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

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

#661

Post by tomtheelder » Thu, Jul 14, 2022, 6:07 PM UTC

iancmceachern wrote: post #612

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…

Move to SF. Having lived here and Manhattan I think many of the things you like about NY are present here. Just don't listen to the headlines.

As someone who has also lived in both places (and lives in neither of them currently), I'd have to vehemently disagree. SF is not only comparably expensive, it's also incredibly far behind in transit, far more homogeneous in all sorts of ways, much less culturally interesting and significant, and- despite my agreeing that the headlines are blowing it out of proportion- pretty clearly headed in the wrong direction overall. It has some potential advantages (weather, proximity to nature, stronger tech job market), but I relate to the OP comment a lot, and for me SF just cannot even slightly compare to NY.

Obviously this is all just my opinion! I know tons of people love it there.

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

#662

Post by giraffe_lady » Thu, Jul 14, 2022, 6:08 PM UTC

pb7 wrote: post #463

giraffe_lady wrote: post #346

Earlier quoted context omitted.

> So the taxpayers should pay so the people with low income or no income can live iny Manhattan? Yes. It's a city not a luxury resort. If people are to work all kinds of jobs at all levels of income there, then people at all income levels should be able to live there as well. This mechanism accounts for that. > Why not also provide them with expensive cars and exotic vacations? Maybe they should idk. Seems completely…

Manhattan isn’t a city, it’s the most expensive borough of a city. They don’t need to live there.

I know what manhattan is and I'm against it becoming a luxury development for only the rich, while the people who work to service them are bused in from far suburbs at tremendous personal cost.

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

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Post by bufferoverflow » Thu, Jul 14, 2022, 6:08 PM UTC

exogeny wrote: post #649

bufferoverflow wrote: post #636

Earlier quoted context omitted.

I am not surprised. NYC gave up on violent crime. It's Democrat's policy. Same as in Chicago, SF, Los Angeles, and many other Democrat-run cities. One of the reasons I left NYC. I'm now in one of the safest neighborhoods, we have virtually no violent crime, except from the occasional visiting criminals.

Good. I’m glad you got the fuck out of our city with your alarmist, non-factual nonsense.

It's not alarmist. I look at the crime stats instead of listening to propaganda.

And I am glad my taxes don't support Democrats' pro-crime policies.

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

#664

Post by ineptech » Thu, Jul 14, 2022, 6:09 PM UTC

EricDeb wrote: post #532

ineptech wrote: post #451

Earlier quoted context omitted.

No idea why you're being downvoted. This meme (rich people buying luxury condos, letting them sit vacant, and then profiting somehow) doesn't make any sense, and that article posted as evidence for it undermines it by depicting those units as being un-rentable due to oversupply in the market.

it makes total sense you park your money in an asset that will increase in value over time. you don't need to actively use it.

And in the meantime, they choose not to rent it why? The intuitive answer is: they're hard to rent, because there's way more luxury condos available to be rented than people who want to rent them, and it was a bad investment that the rich person will probably lose money on (if not in absolute dollars, then in comparison to some other property that is desirable to rent). But a lot of people in this thread seem to think it's intentional and rich people have some devious way of making more from a vacant condo than a rented one.

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

#665

Post by dgunay » Thu, Jul 14, 2022, 6:09 PM UTC

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/

I don't blame them. It can take decades for the kind of change that urbanists want to fully play out, and I bet they would rather experience good city life while they can enjoy it.

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

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Post by zjaffee » Thu, Jul 14, 2022, 6:09 PM UTC

illamint wrote: post #553

neilparikh wrote: post #502

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. 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 cu…

Recently moved to Seattle from NYC. I'm enjoying Seattle, but it's a joke of a city compared to NYC. Seattle's public transportation—while improving with light rail—pales in comparison. Seattle is, overall, pedestrian-hostile. There are neighborhoods that are themselves walkable, but sidewalks will disappear when walking between them, or you'll be forced into situations where you're uncomfortably close to high-speed…

I grew up in NYC and currently live in Seattle. The appeal of Seattle over NYC is the outdoors, substantially cheaper housing (you can get a 4br detatched house in seattle that's a 20 minute bus ride to downtown for less than this median apartment price), and better weather but yeah the food doesn't really compare.

This said, I think LA wins over NYC in the food department outside of the very high end michilin type stuff and certain specific kinds of ethnic food like italian.

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

#667

Post by stomczyk09 » Thu, Jul 14, 2022, 6:09 PM UTC

legohead wrote: post #546

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.

Not personally. I know some of my friends have been who moved back well after the "Covid Discounts" were a thing, got a little bit of an inflated deal, and now are facing like at least 3k for 1 bedrooms in places like around Williamsburg & Lower Manhattan(west village, soho, etc.). That's one of the better case scenarios I've heard as well. Truly a shame :(

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

#668

Post by lancesells » Thu, Jul 14, 2022, 6:10 PM UTC

bufferoverflow wrote: post #636

kristjansson wrote: post #533

Earlier quoted context omitted.

100x is shocking, so I explored a bit. Over 2010-2020 Amherst PD reported ~5 violent crimes per year[1], in a town of ~10000, or about 50 per 100000. NYPD reported ~49k per year over the same period[ibid], on about 8.3m residents, or about about 590 per 100000. So about 11x difference in per-capita reported-to-local-PD crime. I'll admit I'm surprised it's still an order of magnitude, I share GP's sensibility that the…

I am not surprised. NYC gave up on violent crime. It's Democrat's policy. Same as in Chicago, SF, Los Angeles, and many other Democrat-run cities. One of the reasons I left NYC. I'm now in one of the safest neighborhoods, we have virtually no violent crime, except from the occasional visiting criminals.

> NYC gave up on violent crime. It's Democrat's policy.

Could you explain that? Crime is trending down in NYC over the last 20 years.

https://www1.nyc.gov/assets/nypd/downloads/pdf/analysis_and_...

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

#669

Post by lovich » Thu, Jul 14, 2022, 6:10 PM UTC

tmh88j wrote: post #619

lovich wrote: post #614

Earlier quoted context omitted.

> Also, people in rural areas driving drunk is mostly due to lack of transportation options. I'm certainly not condoning it, but Uber doesn't travel out into the sticks and there is no bus or train to hop on. I don’t think that refutes their point that they don’t care. Having come from a rural area myself, the decision was to drink at home or a friends I was staying over at rather than drive drunk. They don’t care ab…

They're suggesting caring less is the primary reason for rural people driving drunk. The primary reason is a lack of transportation options. Caring less is a byproduct of that, not the reason they do it in the first place.

I see how you can interpret his comment that way, but I view it differently with the inclusion of cultural attitudes. The fact that some people started doing it because of lack of transportation made it into a cultural value.

Being called a pussy for instance for not wanting to drive while smashed isn’t a result of a lack of transportation.

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

#670

Post by sigmaskipper » Thu, Jul 14, 2022, 6:10 PM UTC

afavour wrote: post #43

As a New Yorker myself I do wonder where this ends up. Me and my relatively well paid friends can afford to live here but we depend on a lot of lower paid folks for the city to function. Grocery store clerks, delivery drivers, coffee baristas, all that sort of thing. Maybe right now they have a half hour subway ride to work and that’s acceptable. But as they get pushed further and further out it’s going to break down…

Hate to break it to you and your relatively high paid friends but that bodega cashier is spending an hour on the subway both ways from their current working class neighborhood. Furthermore, half of that persons salary is going to groceries due to inflation. There has to be a breaking point at where NYC will hit stagflation and hopefully all useless instagram coffee shops will be hit by "market conditions".