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Echo bust

Started by Rhino86
almost 16 years ago
Posts: 4925
Member since: Sep 2006
Discussion about
Watch families flee, as upon reflection the 2-bed/2-kid Manhattan living proposition basically stinks relative to other options. As 2-bed rents fall, so do values. As rates rise, values fall relative to rents... Some time later this decade when employment improves, you have something in Manhattan resembling 1990s conditions...robust rental market with more reasonable price/rent relationships...and the outlook for owning becomes somewhat constructive on a rate of change basis.
Response by columbiacounty
almost 16 years ago
Posts: 12708
Member since: Jan 2009

i think this be will depend on additional factors such as whether both parents work and how secure they feel about the school options in the city.

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Response by Rhino86
almost 16 years ago
Posts: 4925
Member since: Sep 2006

But I think that's part of the thesis....that two people working for an 1800 sqft roof and a $30k x 2 tuition bill is just not all that cool. I believe that over the next five years, families will weight those factors with a somewhat newfound frugality and a higher % of them will make the decision to leave the city. But I am kinda talking my book...

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Response by columbiascounty
almost 16 years ago
Posts: 20
Member since: Sep 2010

This be will depend on additional factors such as whether both parents work and how secure they feel about the school options in the city.

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