Property Grunt is one of my most fav real estate bloggers and as usual, he's got a lot to say about New York real estate and how the economic downturn is affecting real estate there.
As Property Grunt points out, real estate values can increase if locations are near good schools. We've always known that.
(A house on my street recently sold within four days- we're near a good private school.)
But Property Grunt's current post, Getting Schooled, is showing the despair and hair pulling many young parents in New York City are now going through.
Since the economy tanked, they can no longer afford private schools, so they are scrambling to get their children into the better public ones. Only problem is address. They have to actually live in the school zone.
Some families can not sell their apartments, or bought in too high, so even the most God-fearing, honest, law abiding are now resorting to the suburb sin of faking their addresses.
Read Property Grunt's Getting Schooled
Also- as in interesting side note- The Donald is getting upset about higher taxes in New York, and frankly, I don't blame him.
Meanwhile, the Governor of New York is literally buying multi-millionaire Rush Limbaugh a ticket out, since he is also complaining.
Is that the best way to run a state?
Rush, and The Donald- please come to Tennessee. We don't have a state income tax and you'd be welcomed, along with other wealthy folks.
Read Neil Cavuto's It won't be funny if New Yorkers Follow Rush Limbaugh
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