Tuesday, December 15, 2009

Make Dwellings more Generic for renters

My friend has just become a real estate agent inNYC, (Predominantly Brooklyn,) NY. This would have been a grave decision a year ago, but I feel the unique thing about her job is that she's solely showing apts for rent. So she has a bit of a more consistent income with renting higher than buying in NYC. Personally I would only buy, but I observe and assert the value of not taking a mortgage to live in an apt. People typically stay in apts for a lot less time than people who buy apts so there is more of a market supply and demand which is good for my friend. Unfortunately, for all the reasons you listed Mark; this isn't good for brokers. Though I like to have something to show for when I'm finished living in a particular dwelling, that I can make some money back on, or even profit on, it seems the market is in turn with renting for unforseen economic reasons.

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