Even Manhattan is cheaper than most places according to the same metric. | Hacker News

Hacker Newsnew | past | comments | ask | show | jobs | submit

		endisneigh on May 6, 2022 \| parent \| context \| favorite \| on: Homes in 97% of U.S. cities are overvalued, Moody'... Even Manhattan is cheaper than most places according to the same metric.

brewdad on May 6, 2022 [–]

Many apartments (condos in the rest of the country) in Manhattan are structured as co-ops with huge monthly obligations. The sales prices are lower because you can easily be committing to $2000 a month in payments to a co-op board. The total monthly outlays bring the numbers back in line.

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact