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Re: Why do you Rent ? Reality Check

Posted by Cranky Tenant on November 06, 2001 at 01:08:34:

In Reply to: Re: Why do you Rent ? Ownership doesn't just mean single family houses posted by Curious on November 05, 2001 at 20:00:03:

Not expecting anyone to "give" me a $200,000 apartment for less than the market value. I'm just saying that as a rent stabilized tenant in Lower Manhattan, the incentive to pay more, and probably commute to work, isn't much of an incentive to buy. I'm sure if you had the same options you wouldn't find my logic so "twisted" or 6% on a 30 year mortgage so attractive.

: What your saying makes sense - in a twisted way. There are plenty of apartments available in NYC for way under $200,000 - but not in tony Lower Manhattan neighborhoods where you live. Don't expect someone to give away a home for less than market value. I'm glad you're happy with your rent stabilized apartment. I guess you're also happy with the guaranteed rent increases every year. And you must be happy with the knowledge that at any time the LL can decide to renovate, raise your rent, or simply take over your apartment for his own use.

: While you get hit with rent increases, those who own their homes enjoy long term appreciateion. While you complain about your lousy building, those of us who own are busy redecorating. No surprises that you're the "Cranky Tenant"!!!


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