It’s hard to feel sorry for folks blessed enough to occupy rent-controlled real estate. But such apartments can be a bit of a curse; who can summon the courage to leave them? Well, the NY Times profiles a woman in “The Hunt” column of the real estate section who wished to break free of her $700, two-bedroom apartment in Midwood. LaVerne Walker is an accountant and frequenter of an investment club, and wanted to own for the tax deductions alone among other considerations. Her budget: $250,000, and, predictably enough, she couldn’t find a two-bedroom for that in Brooklyn. Moral of the story: move to Jersey City, where she got a three-bedroom for $230,000. Maybe she can see Brooklyn from there?
Life After Rent Control [NY Times]
Photo by mudpig.