If Statement not working, when using elif

No Clue why this doesn't work.

Script Below: 
def dirpricker():
    prompt = '<>'
    print("Where do you want to install Deploy in the Current Dir?  (Y/n ")
    Userinput = input(prompt)
    print(Userinput)
    if Userinput == "Y" or "y":
        print("Not Ready Yet!")
    elif Userinput == "N" or "n":
        print("No")
    else:
        print("Please Choose either Yes Or No.")
        print(prompt)
dirpricker()

thanks, Matt

Output: Not Ready, Even after inputting No.