Open Thread

THL, there’s a mortgage tax in NYC for real ppties (ie condo’s and houses) – that’s why I was asking

http://abovethelaw.com/2009/05/quinn_emanuel_redskins_reservations.php

BTW, I was dying to throw the above link to you guys to hear what you have to say about it. I thought it was hilarious. In this economy, if you can be a CORP attorney and do that making $160k, you are my hero…ish.

I don’t know what the rental market prices are in Philly. basically all of Center City and South Philly

DH et al. on Miami,

The biggest issue is maintenance and assessments in Miami (not to mention the prop taxes but we’ll talk about that later). FL has no income tax, so they prop tax the hell out of people. In terms of main and assess, the problem is most of the lux buildings have multiple foreclosures and other issues making the few people in the buildings have to pay the maintenance for the others. Also, if something breaks code or whatever, the nut has to be divided among the few paying maintenance because it has to be paid. A house is probably the best bet and it is probably the best time to buy, or will be in like 6 months when people realize that its not gonna be a V shape. I would love to buy an OK house in a great neighb in Miami next year. We shall see.