Actor Michael Shannon cant help but say that New York City Real Estate is idiotic, this is in reference to the cost of buying a property. It is noted that the Hollywood actor lives part time in the city of NY.
Page Six says that Michael Shannon, who attended the premiere night of "99 Homes"- (a movie about a construction worker who has evicted from his home), commented about the real estate housing prices in New York City. He told Page Six that the cost to buy a home in NYC is really idiotic. "My sister just bought a place in New Orleans for $245,000. A three-bedroom house. I said, 'In New York that would probably get you a 5-gallon drum, if you're lucky' . . . I think it's idiotic," Shannon said.
Realtor states that there have been several adjectives that are commonly used to describe the housing price in New York City. People can pick from the words like expensive to astronomical, but calling it "idiotic" is something new, perhaps unusual. It is quite far to say that "it's stupid to buy a home in Manhattan, but it's definitely not easy for the little, or even medium, guy." What is quite true is that housing market including rentals are a bit pricey. The usual figure that is an asking price of a home for sale is over $1 million, statistics supports that "3,301 out of 4,931 homes for sale" are actually within that a million price range. As for house rentals, the average rent right now is $5,129. If you aim for a 2-bedroom apartment, rent is at least an average of $6,953.
It is also true that housing price in New Orleans is a bit cheaper compared to New York. The average listing price there is $184,500, and the average sold price is $187,750. There, a two-bedroom will cost you on average $1,986." Since he mentioned about the price of the house his sister bought in New Orleans, that $245,000 in New York City would only "probably get you a 5-gallon drum, if you're lucky," Shannon added.
What about you? How would you describe the "Real Estate Market In New York City?" Comment Below.