They are so wealthy that some of them buy single family homes and leave them empty.That said, if you are in a good financial position and want to buy and hold a great piece of property that barely cash flows but have enough reserves and understand the risks, I would say its an excellent time to take advantage of the lower interest rate environment.

hello all-been sitting on the sidelines reading this about 2 weeks now--i have probably been in the longest(8/05) and have just broken even before all this hit the fan-folks, i hate tosay it, but we've been beatim sure 90% of us are hard working folks just trying to feed our families and pay the mortgage--not really the "accredited" investor types--(which they were supposed to verify BEFORE accepting our money)the really wealthy wouldnt need to try and get 25% in 60days---we are the honest ones, who put our trust in people to try and get ahead--and now we rolled the dice and lost(so far)---what we did was NOT investing,,it was gambling---and now our hard earned money is not coming back to us---i GUARANTEE that anyone who says they were paid after the 25th (i was due the 26th) is not being forthright---and at this point, HONESTLY, are you really interested anymore in their new venture?

And while I am no where near wealthy, I did retire three years ago.You want experience?

Drastic reductions in sales of cars and houses mean we have reached the point where even sellers and lenders no longer benefit from the excesses.Despite the class-warfare rhetoric of leftist politicians and the garish lifestyles of some celebrities, most wealthy people in the United States are not showoffs.

The price tag for college is skyrocketing and I think you should look at projections for college costs and make sure that's covered first.I do know a wealthy friend who hires his kids to model for his business and the money goes to their IRAs.

They just aren't basing their buying decision on the chance of appreciation.Then of course there are the wealthy landlords who can afford to buy rentals in places like Manhattan, or affluent suburbs, and wait a few years for appreciation even if they come up negative while it's a rental.

They care about the reputation of a company that makes them wealthy. 

So living amongst the wealthy is a bit of a motivational taser to me.

You may be missing the really good deals if that's what you do.So the real issue here isn't that you can't Afford NYC.The real issue here is WHY CAN'T YOU FIND TRUSTWORTHY Partners to help each other mutually get wealthy?

I imagine money bags is quite wealthy?