Thursday, March 11, 2010

The Housing Preferences Mystery

Every month or so and even more regular than that we see reports coming out regarding how well or well not the housing market is doing. I was reading a report regarding the somewhat rebound of the housing market in Manhattan in New York city and it just blew my mind. People are willing to pay more than million dollars for a little bit of space (like 2000 to 3000 square feet) with no back or front yard just to be in a so called chic neighborhood of the city. It is really fascinating how the mind of each individual works in every thing and especially when it comes to buying houses.

Although I agree that there are perks of living in the city where you don’t need to have a car in order to buy your groceries and your discretionary stuff. You can go out to clubs by just walking or don’t have to take care of your lawn or clean the snow in front of your building. Every thing is right there but to pay seven figures money just to enjoy these perks and with crammed apartments (to me at least) is just plain ridiculous. But as one of the realtors said long time ago when I was trying to buy a house in the suburbs that every house (or for that matter, studio, apartment, condominium etc) has a buyer. It is very true every buyer has its own tastes and preferences and requirements. But for me I like a big house with lots of space and a huge backyard even if I have to stay in the suburbs.

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