Bad Time To Buy In NYC?

Hello all,
This is my first post on the forum, as I am a new member. I live in Park Slope (Brooklyn) NY, where the prices for Real Estate are high & have gone up 18% or so in the last year ($500,000 for a 2-bedroom apartment, $2,000,000 for a brownstone or multi-unit). The prices here have inflated due to an influx of families moving out of Manhattan. The low interest rates continue to feed the frenzy. With prices already inflated, and interest rates poised to go higher soon, is it a bad time & bad place to invest?

Comments(1)

  • 5MILLIONMORE5th September, 2004

    Jaz,

    "Opportunity is in everything You just have to find it and the bigger the money the bigger the profit!!"

    (The Great "Adrian A. Nevel"wink
    That saying is still true to this day!! grin

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