Buy and Hold in Expensive Areas ?

[Yash Sehgal]

Hi Everyone,

I am an aspiring investor in the NYC area. I was always curious as to how people are able to invest in this are given how expensive is it. (Home price, property tax, etc) Is it worth investing in high priced markets? What have your experiences been?

[Kristina Anderson]

People who buy here (NYC) typically have family money or very high-paying jobs. The general person isn't able to save the 20% down from working a "normal" job. The cost of entry here is way too high, I feel. We own our primary residence (a 3 family in Crown Heights) but invest in Columbus for this reason.