24 July 2007

ONLY $2 Million???? ONLY?????

The New York times has an article on the difficulties of finding a family sized apartment in New York.

In truth, they mean Manhattan, because they can be found in good neighborhoods Brooklyn and Queens, but generally it would be no never mind to be, but for this quote:

The elusiveness of these large apartments is hitting people with budgets of, say, $8 million just as hard as buyers with only $2 million to spend. And the fights for the apartments that are available are being won or lost in bidding wars.
Only $2 million? What the hell is up with that? Based on a simple rule of thumb, that means that these folks are making at around $700K/year.

Only in the Times real estate section is this poverty.


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