Thursday, June 11, 2009

Inflation

Kari (from parts unknown:-)) left this story in a comment yesterday. If you don't feel like reading, someone paid $300,000 for a parking space...yes, you read that right, a rectangular piece of asphalt or brick or concrete upon which you can park your car;-). If you recall, this is awfully similar to a story I noted in December of 2006 about another parking space in roughly the same area selling for $250,000. So...my quick math says that is a 20% appreciation in 2 1/2 years...

Take that, Real Estate collapse!!! I should note that this is an unusually high price even for the area, meaning it must be in a particularly good spot...near a ton of super rich people with very little parking for a half-block or so. But, I think an average parking space in the Back Bay probably sells for like $100,000. Not sure I have any commentary on the absurdity of that beyond what you are probably all thinking. (Well, except for Laurwilk and anyone else who lives in Manhattan, London or Tokyo who probably finds it to be pretty darn reasonable!)

Anyway, since I live not too far from there (if you click through, you will see that I actually give you a hint where I live;-)) you can see where the difficult arises in my desire to buy the condo that we live in from Smoking Hot Roommate for a fair market price. The Boy and I actually sat down about a week ago to make a formal plan about doing that, as well as some other financial questions (seriously...the periodic "Make sure we are on the same page money-wise" meeting is probably a very good idea), and I think we are in good shape to do so sometime soon, but we will have to see.

I guess that is all you get today...lol. I was going to write about something else, but I got sidetracked and now I am out of time and have a meeting to run to.

Red Sox game tonight:-)

4 comments:

Kari said...

I'm from the far north (ie Western, Northern Canada!)...don't have a blog...'cus well, I am lazy. Like reading blogs though!
Thanks for the commentary on it! People at work were discussing it this am...and I thought you'd likely have some comment!!

Kari

Smoking Hot Roommate (and Landlord, for now!) said...

Who says it's for sale?

Kidding! I will be extremely happy for you when you finally pull the trigger on it, whether it be this summer, next or whenever. Don't feel like you need to rush.

Can't wait for the game! Munchkin is gonna be HELLA-JEALOUS!

Ys said...

There must be something in the water cos Ray and I were discussing the old finances because we hope to buy within the next year. We're hoping the first-time-buyer deals can help us out a bit, but then again you never know what you're going to fall in love with do you?

Enjoy the game!

Lisa Chelle said...

I love the Sox!