RENT IS TOO DAMN HIGH!!
Manhattan rents cross $5k threshold for first time
421–430 of 1001 posts
Re: Manhattan rents cross $5k threshold for first time
#422Earlier quoted context omitted.
The article is about Manhattan. Do you have any idea if it has similar problems? In my mind, Manhattan is pretty dense.
The high prices in Manhattan are caused by the low supply of other Manhattan-like density and public transit capable cities in the US.
Manhattan is expensive because rich people want to live there. Brooklyn and Queens and Harlem have density and transit but cost less.
Re: Manhattan rents cross $5k threshold for first time
#423The problem for me, as a long time NYC resident, is that there's no other place in America I want to live even with work from home as a possibility. I like mass transit. I like not owning a car. I like that the city is generally safer than the rest of America. I like that it's the center for tech on the east coast, the arts for the entire country, and finance for most of the world. I like that we generally get along…
If you really like mass transit and want to live without a car, America is probably not for you. USA got rid of most streetcar systems a long time ago and rebuilding them from scratch in current NIMBY climate is basically impossible. And subways, which are much more expensive than ground transit, only make economic sense in several metropolises. Try some European city with reasonable rents like Warsaw. Even the skysc…
There’s no fundamental reason “America is probably not for” people who want high-quality, dense urbanism. The rent in NYC is a clear sign that there’s demand for it.
Re: Manhattan rents cross $5k threshold for first time
#424The problem for me, as a long time NYC resident, is that there's no other place in America I want to live even with work from home as a possibility. I like mass transit. I like not owning a car. I like that the city is generally safer than the rest of America. I like that it's the center for tech on the east coast, the arts for the entire country, and finance for most of the world. I like that we generally get along…
The city is safer?
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Re: Manhattan rents cross $5k threshold for first time
#425Earlier quoted context omitted.
>I’m saying it’s quite possible to introduce regulations into the existing system that force certain actors to behave. Tell me how you want to reinvent taxes and rent control, without knowing that you want to reinvent taxes and rent control. > I’m really frustrated by these incoming renters too. You are passing judgment to all these different groups of people, without any shred of fundamental principle to justify why…
> They don’t owe anything to you or the city. Of course not. And I don’t owe them anything either. By the same terms of your argument there’s no reason I should be satisfied with just letting them do what they want when it affects me directly since you’re stating that I should not try to do anything that affects them directly. I have my desires, which requires placing demands on their behavior since they are ignorant…
> just letting them do what they want when it affects me directly
Unless someone straight up breached their contract to evict and give "your" apartment to someone else, you were not affected "directly" by anything.
> I have my desires, which requires placing demands on their behavior
Desires? Is this really the word that you want to use? The more you write, the more you are displaying your sense of entitlement.
> (your post) which tries to effectively say “we tried everything, there’s no possible other solution”
There is absolutely no point where I said anything like that. Please stop assuming things. If you want to restart the conversation around that, by all means let's do it. But if you want to argue by baseless statements, I'm not your person.
Re: Manhattan rents cross $5k threshold for first time
#426Earlier quoted context omitted.
https://nypost.com/2021/08/05/nearly-half-of-luxury-units-em...
Seven buildings. That's not representative of...anything. It's not even worth talking about. And the effects are largely positive for the city, anyway. You've got a few big, empty buildings concentrated on one street where billionaires park their money, pay a bunch of property taxes, and use zero city services. That's an unqualified win .
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Re: Manhattan rents cross $5k threshold for first time
#427The problem for me, as a long time NYC resident, is that there's no other place in America I want to live even with work from home as a possibility. I like mass transit. I like not owning a car. I like that the city is generally safer than the rest of America. I like that it's the center for tech on the east coast, the arts for the entire country, and finance for most of the world. I like that we generally get along…
My partner and I have been agonizing over this exact dilemma. We have an income number and an expenses number and when those cross a certain point, we've gotta go somewhere else. So there's a very good chance that we'll immigrate somewhere in a few years. But yeah, try as we might, we couldn't come up with another US city that either of us would want to live in.
To me, only other places that compare to NYC are Singapore and Sydney. Great food in Singapore, great weather (usually) in Sydney. The people can be a bit busy in Singapore though.
Certainly no NYC, but they ticked all my recreation, arts, food, people and transport boxes.
Unfortunately, they’re all so goddamn expensive to live in.
Re: Manhattan rents cross $5k threshold for first time
#428Earlier quoted context omitted.
This is a conspiracy-theory-level analysis that isn't supported by any available evidence.
https://nypost.com/2021/08/05/nearly-half-of-luxury-units-em...
There are insane tax breaks these luxury apartments get, too, on the order of a 90% discount. It's not like these properties are generating huge windfalls for city or state government.
https://www.nbcnews.com/business/markets/billionaires-get-lo...
Re: Manhattan rents cross $5k threshold for first time
#429Earlier quoted context omitted.
> and property owners provide almost no value, but to provide access to housing for people who has no capital for it, which is service that could be perfectly provided by a state entity. Property of course requires maintenance and management, so the sleight of hand here is to define away all those aspects of ownership so that by definition all that's meant by "landlord" is "old guy who cashes checks." But somebody ha…
Found the landlord XD. FWIW, I'm with you, I think rental income ("landlording") and airbnb-ing are both legitimate demand, and the system would work fairly if we didn't have artificial constraints on supply. Insofar as landlords actively work to constraint supply to artificial inflate rents, it is immoral behavior (but 'muh' neighborhood) and we should not allow it.
Technically true. I owner-occupy a duplex, so I maintain exactly one rental unit. Unfortunately for me, I'm too high in conscientiousness to be a cutthroat landlord and I keep dumping money into improvements without raising rents, even though I could easily do nothing and raise my tenant's rent hundreds of dollar per month in this market. What I would like is for my work on this property to mean something and for all my competition to lose their shirts in a market that wasn't artificially supply-constrained.
Re: Manhattan rents cross $5k threshold for first time
#430The problem for me, as a long time NYC resident, is that there's no other place in America I want to live even with work from home as a possibility. I like mass transit. I like not owning a car. I like that the city is generally safer than the rest of America. I like that it's the center for tech on the east coast, the arts for the entire country, and finance for most of the world. I like that we generally get along…
I live in Brooklyn and feel the same way. Even if you discount all the empty luxury apartments held by foreigners who never show up, there are still tons of people who want to move here.
Why?, because when you have all these people crammed together - weird stuff happens and that's what makes NYC magical. We're constantly mixing together, in the subways, bars, restaurant, parks ,etc. You get to see firsthand all the humanity of this city. No other city in America has replicated that.