Thread: The Vent and Rant Thread
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Old 03-14-2016, 03:12 PM   #27425
wodin
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Quote:
Originally Posted by DMcCunney View Post
The scarce resource in Manhattan is land, so prices in the stratosphere are no surprise...
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Dennis
My 5400 sf lot assesses at $450K without the house, Zillow estimates the total value at $700K. That for an average fifty year old house on a postage stamp sized lot in a middle class neighborhood.

So yes, the scarce resource is land.
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