Urban Renters Buying Vacation Homes
While renting in the city, do you escape to a vacation spot that you own? The New York Times looks at the growing number of first-time home buyers who rent in New York City and buy a weekend home in the second home markets in the surrounding areas. They’re taking advantage of a slow real estate market with significantly less money than it costs to buy an apartment in the city…
Last week we looked at the weekend home renovation of Williamsburg renters and this article looks at recent buyers in the Catskills, ocean-front Queens, and the Hudson Valley.
(Images: ©2009 Ruby Washington/The New York Times)