‘Bob’ sent the following note and images to VREAA by e-mail, 14 Oct 2010 - “I’m a Vancouverite who recently had a chance to spend time in New York City. The five boroughs have a total population of 8.4 million and a population density of 10,630/km2. The New York metropolitan area has a population of 19 million and an approximately gross metropolitan product of $1.13 trillion (2005). By comparison, our entire nation, the whole of Canada, has a GDP of about $1.3 trillion (2009).
While walking about the city, my wife and I found ourselves looking at photos posted in an upscale realtor window (housing ‘porn’, as some people call it), advertising Upper East-side apartments and condos. Desensitized to high prices by the Vancouver real estate market, we were pretty surprised to see the kind of thing you can get in Manhattan for your buck.
For instance, to give some examples that come up after an internet search (in these cases all by Sotheby’s) – this 1 BR in a very prime area, ‘close to Fifth Avenue, located on New York’s Museum Mile next to Central Park’, ask $950K:
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