Ask an expert: More real-estate knowledge

I know, I know, you don't have time for dry stuff like where to put your money when you're buying an apartment in the next year. You're busy figuring out how many Spider-Man 3 tickets to buy. (Act quickly: One showtime is already sold out on Fandango!) But ask yourself, are those tickets going to appreciate into something you could one day borrow against to fund your kid's education, or even finance your retirement?

I think not. One day you'll thank us for this golden insight. Direct all gratitude and any additional questions to

Several friends and family members have cautioned me about buying an apartment now, since they think that the New York housing market is going to crash. Do you think the bubble is going to burst? Would it be better for me to invest my money in the stock market?

—Cindy, Manhattan

Experts' take: There could be a slump, but a crash? If an apt. is offered for anything remotely like a bargain, the line of buyers would go all the way to Staten Island. There's plenty of demand out there. You'd be fine buying if you plan to stay in your apt. for a long time.

The stock market is good for long-term returns. It's not the place to put your money if you're planning to pull it out again to buy a place in the near future. Instead, look into short-term bonds, CDs or funds.

Are there any "deals" in Manhattan?


Experts' take: Try estate sales; they often yield attractive buys.

Answers provided by Robert Gordon, a mortgage broker with Mortgage Max, LLC, and Francis O'Day, a personal accountant with the firm James O'Day, CPA