Quote:
Originally Posted by marothisu
It boggles my mind too, but Chicago is the unknown jewel of the US in a way as far as urban cities go. Once people visit then many times they say "oh shit...nice" from this perspective. Still kills me though. However, you have to be careful getting what you wish for as this can drive prices way up if there's too much of it which could not be good for residents. In any case though, getting a few more wouldn't hurt  |
Since I already own, I'm ready for prices to spike. According to Zillow, the average list price for homes in New York City overall is about $850 per square foot, and about $1,800 per square foot in Manhattan. Since I paid about $300 per square foot for my place in River North I'd be overjoyed to see my valuation pop like that (although if my property taxes were six times as high, I might have trouble affording to stay here since I'd be paying something like $3,000 per month just in property taxes if they increased proportionally. But being able to sell and be a millionaire would take some of the sting away.