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February 13, 2009
Elizabethan England RE prices
OK--this is a weird post, but I came across this factoid this week. Apparently in late Elizabethan England, real estate prices were set at somewhere between 12 and 14 years of rent, with 14 years seen as a "good price."
By this rationale, an apartment in Park Slope that rents for $2500 should sell for about $360,000, so a PS townshouse would sell for about $720,000. Just throwing this out there.
Comments
Just take the whole house nd throw it in the garbage too, 2500 dollars a month in rent? yeah the time of sticking 10 illegals in a room is over. The manna is over. Homeowners are going to have to earn their money and stop being parasites.
Posted by: hannible at February 13, 2009 5:52 PM
for start you need to factor in taxes, interest rate and utilities.
Posted by: bobjohn at February 13, 2009 9:40 PM
hannible- What the F are talking about? Maybe that still happens in Queens, Maybe, but 10 illegals in an apartment aint what drives rent these days. My last apartment was $2,200 and it was just my wife and I.
Posted by: newsouthsloper at February 13, 2009 10:44 PM
Well don't you think you should be paying a mortgage with 2200 dollars a month instead of inflating rent prices for others?
Posted by: hannible at February 13, 2009 10:54 PM
and where do trolls live, hannible?
Posted by: Putnamdenizen at February 14, 2009 9:28 AM
hannible....meds....please.
Posted by: daveinbedstuy at February 14, 2009 8:37 PM
Well, I doubt they had mortgages in Elizabethan England, and probably a very small pool of potential buyers.
Posted by: hoffster at February 14, 2009 10:10 PM
Just finished watching House of Cards on CNBC and can't really describe the feeling you get when you hear experts say that home prices are going to have to come down at least another 60-70 percent to adjust the housing bubble some people got us in. Housing prices are going to come down in the whole world except in Brooklyn. Brooklyn is protected by supernatural beings that came from outter space, from the planet Brownstoner.
Posted by: hannible at February 15, 2009 7:11 AM
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