Tom Colicchio says Renting Cheaper than Buying

Daniel Bouley is behind on mtce charges on his DT condo. Resto industry is not doing well, my friends.

the "value" restaurants are packed Thursday through Saturday. so you might think they're doing OK. but they were packed Thursday through Saturday before, with higher prices, and did much better business Sunday-Wednesday.

Some of the higher quality restaurants that don't have special appeal, or star allure, are dead (comparatively) almost all the time.

Um, Colicchio makes this remark as well: "I already own a house on the North Fork of Long Island. So I don’t need a tax break..."

Tina
(Brooklyn broker)

So Tina would buy a house for the tax break?

Another attempt to twist any possible comment to your viewpoint. It would be helpful to give his full quote:
"Why rent? I already own a house on the North Fork of Long Island. So I don%u2019t need a tax break, and I can%u2019t afford to buy the space and the view I am able to rent."

Yes, poor guy is basically destitute because of the economy. North Fork is bleak. He better get a second job.

Um, Colicchio makes this remark as well: "I already own a house on the North Fork of Long Island. So I don%u2019t need a tax break..."

Tina
(Brooklyn broker)
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after obama is done with his bs of closing loopholes, he will find out that more tax revenue is needed. don't take for granted the housing break will stay for those households earning more than $250k...

Not being able to afford a place that one can rent doesn't necessarily mean it is cheaper to rent.

I'm just saying the guy is a renter AND an owner. As with most things, it's complicated.

And while I wouldn't buy a house for the tax break (c'mon stevejhx!), I'd get creamed at tax time without it. So I'm really really really hoping Obama doesn't cut the mortgage interest deduction.

Tina
(Brooklyn broker)

reason i would buy an apartment....i'm getting tired of renting and would like to settle in one place where i could paint and decorate and know that i'm staying for a while.

> Not being able to afford a place that one can rent doesn't necessarily mean it is cheaper to rent.

It sorta does... unless you can't afford the rent you are paying.

"So I'm really really really hoping Obama doesn't cut the mortgage interest deduction. "

relax tina, obama said he's not gonna harm those that are not rich with higher taxes

There are a lot of people that can pay a monthly number but don't have 20+% to put down.

julia: just rent, I will send over a painter for you

true, and also there are many people that use "cannot afford" instead of "i'm not prepared/willing to pay that much for that".

example: i heard retirees say: "i cannot afford to pay property taxes to educate kids that are not mine". but then they take vacations, buy new cars, ... the "cannot afford" is politically correct talk for "don't want to" sometimes.

I've got to tell you, I posted this because I thought it was funny.

Have to say, I clearly struck a nerve here with some folks. Clearly a lot of bitterness these days...

patient09...love it, but it does get tiring...

"reason i would buy an apartment....i'm getting tired of renting and would like to settle in one place where i could paint and decorate and know that i'm staying for a while."

Personally, I'd be very happy to let someone paint for me, and save thousands each month.

and then there's me. i'm painting my rental (myself).

When I had my stabilized place, I paid folks to paint it. Hell, I could have spent $1500 a month on renovations and still would have made money on the deal...

julia, in rent stab the management company will paint for you each 3 years, the color you prefer. if you leave htey might ask you to paint it back into the original color. at least that's how it is in our building.