New york city people only?

Question

whats up with all these house being built up around the 5 boros that seems like they are being completed in a month.I went to an open house for one in queens.the lady said that the house was to be sold for 700 grand and belive me my apartment was bigger.i told this lady she must be joking for the price of this crap house.also they are tearing down one family house's to build 3 and 4 family house in the lot.the bed rooms look as big as my bathroom in my apartment.

Answer 1

i know what you mean its a cheaper way to built without quality homes its just a smart way to take advantage of first time home buyers.the city is driving out certains class of people so they make these fabric homes that no one else would want.eventually they will rent them out for 1400 per month

Answer 2

As a fellow New Yorker the boroughs are going under revitalization. They are tearing down the older outdated homes and replacing them with better homes. The homes are definitely small in the boroughs but remember you are really paying for the location and land. The closer to NYC the more expensive places become. Think about that 700k house in Queens compared to a 1 bedroom condo in Manhattan 500-600 SF. If you want a better bang for your buck you should look in the suburbs but the taxes are about three to four times more than the boroughs. The boroughs do not pay school tax but the suburbs do.

Answer 3

You have a lot of people living in the city and limited space, and people are willing to pay those prices. She'll be able to sell for that price, given the high number of high income individuals (especially with Goldman Sachs announcing $16 billion in year end bonuses this year).

Answer 4

It takes a month to build a house in New York City?

Come on, guys. Get a move on!

Answer 5

imagine the taxes? LOL