by starfox64 » Thu Nov 07, 2013 11:51 am
when i lived in bed stuy in 2008 my landlord had bought the building for like $800k and there were four apartments in it. i'm sure the property has like doubled in value now. i'd like to think that over the next five to ten years, property in major cities (ny, sf, chicago) will only increase in value, but it seems so uncertain at this point.
my mom's youngest brother is like four years older than me, and a year or two after he graduated from college in bought a house out in the suburbs of chicago (in naperville if anyone knows where that is). i think it's the third largest city in illinois, but it's still a suburb thats 45 minutes from the city with good traffic. but it was close to work and in a nice neighborhood, so whatever. anyway, he got transferred to texas after like 3 or 4 years and he was stuck with this house that he was having trouble selling (at like the height of the financial crisis) for months and it was such a clusterfuck that it's really scared me off of buying a home, just because i have no idea where i'll end up five years from now and i don't want to end up trying to sell my house remotely or something. granted this is less of a problem in manhattan or SOMA than it is in naperville, but still.
"Authorities say the phony Pope can be recognized by his high-top sneakers and incredibly foul mouth."