A million dollars will now get you what used to cost $175,000 twenty years ago.
http://www.nytimes.com/2014/04/20/realestate/the-million-dollar-manhattan-apartment.html With a budget of about $1 million, Patricia Marx began looking for a two-bedroom, two-bath apartment in Manhattan last fall. She soon realized just how limited her options were. “For a while, we were determined to acquire the large two-bedroom in the back of a building on Fifth Avenue,” said Ms. Marx, a staff writer at The New Yorker who is looking for a larger space with her boyfriend, Paul Roossin, a scientist and tech entrepreneur. “The apartment’s asking price was within my range, $995, but the board required you to have amassed three times as much money in your bank account as the purchase price. “In other words,” she said, “you had to demonstrate that you were someone who would never want the apartment you claimed to want.” (clip) _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
