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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: The Wharf who wrote (30772)	5/5/2005 7:05:35 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 306849

1.3 million for a 2 bedroom condo? Sounds like a steal (from who I'll leave for you to decide).

To: The Wharf who wrote (30772)	5/5/2005 7:06:47 PM
From: GraceZ	Read Replies (1) \| Respond to of 306849

It makes me crazy that ordinary (non-luxury) condos are that expensive there. You don't get nearly the same amount of protection from inflation in a condo because of the damned condo fees which can go nuts in later years. Plus it seems that condos are the last to rise in price and the first to take a dive. I wouldn't be buying anything I didn't want to spend at least 10 years in at this point in the cycle. A friend/client bought a condo in NYC a few years back. We were checking out the financial statement trying to see why they had such sharply rising fees. I told her, who ever has the landscape contract is making a killing. The place had miniscule green area to deal with. They fired them soon after and started doing it with volunteers from the board. It had the added feature of making people feel like it was more of a home than an apartment building.