I am deciding whether to purchase a 1bdrm apartment in Manhattan or to rent. I am planning on living in Manhattan for about 5 years, and want to know if this is worth the investment. The reason I ask is that I can not bear to throw away 30K a year on rent, rather, I'd like to spend that money on buying a place. My wife and I will most likely live in the city for about 5years and then sell the place to finance a home in the suburbs. Is the NYC market going to burst? Seems like in every other market, the housing market is on the decline but NYC is immune to this. Can someone please help shed some light on this topic and whether I should buy or rent now? I dont want to lose money on this investment and want to make the most well informed decision. THX!!!
2006-11-30
03:59:29
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4 answers
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asked by
greenphishes
1
in
Renting & Real Estate