> You’re assuming they own the property outright with no mortgage, which is pretty unlikely. If they own property in New York City and were able to qualify for

> You’re assuming they own the property outright with no mortgage, which is pretty unlikely. If they own property in New York City and were able to qualify for any sort of mortgage on a working class dual-income, then it's highly unlikely that they bought that property at any point within the last 30 years, in which case - if there was a mortgage - it should be long paid-for by now.