Fleet of moving trucks mark exodus from Manhattan's troubled Upper West Side. "These are the people who elected de Blasio, who live here. It’s a progressive, liberal neighborhood. They said there have been so many disturbed people in the streets, aggressively panhandling, defecating, urinating"

submitted by Chipit from nypost.com

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[–]Nemacolin 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

So what do you think I can get for $500k in Manhattan now? I am betting a penthouse.

[–]Canbot 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Nope, sorry. 1 bed in lower Manhattan at best. This one has been on the market for almost a year. Prices are down by about 10%. Anyone buying right now is either insanely rich and expecting hyperinflation or retarded.

If we don't get hyperinflation within the next 5 years or so this property will be the worst investment you could make. If we do get hyperinflation, any property you buy will be better than sitting on cash, or not having any loans getting inflated away.