Whether it is during financial crises or periods of economic prosperity, real estate is frequently on the minds of New Yorkers.
According to The Almanac of New York City, New York City has the most expensive average rents in the world, followed by London, Chicago, Frankfurt, and Geneva. Here are some other stats to chew on particularly those considering a move to or from New York City:
* In 1997 the average sale price for a 2-bedroom apartment in Manhattan was $488,246 by 2006 it had shot up to $1,571,807
* If you are looking for a 2-bedroom apartment to rent, Chelsea has the most expensive average monthly rent of $4,638 (based on 2005 figures), followed by Murray Hill ($4,267), Soho Tribeca ($4,165), Battery Park City/Financial District ($3,786), and Midtown East ($3,759)
* The highest sale price for a residential property in 2006 was $53.0 million for what must be a modest abode at 4 East 75th Street.
* Residents looking to buy their homes or apartments have found Staten Island to be most hospitable. Staten Island has an ownership rate of 67.7%. Rates for other boroughs include Queens (46.4%), Brooklyn (29.2%), Manhattan (23.6%), and the Bronx (22.1%)