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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

#681

Post by speakfreely »

_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?

Whenever someone wants to talk about what's wrong with group of people with skin color (X), you already you're talking to someone with the wrong priorities.

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

#682

Post by acchow »

ezequiel-garzon wrote: post #19

I thought the median had to be significantly lower with those ultra luxurious rentals distorting the average, but I was wrong. The median is $4000 as of a few months ago: https://www.elliman.com/corporate-resources/market-reports

4000 in rent is not significantly lower than 5000?

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

#683

Post by hardwaregeek »

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 have a fantasy where a Robert Moses-type figure builds out super fast trains that connect Long Island, NJ, upstate New York, and effectively urbanize the entire tri-state area. New York becomes this super city where you can go from White Plains to the tip of Long Island in an hour. Housing becomes cheaper as neighborhoods that were previously impractical become feasible for New Yorkers. Car ownership drops in the outer suburbs as people embrace public transportation. Gentrification stays an issue but because of more housing, it's less brutal.

Unfortunately this is pretty unlikely unless there happens to be another political genius like Moses who also happens to love public transportation. Maybe an Andy Byford-Robert Moses combo?

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

#684

Post by ghaff »

mushufasa wrote: post #450
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…

Having grown up in DC and New York, I would say more strongly that there's no other city in the USA that has comparable mass transit. The way I would put it is -- in New York, it is more of a hassle to have a car than to go without. In all those other cities, while there is some mass transit, you will find yourself wanting a car.

What's pretty much unique about NYC, especially Manhattan, in the US is that there's no cultural expectation that a well-paid professional will own a car. By comparison, people can get by without owning a car in Boston/Cambridge--I did as an undergrad--but get out of school and a lot of your friends probably live in the suburbs/exurbs, you need a car to head off to the mountains, etc. Sure, you can rent and Uber up to a point but most people find it 1.) gets old and 2.) As a practical matter means they mostly just stay in the city because doing otherwise is too much of a hassle.

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

#685

Post by zjaffee »

g9yuayon wrote: post #643
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…

Sounds we should really build walkable city with convenient mass transit in the US and Europe. It's a shame that building anything infrastructure in the US is prohibitively expensive.

Building single family homes is much cheaper in the US because of prefabrication. It's something like 3x less per square foot than a 5/1.

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

#686

Post by brandonwags »

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…

Safety in crowds, this is a big generalization. As someone who just moved in from Chicago, I feel exponentially safer in NYC.

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

#687

Post by acchow »

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…

Many cities are experiencing asset price bubbles far beyond the rental price increases (driven by central banks). But NYC rental prices are actually rising rapidly. It’s quite a different situation

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

#688

Post by rprospero »

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 grew up in Indianapolis, where the violent crime rate is 8.7 per 1000. Growing up, we had plenty of trips to Columbus, OH (16.6), Detroit, MI (21.8), Cincinnati, OH (8.9), and, yes, Chicago, IL (9.9).

Granted, sometimes we'd visit smaller, safer college towns, like Purdue's Lafayette Indiana University's Bloomington, or Ball State's Muncie, IN. Only Muncie had a lower crime rate than NYC. Then again, Notre Dame's South Bend (17.3) University of Evansville (10.1), and Rose-Hulman's Terre Haute (14.6) kind of dispelled the idea of college town safefy.

My current town is at 36 violent crime per 1000 residents, but the statistics are collected differently, so it may not be an exact comparison.

NYC isn't safer than the majority of the country. But, compared to where I've been, it's felt pretty safe every time I stopped by.

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

#689

Post by jessaustin »

The cause is not mysterious. Residential rental property is the newest private equity scam. [0] When the capitalist who has inserted himself into your life wants more money, your life becomes more expensive. This is called "inflation". Fools and charlatans claim the Fed can control this.

[0] https://www.propublica.org/article/when-private-equity-becom...

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

#690

Post by stomczyk09 »

It's so upsetting to hear my friend's stories on apartment hunting recently. I had someone raise their expectations by 1k in their budget where they would barely break even financially, and still couldn't find a 2 bedroom apartment in the Williamsburg area. I got very lucky getting a "Covid Deal" in the summer of 2020, because anyone who moved here/moved around since the fall of last year I've heard nothing but chaos :(
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