October 15, 2003

living in the ci-TAY

POST #    454

a recent study, released by a real estate firm in new york, reported that the average price of an apartment in manhattan is now a whopping $919,959!! how insane is that? a typical american household in the u.s. makes $42,409, which, as the ny times reports, means they would have to save for about 21 years. 21 years without things like food, clothing and everything else. that doesn't even include the maintenance. the median apartment cost (which is the exact middle) was a measly $575,000. psh, most new yorkers can apparently do that in their sleep.

what does $919,959 buy, you ask? the times found twelve places for sale for $900,000 - one three-bedroom apartment, eight two-bedrooms, two one-bedrooms and a loft where you have to build your own walls. hardly the palatial living you would typically associate with those costs.

it should be noted that my apartment did not fetch nearly as much as the average studio cost of $303,895. nor was it close to the average cost last year of $258,826. c'est la vie.

Posted by tien mao in NYC at 9:24 AM



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