not SF since it is in Marin County.</p>

<p>People who live in the Bay Area when mentioning SF to locals, they mean the city of SF itself not the area because SF is a city and its own county.</p>

<p>From an article quoted by Jym,

According to real estate site Trulia.com, the average price for all properties in San Francisco increased 3.9 percent from April to May 2012, with the median from May to July clocking in at $705,000. And while the median home price in Manhattan was still a swanky $1,192,500 in July 2012, lower home prices in Brooklyn ($560,000) Queens ($499,555) the Bronx ($345,000) and Staten Island ($375,000) make the city a little more affordable if you’re in the market to buy—assuming, of course, that you’re willing to stick it out across the river!

</p>

[dstark]

<p>Those numbers are old.
I think Manhattan is more expensive than SF.</p>

<p><a href=“SFGATE: San Francisco Bay Area News, Sports, Culture, Travel, Food and Drink - SFGATE”>SFGATE: San Francisco Bay Area News, Sports, Culture, Travel, Food and Drink - SFGATE;

<p>In retrospect, things were very cheap a few years ago. Damn it. :)</p>

[morrismm]

<p>I am not understanding the whole NYC vs SF debate. Are people implying that higher prices mean one city is better or more desirable than the other? Both are expensive, period.</p>

<p>NYC is expensive to own or rent, especially Manhattan. The only way for people who do not make a lot of money to rent in Manhattan is to go very small or many roommates. The erected wall became very popular, ie turn one room into two by putting up a temporary wall. My D1 did this in her first apartment. A rental for two now became for three. They hired a company to erect the wall. The apartment she now rents alone had a temp wall in her living room previously. I believe they are now outlawed or have very strict guidelines.</p>

<p>D1 is considering buying in Manhattan. She is only 26. It would probably be a good investment. But it is hard to call. Can prices continue to increase?</p>

[dstark]

<p>If I have a daughter who is 26 who can afford Manhattan, I wouldnt worry too much. :)</p>

[MaineLonghorn]

<p>

Yeah…I think it is very difficult for young people today. I agree it sucks. I dont know what my kids are going to do…,

</p>

<p>This made me smile. This is exactly what my FIL said to us back in the late 80s!</p>

[dstark]

<p>MaineLonghorn, :). </p>

[dragonmom]

<p>Ummmm, not live in NYC or DC?
There are other places in the universe…</p>

[dstark]

<p>Well… I am in NYC and I usually look at real estate. First real estate office window had a place for $13 million and a place for $25 million so I havent looked that much this week. :)</p>

<p>I have seen plenty of signs for rentals. Dont remember these last year. </p>

<p>I still love NYC. </p>