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I’ve been sitting on a little bit of cash, waiting for the right moment to put it to use and try to buy myself an apartment.  Considering that a decent one-bedroom apartment in Manhattan costs about $650,000 or so, it would mean that I’d need about $150,000 saved for the down payment and closing costs, to even have a decent shot at being able to afford the mortgage payments.  And yes, I know about IO loans and all those other “exotics”, and most of them are garbage.

I took a look at my savings this morning and I’m actually alot closer than I thought.  I only need to save about $15,000 a year and I’ll have enough for a down payment in about 9 years.  Not to shabby, if I do say so myself.

Well at least the housing market’s definitely starting to simmer down.  I’d say give it another 6-12 months and the number of foreclosures in NYC apartments are going to skyrocket.  Basically all these people that overextended themselves by “buying” $900k apartments on a $100k salary are going to have to sell their shit. 

Especially the ones that have an adjustable rate or NegAm mortgage.  Then again, if you ever took out a NegAm loan, you’re a fucking moron and deserve to be homeless.  Seriously.

And since today’s post was a bit on the nerdy side… this morning on the bus, I saw this really hot chick with a huge cleavage and tigo bitties.  It was awesome.

That is all.

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