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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]A lot of the benefit of buying is non-financial.  In some instances it’s just a different product not available on rental market.  Can’t really rent on Park or 5th.  Co-op rules create a better environment - people who actually live there as their primary home, some element of screening, strong community where you know your neighbors.  Obviously, there are dysfunctional co-ops too but the good ones are worth it.[/quote]

This. Buying is a consumption and lifestyle decision. Buying in Manhattan hasn’t been a good financial decision for over a decade and your property won’t keep up with inflation. It doesn’t matter if it’s a townhouse, coop, or condo. If you’re looking at areas flush with luxury rentals, you’re a fool to buy thinking it’s an investment. [/quote]

Except buying can lock in housing costs. [/quote]

Not in NYC. You have monthly maintenance and insurance. Monthlies have outpaced inflation by a good deal and this went on pre COVID.  Health insurance, doorman unions, and deferred capex have gotten out of hand. If you want predictable property taxes then move to a state that limits annnual increases. [/quote]

1-3 family houses have preferential property tax and you have control over maintenance. Many civil servants are millionaires in the outer borough.[/quote]

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