Reader Comments

Matt

May 1, 2007 04:42 PM

$800 a month apartments don't exist in Manhattan. Maybe Harlem. Doubtful you could even rent a share for that much.

LAMoneyGuy

May 1, 2007 04:57 PM

Regarding the LA property. That is not a desireable area of Los Angeles. If affordable convenience to downtown is the goal, I suppose it would suffice. But for a single person (which this is presumably designed for), Hollywood offers affordable rentals with better proximity to nightlife, the Westside, as well as downtown.

To top it off, it's not that close to Staples Center. But, I'm not even sure why you would want to be so close anyway. If all you can afford is $800 rent, you probably can't afford Laker tickets.

Kelly

May 2, 2007 10:07 AM

$800.00/Month in Manhattan? I agree. You'd be lucky to find a share in an outer borough for under $1000.00/Month. Let us know where there's a couch in Manhattan for $800.00/Month and I'll bet $800.00/Month a bidding war will break out and the couch will go for at least $1000.00/Month. Maybe they'd even go to "Best & Final" and I'd bet $1000.00/Month that it wouldn't be anywhere below 125th Street. I don't even think park benches go for $800.00/Month.

the213

May 8, 2007 07:45 PM


$800 for a studio in LA, lol, try Echo Park (a year ago), Korea-town, Palms, or Jefferson Park. The going rate for a studio/1BR in a desirable area of LA is $1000-$1400. If you're lucky, you can get a flat for $1200 in downtown.

Honestly, the $800 level in LA equals the hood, an artist loft with no amenities, a crazy landlord, or a combination of the above

FYI: LAMoney guy doesn't realize that the subway goes until 1.10am from Hollywood to Downtown. Yes, there is a subway in LA

az_lender

May 10, 2007 11:25 PM

On the Maine coast, $1000/mo gets you a house so large that you don't mind having a subtenant to pay the heat and defray a small portion of the rent. My $1000/mo place right on the shore is a free-standing house, more than 2000 sq ft, brand new, cathedral ceilings in several rooms. Downside: it's a spec house, it might be sold some time if the builder brings the price down far enough. Another downside: who the H wants to be in Maine in Nov-April. Oh well, it's still a bargain compared to catching a falling knife in the purchase market.

Thank you for your interest. This blog is no longer active.

 

About

BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

Recent Posts

Categories

 

Archives

 

BW Mall - Sponsored Links

Buy a link now!