We bought them at unsustainable levels? If only you knew the true cost of developing a commercial property my friend. Our margins are quite high combined with the fact that rental rates have risen steadily on most of our complexes in California,Florida,Arizona, and Nevada. People in those states have no cash or credit to purchase new homes and are stuck renting apartments at higher rates. Our apartments near college campuses are still booming. I guess that's what comes from building near colleges with wealthier students such as Rollins,Chapman and UCLA.
SamFisher, I love how just because you feel $400K in disposable income we should all feel that way. I personally don't think that's much money. The CEO of my company took in over $15M last year, now that is money. To say $400K is money is nuts, go live in New York or Boston on $400K and see what it does for you. When I was 26 I was make $180K after bonuses at Goldman and barely making it in Manhattan.
Seriously $400K is not much Sam, my second job before I went and got my MBA, I lived in an apartment with a guy I worked with at Lehman and we had a combined income over $500K, barely had a 2 bedroom and both rode bicycles to work. People in houston have it so so good, that's why I live here now.
who are you needy b****es? i live on far less than $400,000 per in new york and have a wife and three kids to take care of... don't know you zantabak1111, frankly i don't want to, but you are an insult to honest people who get by just fine without a life's goal of guilding the lily. FranchiseBlade, how many children do you have out there in california? i've met some of the rudest, dumbest assholes ever in cali and in my opinion people are the most important part of a child's environment. new york is full of awesome people, you should know that.
While I doubt zantabak actually has lived anywhere other than his parent's house, to give you guys an idea of where a person with this income could have lived, most landlords require annual income be at least 40x monthly rent. That means zan and his roomate could have qualified to rent an apartment costing $12,500. NYC is expensive, but $12,500 in monthly rent gets you an absolute f-king palace...a massive luxury loft in TriBeca/Soho, a pimped out duplex penthouse in Midtown.....yet he claims to have shared a tiny shoebox ($2500 on UES, or since he claims to be downtown, $3300 or so). Even if they played it consevative and only forked over $7500 a month in rent, they would still have a true pimp-pad in a luxury full-service building. Lol, whatever. This is even less plausible than basso's ludicrous claims.
thegary, please don't get involved in my business. If you're happy with you're life fine, I personally always want to better myself. I enjoy the nicer things in life and that's my business. I enjoy eating out at nice restaurants and having nice cars if you think that makes me a snob fine, I call that being a capitalist. So you want me to drive a camry and live in some suburb in Katy just so I can pretend like I don't work for a reason. I wake up 7 every morning and come home at 4 in the afternoon because I have one sole purpose in life, giving my wife everything in the world and she's a doctor herself who works until midnight in the ER many a night. We both do whatever it takes to create the life we've always dreamed of. Being a go-getter willing to go the extra mile in this life is something most will never understand.
I wouldn't raise children in LA either. NY is full of awesome people, I don't deny that. I give it up to parents anywhere, because I know that it would be a mistake for me to try parenting. I just know that much from my childhood that I liked, and formed the few good qualities I have aren't as easily found in NY as other places. There is plenty good about NY, and I would definitely want my children to spend time there. But from my perspective it just isn't where I would want them raised.
Really $12,500 gets you nothing in NYC $10,500/ month gets you a 1,100 square foot 2 bedroom in manhattan http://www.sublet.com/spider/supplydetails.asp?supplyid=1048747 So Sam, enjoy living in Brooklyn or Harlem and shut up. Eating out at a place like Tao or Peter Luger once a week with a bottle of Screaming Eagle in NYC with a couple friend will set you back $1K a week. I think I'd know, O wait I'm 17.
Further proof of your lack of an MBA if you think the going rate for 1000 sqft 2BR's is $12,500. What building did you live in? Let's play this out for kicks to see where you take it, shall we?
Wow some people, especially basso, are getting owned in this thread. It's not really about forgoing a certain amount of money. The conservatives/anti-Obama folks here are just using that as a way to scare uninformed people and to generate hate for our President. However, Sam, I think the issue is that even the "$18,000" that a person loses to tax is money lost. It's money that could have been theirs but now it's "everyones". If I was making 300k and now would be taxed $5k more, I wouldn't try to reduce my income to 249k (only wingnuts would claim to do so). But I would be thinking the amount I'm taxed is *not* proportional to the benefits I receive (i.e education, roads, etc.). The counter-argument to this is that I would be making a lot of money partially on the "backs" of others so I should pay more taxes. I think this is where the true debate is. Should I deserve to be taxed more just because my income is a factor of the work of my employees? Should I not be taxed at a higher rate since it was me who took the initial risk of starting a business? Does a balance exist and what would it be? BUT NOBODY IN THEIR RIGHT MIND WOULD REDUCE THEIR INCOME IF THEY HAD TO PAY 3 MORE CENTS ON EACH ADDITIONAL DOLLAR THEY MADE. That's just pure anti-Obama, conservative wingnut BS.
there you go again, you insulting prick. you brought your business into this thread so you can shove it up your ass for all i care.
It's not the going rate, but that's what a nice one will set you back here's one for $9800 http://www.sublet.com/spider/supplydetails.asp?supplyid=1218775 here's another 2 bedroom for $9200 http://www.sublet.com/spider/supplydetails.asp?supplyid=1000395 here's a 1 bedroom for $9,000 http://www.sublet.com/spider/supplydetails.asp?supplyid=1160541 If you want to live on Park or 5th you pay up. I'm sorry not everyone wants to live in a brownstone in Queens. If that's what you want, great, we didn't want that. We wanted to be near all the action. What did I stun you by mentioning Peter Luger and Tao, I told you I used to live there. Sure there's apartment for $3K/month, but those are awful and you know it. You pay to play in NYC.
Oh, but I'm sure that CEO knows someone who makes way more than $15M, so it would be unfair to set the bar there, right?
