New York, New York

From New York Magazine, we have S. Jhoanna Robledo writing about This Isn't Their Moment.

Few jobs are as irregular as acting. Which may be why Jeremy Kushnier waited until last year to buy his one-bedroom in Morningside Heights. “I just got tired of paying rent,” says Kushnier, who coincidentally had been playing Roger in the Broadway musical Rent. “I was lucky enough to get great jobs in the past few years, and I wanted to build some equity.” So much for that: Sixteen months later, Kushnier’s selling his place and moving to Los Angeles to join his actress girlfriend. If he gets his price—$509,000—he’ll do slightly better than break even. But a little negotiation could wipe out his profit altogether.

Let's see what's wrong with this picture. He's an actor - the ultimate temp job, if ever there was one. Most actors wait tables in New York, and even those working on Broadway don't actually make that much money.

He bought a one-bedroom for half a million dollars. An actor buying a half a million dollar condo!

And in Morningside Heights!!!

For those not familiar with Manhattan, this is technically on the island but so far away from any amenities that it might as well not be.

Also, anyone who makes the kind of dough to cover that mortgage will not live in Morningside Heights, flat out! (This "actor" probably has an interest-only or neg-am loan.)

But the best is yet to come:

Kushnier’s co-op doesn’t allow sublets so soon after an owner moves in—ruling out that option—and the expenses are piling up. “It’s a financial burden,” he says.

Can't rent it out. Can't pay for it either. Trying to move to LA to get a job.

I bet he's shitting ice-cold bricks right now!