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Manhattan rents cross $5k threshold for first time

axios.com

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

#541

Post by thehappypm »

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 see Boston as the tech hub of the East more than NYC. New York obviously has a large number of tech jobs, but Boston and DC both have a higher concentration of tech; in NYC the big fish is obviously finance.

I discount DC a little because a lot of that is government and defense related (not a bad thing, just not my cup of tea).

Boston has a lot of diversity in tech, lots of health/pharma like Moderna, web companies like TripAdvisor and Wayfair, robotics like Boston Dynamics, tons of startups doing ai/ml, and it seems like every big company has a substantial presence here (Google, Meta, Amazon, Microsoft, Salesforce…)

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

#542

Post by noobermin »

paulgb wrote: post #423
inglor_cz wrote: post #405

Earlier quoted context omitted.

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.

There is definitely demand, but America won't build that demand because the "silent majority" (homeowners who still are fearful of minorities and poor people) won't let that happen.

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

#543

Post by jeffbee »

_dain_ wrote: post #517
jeffbee wrote: post #440

Earlier quoted context omitted.

It is not just the racism but also practical facts. There are American cities without a black barber. A given city may lack the food culture or language of some ethnic group. The incredible whiteness of some cities is self-perpetuating.

Do you think that "whiteness" is a bad thing? What is wrong with white people? Do you not like us for some reason?

There isn't anywhere near enough space in this box to answer the question "What is wrong with white people" and that isn't my purpose here. I'm trying to tell you why there are non-obvious reasons why people don't just immediately move to Lincoln, Nebraska, when the rents change in Manhattan. It's because there aren't any Persian restaurants, or whatever people view as an amenity.

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

#544

Post by lotsofpulp »

lupire wrote: post #422
lotsofpulp wrote: post #253

Earlier quoted context omitted.

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.

Transit in Brooklyn and Queens is much worse than Manhattan.

See my other comment:

https://news.ycombinator.com/item?id=32098815

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

#545

Post by spoonjim »

I can see why this is happening. For a certain kind of person, New York City is the most desirable place in the world to live. With work from home becoming possible, all the people across the country with the desire and money to do so will want to move to NYC, where they might have been in Omaha or Cleveland or Dallas for work.

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

#546

Post by legohead »

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…

Have you been affected by the rent increase yet? Curious how much power the landlords have there. Can they raise your rent without warning, are they trying to force you out, etc.

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

#547

Post by dont__panic »

paxys wrote: post #455
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…

Agree with everything except the last part. Brooklyn is a fantastic place to live, and takes 20 mins or so door to door to get to most parts of Manhattan.

20 minutes to most parts of manhattan?!?!

I'm sorry, but... you might be able to get to FiDi from downtown BK in 20 minutes, door to door. If you live anywhere else in BK, from Greenpoint to Sheepshead Bay, you're looking at 30 minutes minimum to get into manhattan -- probably closer to an hour door-to-door.

Not trying to be rude here, but your statement does not seem to match my lived experience. Maybe you can get 20 minutes door-to-door on a citibike?

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

#548

Post by irrational »

esoterica wrote: post #519
irrational wrote: post #492

Earlier quoted context omitted.

I had similar thoughts. I live on the west coast and feel so safe that I don't even lock the front door to my house, ever. I wonder if OP feels safe enough to always have their front door unlocked.

Quoted post unavailable.

The thing is, I don't live in a rural area. I live in a suburb of a major city.

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

#549

Post by bogomipz »

orange_joe wrote: post #475
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…

NYC is generally safer than the rest of America. NH is typically the safest region in the entire country. But the truth is that there are high numbers of relatively rural areas that are substantially more dangerous than NYC. Also, I think that crimes/mile is fairly un-instructive because of how much the legal boundaries of a city shift/as well as the amount that a person will travel in a given location (I live in NYC…

>"NYC is generally safer than the rest of America."

What does that even mean - "generally" safer? Saying "generally" and "the rest of America" are nebulous to the point of being completely meaningless. If I were to compare hunting accidents, wild fires and car accidents in NYC compared to the "rest of the America" then yeah sure. Have a look at these NYPD crime stats from May and tell me that it's safer than the entire "rest of America."

https://www1.nyc.gov/site/nypd/news/p00050/nypd-citywide-cri...

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

#550

Post by throwk8s »

standardUser wrote: post #435
throwk8s wrote: post #420

Earlier quoted context omitted.

People that want to be conspicuous have to display their success where it's going to be seen. Living in a place that is "central" in so many ways is a competition to see who can hang in there. The only way to stay is to keep winning bigger.

What? Most people I know in Manhattan are just people with jobs who enjoy living in the city. There is no "displaying their success" or "keep winning bigger" mentality to be found in my sprawling NYC-based friend group. Sounds like something from TV or the movies.

> There is no "displaying their success" or "keep winning bigger" mentality to be found

They may not realize the game they're in. But as long as the cost of living keeps hitting new peaks, inevitably people need to bring in more money, or move farther out or elsewhere. Supply is limited, and it is a competition.

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