« Farm-a-Lox | Main | Camille Paglia »
April 11, 2005
Real Estate Closure
As for the real estate bind we're in, we've argued and calculated and we've spent hours staring at the floor with anguished expressions and ... we've decided not to buy our place. Key phrase: "Too much of a financial burden." I repeat this when I start to get upset about leaving and it doesn't really help, but whenever we sit down to go over exactly what type of committment would be expected of us we end up with a decision to rent for a while longer. If we could be sure the market would continute to rise like it's on crack it wouldn't be such a struggle. But dig into the history of New York real estate a few decades and you'll find this lovely chart:
Which goes to show that, despite what our realtors and neighbors say ... the real estate market CAN go down. Yes, Corcoran devotees, it's possible. Rising interest rates and speculation don't help. And although I'm not dead set against staying here for ten years (the amount of time it would have taken to recover a condo purchase in 1989) I'm not sure I'll feel the same way in five years. Plus, our careers need attention, and we're not ruling out a move to a place that's a little quieter and greener. So "Adventures with Cindy and Derek in Brooklyn Real Estate" comes to a close, for now.
Posted by csageday at April 11, 2005 01:06 AM