Comment by 8note
4 hours ago
> people tend to lose money on housing in NYC unless it's held for many years.
I'd generally consider that a success metric? People making money flipping houses on short terms is a bad thing
4 hours ago
> people tend to lose money on housing in NYC unless it's held for many years.
I'd generally consider that a success metric? People making money flipping houses on short terms is a bad thing
What's a reasonable time horizon?
What should happen when you find a mate and need more space than you did when you moved into your current unit?
A friend moved out of his space after 7 years to start a family, and the appreciation didn't cover the closing costs.
they way to “handle” this is to stop viewing housing as “investment” - especially short-term investment. once you do that, you are good. when you buy you will consider all the implications of that decision and then you can live with it when you need different housing