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Manhattan rents cross $5k threshold for first time

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

#561

Post by bobthepanda »

function_seven wrote: post #516
simonsarris wrote: post #489

Earlier quoted context omitted.

> NYC is generally safer than the rest of America. I don't think that's true: NYC is at 5.8 violent crimes per 1,000, and the national median sits at 4.0. That's 45% more violent than the median. That's not small! I feel like some PR firm must have implanted this idea in everyone's minds that NYC is somehow magically safer, but it's not showing up in the stats, and if the stats are skewed by reporting its almost cert…

I have a sneaking suspicion that New Yorkers who think NYC is safe are comparing it to 1980s NY, rather than contemporary $other_region. Or maybe they're only comparing themselves to Chicago and Rio de Janeiro?

I’ve heard this stat before, but comparing to large cities.

NY is generally safer than Chicago, LA, Seattle, Boston, and Fort Worth; Wikipedia places it in 59th place for most violent crime per capita amongst the nation’s largest 100 cities.

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

#562

Post by noobermin »

te_chris wrote: post #473
greggsy wrote: post #427

Earlier quoted context omitted.

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.

Singapore?? To New York????? Sorry what? Singapore is fine as far as a hot place with incredible food and good hotels to spend a few nights, but it’s also quite possibly the most boring major city I’ve been to outside of that and there doesn’t seem to be any cultural life beyond shopping - based on my own experience and that of friends who’ve lived there. I could also take issue with comparing Sydney to NY, but I’ll…

In defense of sg, the only reason you said this is you never left orchard rd. You can experience worlds of culture just eating food at any given neighborhood coffee shop or going to a wet market in the morning. It just is a different culture, one that doesn't try to emulate America too much (hipster shit like live music or public art or things like that).

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

#563

Post by dayvid »

thehappypm wrote: post #541
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…

Boston's interesting in that it feels more low-key than NYC or Silicon Valley. Most of the biotech companies feel a lot more secretive and I don't see as many public events.

The valley has a vibe in that everyone you meet is involved in tech work in some way and will talk about it to you or in public. It doesn't feel that way here, or you have to be a part of certain circles maybe. There are some small biotech meetup groups, but maybe they all do communication at the universities?

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

#564

Post by simonsarris »

staticassertion wrote: post #523
simonsarris wrote: post #499

Earlier quoted context omitted.

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.

What about Manhattan? What about lower Manhattan? The reality is that NYC is large and there's bodies of water separating huge parts of the city. Talking about crime in NYC seems really silly because you're going to be talking about tons of neighborhoods that you're just never, ever going to end up even close to.

We are already talking about Manhattan (New York, NY), it is where these numbers are from, and what the OP article is about.

Obviously in The Bronx the numbers are much worse (9.28), and in Brooklyn they're a tiny bit better (5.43) but still well over USA median. Queens (3.25) is safer than median, though.

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

#566

Post by newaccount2021 »

spaniard89277 wrote: post #36

Housing and land is a non-transable good, and therefore there should be heavy state intervention on it, preferably by doing the same as Vienna, which is holding >40% of the renting stock and charging according to income, and renting to a representative distribution of tenants so to prevent guettos. Rent is the main detractor of disposable income which hurts the rest of the economy, and property owners provide almost…

No post body was provided.

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

#567

Post by bradlys »

throwaway23234 wrote: post #486
rayiner wrote: post #362

I wonder how much of contemporary Democratic politics is driven by insane rents in NYC and SF. The party has seen an influx of core Reagan voters—everyone from Wall Street bankers to Silicon Valley engineers (Reagan won Santa Clara County by 17 points in 1984). These affluent, highly educated folks have adopted the narratives and politics of the working class, juxtaposed against a ever-more-narrowly-defined “elite.”…

It's a really really weird space that didn't really exist in 1984. I would say that today's "engineers" below the 80% salary threshold for this space are today's "construction workers" and heavily democratic voters (There are also of course "construction workers" too, of course). Maybe about 5 years ago I would have said that people making 200k are wealthy. Today I would say that they are a lot of people that have be…

$200k isn’t enough to buy anything in SF though. Also - I know a lot of people making $200k/yr and they spend relatively little.

Honestly - you sound really out of touch and like you know no one who makes $200k/yr in SF. Where would you put your boat if you even could afford one? Where would you put a camper? Do you think people at 200k in sf are renting houses often? Houses with space for boats and campers?!

Sounds a lot like someone who likes to bitch about avocado toast. I wish people like this didn’t even post on HN - because it’s clear they don’t live in SF and don’t have a clue.

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

#568

Post by tmnvix »

rcpt wrote: post #480
tmnvix wrote: post #467

"The rent is too damn high!" A lot of talk of supply side issues, economics 101, etc in these threads. Greetings from New Zealand, where just like so many other anglosphere economies we've been playing the low interest property speculation game for decades now. We got really, really good at it. The last couple of years saw 50% increases in property prices. Madness. A funny thing's been happening in just the last six…

Prior to the NZ Land Tax Abolition Act it was pretty good there no?

I put it down to the double whammy of banking deregulation and ripping into social housing. From the 90s on property speculation has been the name of the game.

It does seem like this year could bring a paradigm shift. We might have come to the end of the road with lowering interest rates and the social housing system appears to have totally fallen apart and been overwhelmed at the same time.

A decent property market correction will be good for everyone in the long run, but it's going to be difficult for a lot of people. It'll be interesting to see how middle New Zealand handles it when the crisis is at their door and not just 'out there' for more unfortunate people to worry about.

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

#569

Post by diehunde »

jononomo wrote: post #68

I decided about four years ago that it just doesn’t make sense to live in NYC if you’re not making $200k/year consistently. Also, I was surprised at how many people without an original thought in their head earn $200k/year in NYC —- the city rewards a sort of dull ambition. Do you want to hang out with people who are intelligent and ambitious yet somehow fail to be interesting? If so, then NYC is for you!

How much is the take-home pay if you make $200k a year? About 12K a month? A rent of 5k would take away almost half of that. A $4K rent would be at the limit of the 1/3 recommendation but not sure what you can find these days for a $4K rent. It's doable, but I don't think it's sustainable if you want to save money or live comfortably

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

#570

Post by kristjansson »

knowledge-clay wrote: post #299
jononomo wrote: post #68

I decided about four years ago that it just doesn’t make sense to live in NYC if you’re not making $200k/year consistently. Also, I was surprised at how many people without an original thought in their head earn $200k/year in NYC —- the city rewards a sort of dull ambition. Do you want to hang out with people who are intelligent and ambitious yet somehow fail to be interesting? If so, then NYC is for you!

The median individual income in NYC is $34k. In Manhattan, it's $52k. Making 200k puts you in the top 5% of earners in New York City.

Regardless of how true it is, this statistic feels impossible.
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