NYC property values surpass $1 trillion

http://nypost.com ^ | January 15, 2016 | Jennifer Gould Keil and Danika Fears

[samtheman]

For the first time ever, the total assessed value of Big Apple properties has topped $1 trillion

[samtheman]

Thank YOU.

I am really not in the mood for a long drawn-out argument on a derivative subject, a subject that I already find quite depressing.

To repeat: I wish Trump and Cruz could be allies. I guess that is not going to happen.

[Grampa Dave]

#1 foreign Buyers of Californicator Property are the rich Chinese who saw their meltdown coming and bought estates/nice homes here.

#2 Foreign buyers had been Canadian.

#3 In the N Cali area, the next groups of foreign buyers are from NYC and LA.:)

[miss marmelstein]

This is an interesting article on real estate. Why don’t you leave the original poster alone?

[samtheman]

I hope you personally are making some money from all these goings-on.

[Bryanw92]

>>To repeat: I wish Trump and Cruz could be allies. I guess that is not going to happen.

It could still happen if Cruz realizes that this is part of the Trump negotiation strategy. You may destroy a competitor in one business deal, but doesn’t mean that you never want to do business with them again...or next week for that matter.

[miss marmelstein]

My brother lives in Encino. All the property is being bought by the Saudis, not the Chinese. And they’re ripping down all the beautiful ranch houses and building their usual hideous McMansions.

[Bryanw92]

>>This is an interesting article on real estate. Why don’t you leave the original poster alone?

I did. Scroll down, FastFingers.

[SamAdams76]

One of my co-workers has a home in Queens near Long Island City. It's modest, maybe around 2,000 sq ft. His parents bought the home in the early 1970s for something like $22,000 and he inherited it. It is worth $1.6 million today and Long Island City is gentrifying so quickly that it only stands to go up from there.

I'm sure others in Silicon Valley and other places can say the same thing.

[samtheman]

Good point. I hope it all works out.

[Grampa Dave]

“I hope you personally are making some money from all these goings-on.”

Our heirs might do okay.

We have Prop 13 which semi protects us against property tax increases. The problem is the liberals can gin up votes for school bonds, community college bonds and the latest wet dream is an expensive jail to hold all the illegal aliens. Those added assessments now equal my actual property taxes without the jail bond assessment (they never say taxes).

[miss marmelstein]

Long Island City is indeed gentrifying! Astoria is the new Brooklyn, lol! My brother bought a Manhattan apartment 3 years ago for about $900,000 (2 bedrooms, 2 bathrooms but still quite small) and he’ll undoubtedly make a killing if he sells it.

If I bought one tomorrow, I can predict the whole market would crash the day I put it up for sale. I’m now very shy about owning real estate.

[Jim from C-Town]

It boggles my mind the amount of money that people have to pay for housing in some areas. Having been to most major cities in the country, I find it hard to believe that the benefits outweigh the high cost of living.

[P.O.E.]

So if we sell NYC, we could pay off 1 percent of our debt?

[samtheman]

Imagine a world without liberals. How smoothly things would run.

[Jim from C-Town]

Having spent some time in NYC, I can honestly say that a Trillion Dollars is almost enough money to entice me to live there.

[samtheman]

So if we sell NYC, we could pay off 1 percent of our debt?

---

The attempt to sell en-masse would instantly lower all the prices.

But yes, I get your point. Our debt is that big.

[Grampa Dave]

Never underestimate the ability of government, at all levels, federal, state and local to get the best taxation value for its oppression.

[samtheman]

good one

[freddy005]

“So if we sell NYC, we could pay off 1 percent of our debt?”

____________________________________________________________

Actually more like 6% of our National Debt!

[dsrtsage]

I would not pay $29 worth of beads to live there