From Park Avenue to Park Slope
If your net worth has taken a hit, it might be time to relocate. Where are you going to go?
As thousands of people across the world who work in the financial-services industry and related fields lose their jobs or see their incomes slashed, many of them will be forced to rethink their economic priorities. All of a sudden, things that had seemed affordable last year now become albatrosses. Does it really make sense to hang on to that expensive Park Avenue apartment when a less pricey alternative is out there? Sure, you may give up such amenities as proximity to Central Park and a status address, but, face it, it’s way out of your budget these days.
So what to do? Relocate.