Real Estate Investment and Minimizing the Distance Between Grandkids and Grandparents

One of the great features of cities is that they economize on transportation costs and allow more trade to take place. Workers wake up and must go to work. If such workers could move at 1 million MPH, they would have more jobs to choose from. If the "time price" of an activity decreases, then the law of demand tells us that you will engage in more of that activity. With this thought in mind, read this article about NYC real estate.   Families in Manhattan are buying second apartments close to their apartment.  This proximity encourages the grandparents to spend more time with grandkids.    In the past, I had thought of "second homes" as vacation homes that would be physically far away from the main home.   This new investment pattern raises questions of diversification but the grandkids do benefit. 

Comments

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[lerma]

I always dream to have my own space in the city that never sleeps because it’s more conventional and saves a lot of money for your transportation that’s why right now I am doing my best to save a lot of money to buy a nice apartment or a condo unit. Anyway, it’s also a great way to share to you guys what I found online about Migration Expert visit there site here at http://www.migrationexpert.com/visa_us/ to view their services. They offer visa consultation and advice for US visa applicants. They also have a free online assessment for applicants. How cool is that!

[Aldrin Allan Reyes]

I have to agree, this will help in developing the relationships between the grandparents and their grandchild, specially when the parents of the children are away, the grandparents are there to look for their kids. Though I'm living here in the city, and an IT student on Microsity Computer College, I love the fact that my grandparents are living with us.

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[Jeremoll]

Second homes are always a good idea if you can afford them. That gives you best of both worlds
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