Manhattan rents cross $5k threshold for first time • Hacker News Board

Re: Manhattan rents cross $5k threshold for first time

#501

Post by mortehu » Thu, Jul 14, 2022, 5:00 PM UTC

kortilla wrote: post #496

wnolens wrote: post #468

Earlier quoted context omitted.

I feel you here. I'm a relatively new NYC resident and worried that I'll be "ruined" forever. I've otherwise lived in Toronto and Seattle. It really comes down to fear of change I think. Humans are very adaptable, and the same one can thrive in car-centric suburbs as they would in shoulder-to-shoulder metropolises. Given no constraints, you prefer city. But throw in kids (requirement for more space/better schools), o…

> Given no constraints, you prefer city. That’s definitely not a given. I know a bunch of people that given no constraints they would live at the edge of a lake with the nearest city being 100+ miles away. But they get forced into a city by the need for a job, or the same constraints you laid out.

"you" refers to GP, so it's literally given.

Re: Manhattan rents cross $5k threshold for first time

#502

Post by neilparikh » Thu, Jul 14, 2022, 5:00 PM UTC

wnolens wrote: post #468

ctvo wrote: post #390

The 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 feel you here. I'm a relatively new NYC resident and worried that I'll be "ruined" forever. I've otherwise lived in Toronto and Seattle. It really comes down to fear of change I think. Humans are very adaptable, and the same one can thrive in car-centric suburbs as they would in shoulder-to-shoulder metropolises. Given no constraints, you prefer city. But throw in kids (requirement for more space/better schools), o…

> I feel you here. I'm a relatively new NYC resident and worried that I'll be "ruined" forever. I've otherwise lived in Toronto and Seattle.

Just out of curiosity, what do you think NYC has that Toronto or Seattle don't have? And what are you thoughts on Toronto vs. Seattle? Personally, I've lived in Toronto (which I loved), and visited Seattle for a few days (which I liked, but hard to say from a short visit), so curious to hear what others who have lived in all 3 think (especially since I'm planning to move to Seattle soon).

Re: Manhattan rents cross $5k threshold for first time

#503

Post by esoterica » Thu, Jul 14, 2022, 5:00 PM UTC

simonsarris wrote: post #436

ctvo wrote: post #390

The 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 like that the city is generally safer than the rest of America. Coming from New Hampshire: this is just fantastically untrue. NYC is about one hundred times more violent than where I live. It is so thoroughly not the same that I can usually tell when people come from cities simply based on how nervous they are. I think most people don't realize how badly it affects them, or how violent cities are versus "the rest…

The sheer audacity of comparing crime in cities to rural areas on a per square mile basis.

Parent commenter is completely correct that NYC is safer not just than the average location in America, but also the average rural area.

https://www.bloomberg.com/opinion/articles/2022-06-07/is-new...

Maybe your very specific neck of the woods is very rich and safe but I don’t know why you felt the need to butt in and make the conversation about you, OP never claimed that NYC was the absolute number 1 safest place in the country.

Re: Manhattan rents cross $5k threshold for first time

#504

Post by [deleted] » Thu, Jul 14, 2022, 5:00 PM UTC

eej71 wrote: post #337

kriops wrote: post #297

Earlier quoted context omitted.

> (...) there should be heavy state intervention (...) This has been tried so many times throughout different cultures and time periods, and by different means. It will not benefit whoever is actually living on the properties, but will detract from their situation. Economics in One Lesson by Henry Hazlitt has several concrete examples of attempted interventions, and is written to give a basic intuition on why this ha…

It continues to be disappointing to see so many people turn to state power as a solution to the problem of scarcity. Scarcity is solved through production not political power.

[deleted]

Re: Manhattan rents cross $5k threshold for first time

#505

Post by [deleted] » Thu, Jul 14, 2022, 5:01 PM UTC

FredPret wrote: post #464

simonsarris wrote: post #436

Earlier quoted context omitted.

> I like that the city is generally safer than the rest of America. Coming from New Hampshire: this is just fantastically untrue. NYC is about one hundred times more violent than where I live. It is so thoroughly not the same that I can usually tell when people come from cities simply based on how nervous they are. I think most people don't realize how badly it affects them, or how violent cities are versus "the rest…

Why would crime stats be expressed by square mile? To purposefully make NYC look bad?

[deleted]

Re: Manhattan rents cross $5k threshold for first time

#506

Post by refurb » Thu, Jul 14, 2022, 5:01 PM UTC

enriquto wrote: post #247

fartsucker69 wrote: post #215

Earlier quoted context omitted.

Property owners providing almost no value is just factually wrong. Their function is similar to insurance. You pay rent to live somewhere because you don't want to take the risk or can't get the loans to buy a property yourself. And it costs real money and time (i.e. real resources) to build those homes and maintain them. In return property owners (or insurance runners) can get rich off your monthly payments as well…

> it costs real money and time to build those homes and maintain them. As a renter of a dangerously unmaintained property, whose owner has never worked because he inherited a bunch of apartments, I can only laugh hysterically at your ridiculously-over-the-top sarcasm.

I’m pretty sure neglected maintenance doesn’t prove the OP statement untrue.

Re: Manhattan rents cross $5k threshold for first time

#507

Post by tmnvix » Thu, Jul 14, 2022, 5:01 PM UTC

nickv wrote: post #437

DeathArrow wrote: post #248

Higher interest rates should lower the prices of homes in the long run, which should translate into lower rents.

Actually, that's not true in a strange perverse way. Higher interest rates = higher mortgage rates = higher monthly costs to own = More people being stuck in the rental market = more demand in an already over-heated rental market. Remember housing prices going down doesn't turn to a lower monthly cost (it keeps at pace typically). This is pure wealth loss (which is the point so we can cut inflation). This is already…

This is not how it's working out right now in NZ.

Interest rates up. House prices down (-20% in my city). Number of available rentals up (almost doubled in some markets). Rental prices down (looks like around -10%).

It looks like underutilised housing is being flushed out due to high servicing costs. The jig is up.

Re: Manhattan rents cross $5k threshold for first time

#508

Post by noobermin » Thu, Jul 14, 2022, 5:02 PM UTC

greggsy wrote: post #427

weeksie wrote: post #400

Earlier quoted context omitted.

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.

If you're comparing NYC food to Singapore I don't know how you could say sg food is great.

The staples (Chinese, Indian, Malay) are good and probably better, but western food is not great. A few are mediocre and some are great, but the great places lack variety and selection, that is you usually get only one good thing from a given stall or restaurant.

My girlfriend, the first time she went to the US was blown away by the food. She even swooned over freaking gas station pizza I picked up once. Now that I live in sg I understand what she meant by the food in the US having flavor, the staples are great but the western food is pretty mediocre and just is either off or just lacks the proper seasoning, or if it's good, it's easily twice the price (after conversion!) of similar quality food I ate in Ohio.

I seriously miss creole / cajun food for example, but the SG experience of the west is freaking British food which is the bottom of the barrel (fish and chips anyone?) seriously.

Another thing (sorry for the rant but it's fresh in my mind). Good luck getting any amount of vegetables in your meal.

Re: Manhattan rents cross $5k threshold for first time

#509

Post by esoterica » Thu, Jul 14, 2022, 5:02 PM UTC

simonsarris wrote: post #499

AlotOfReading wrote: post #498

Earlier quoted context omitted.

I can't find similar numbers to yours for any definition of 'violent crime' I found numbers for, but assuming they're true, it's still missing the point. Amherst is a wealthy community in a wealthy, low crime state. It'd be like pointing to a border town to make the opposite argument.

As I mentioned down-thread, NYC has 45% more violent crime than the national median. It's simply not a "low crime" place, despite the PR.

NYC has a lower homicide rate than America, and that is the only category of crime that is mostly consistently reported across jurisdictions. Every other category of crime basically varies by an order of magnitude from place to place depending on accuracy of reporting.

Re: Manhattan rents cross $5k threshold for first time

#510

Post by neogodless » Thu, Jul 14, 2022, 5:03 PM UTC

FredPret wrote: post #464

simonsarris wrote: post #436

Earlier quoted context omitted.

> I like that the city is generally safer than the rest of America. Coming from New Hampshire: this is just fantastically untrue. NYC is about one hundred times more violent than where I live. It is so thoroughly not the same that I can usually tell when people come from cities simply based on how nervous they are. I think most people don't realize how badly it affects them, or how violent cities are versus "the rest…

Why would crime stats be expressed by square mile? To purposefully make NYC look bad?

The other graph is Per Capita.

And while this reminds me of XKCD: Heatmap[0], the density of crime also matters when it's where you live, and the actual proximity you are to frequent violent crimes.

[0] https://xkcd.com/1138/