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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

#651

Post by hailwren »

huevosabio wrote: post #204
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…

Housing =/= Land. But our policies which heavily kneecap our ability to build more [0] make it such that Housing starts behaving like Land. The solution is to build more, and the success of Vienna does not come from public intervention but from the added supply. Tokyo is another city with famously cheap housing, and the secret is that they make it easy to build. I personally think that achieving affordable housing pr…

I think, fundamentally, the problem is that there is a highly speculative market (real-estate) attached to a basic needs market (housing).

I think of myself as right-of-center, but think George was more or less spot on w.r.t. land.

I wonder if there is a solution in banning rent itself? i.e. force owners to transfer a % of ownership equal to rental fees received from tenants and allow them to discount improvements against that.

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

#652

Post by kristjansson »

golergka wrote: post #130
elzbardico wrote: post #40

There is an elephant in the room that people refuse to look at when it comes to rents: Airbnb.

Should people who come to the city for a couple of weeks not be able to find any accommodation? Why do you think that they should have less rights that people that live in the city full-time? They already have obvious market forces working against them (short-term rents are always more expensive than long-term).

> any accommodation

That's an exaggeration. The alternative to airbnb is not no accommodation, it's better-regulated and therefore more expensive accommodation. Regulations force tourists to bear the costs of their trip (hotel taxes, etc.) and give the city some pricing power to control quantity of tourism.

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

#653

Post by ryukafalz »

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…

As someone who currently lives in Philly… yeah, I feel this. I love being able to get around on foot and by transit, but Philly is still a pretty car-centric place compared to what I’ve seen of NYC, and I wish it weren’t.

That plus making it easier/safer to get around by bike/scooter/etc. That’s something even NYC doesn’t seem to do well; have to look at international peers to see good examples of that.

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

#654

Post by TuringNYC »

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…

How much of the rising rents are risk premia for future cases of "government says you dont have to pay rent and cant be evicted" that we experienced in 2020-present? I'm curious if there has been a Natural Experiment comparing rent increases in places which did vs didn't have eviction moratoriums during COVID.

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

#656

Post by sokoloff »

irrational wrote: post #492
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…

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.

I wonder how much people think the typical flimsy locks on a residential door will actual stop someone who goes up to the door with the intention of entering. It would almost require someone to want to enter but iff the door was unlocked, which seems like a poor strategy for a burglar.

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

#657

Post by acchow »

Aunche wrote: post #582
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…

Part of the problem is that most people would rather move to an existing desirable city than try to improve their own to make it more desirable, myself included. In most major cities, less than 20% of people vote for mayor, let alone city council. Most of those who do vote in local elections are much old. http://whovotesformayor.org/

The goal posts keep moving tho. Even if your city becomes closer to NYC circa 2010, NYC is moving towards becoming a totally different beast of NYC circa 2030. There will always be a massive gap

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

#658

Post by hardwaregeek »

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 mean…or it’s that some of us have lived in New York for decades and not experienced even a little bit of violent crime. Born and raised New Yorker here.

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

#659

Post by lr1970 »

derekdahmer wrote: post #581
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…

The NYC crime rate varies wildly by neighborhood so I don't think its very useful to compare city-wide crime stats. For example, the felony assault rate is literally 10x higher in parts of the Bronx than on the UES. If you live and work in safer neighborhoods the city will appear to be very safe to you. In NYC the most dangerous areas are pretty far out from (edit: downtown) Manhattan and you'd really have to go out…

> In NYC the most dangerous areas are pretty far out from Manhattan

East Harlem (part of Manhattan) is as dangerous as the Bronx and is very different from the Chelsea where you live. Manhattan is not a uniformly safe place. Also, NYC subway is filthy, disgusting and sometimes plain dangerous. Car traffic is worse than before COVID. There seem to be more cars on the streets, for people are avoiding subway and are using cars more often than before.

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

#660

Post by spaceman_2020 »

derekdahmer wrote: post #581
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…

The NYC crime rate varies wildly by neighborhood so I don't think its very useful to compare city-wide crime stats. For example, the felony assault rate is literally 10x higher in parts of the Bronx than on the UES. If you live and work in safer neighborhoods the city will appear to be very safe to you. In NYC the most dangerous areas are pretty far out from (edit: downtown) Manhattan and you'd really have to go out…

So essentially, the assertion should be “NYC has some of the safest neighborhoods in fhe country”

Which is not really the same thing at all…

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