Monaco
Active Member
Link to Article
Author sold his Brooklyn Heights apartment (co-op with multiple issues) at a steep loss in 1993. Now it could sell for much, much more. Co-op did not allow subletting at the time, so owners basically had to sell when they moved out.
Obviously can be quite painful when looking at recent sale prices.....ouch! OTOH, as quoted from the article:
“The way I’ve always looked at it,” she said, “is that because the market was so bad, we could all move into houses that we couldn’t have afforded if the market had been good.”
Author sold his Brooklyn Heights apartment (co-op with multiple issues) at a steep loss in 1993. Now it could sell for much, much more. Co-op did not allow subletting at the time, so owners basically had to sell when they moved out.
Obviously can be quite painful when looking at recent sale prices.....ouch! OTOH, as quoted from the article:
“The way I’ve always looked at it,” she said, “is that because the market was so bad, we could all move into houses that we couldn’t have afforded if the market had been good.”