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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

#731

Post by sbf501 »

dionidium wrote: post #357
sbf501 wrote: post #354

Earlier quoted context omitted.

Too bad there are "investment luxury hi-rises" popping up all over the skyline that are largely unpopulated. If that's what people want to build to park their billions, we have other problems to tend to first.

This is a conspiracy-theory-level analysis that isn't supported by any available evidence.

Can you supply some evidence that it is a conspiracy theory? Because I read this article in The Atlantic:

https://www.theatlantic.com/ideas/archive/2020/01/american-h...

"But the bust is upon us. Today, nearly half of the Manhattan luxury-condo units that have come onto the market in the past five years are still unsold, according to The New York Times."

Sorry, but I trust the Atlantic over you unless you got some facts.

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

#732

Post by hellomyguys »

bufferoverflow wrote: post #678
lancesells wrote: post #668

Earlier quoted context omitted.

> 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_...

Even according to this, murder and manslaughter is significantly up in the last 2 years. But you're also ignoring the fact that in other parts of the country these crime rates are 1-10% of these numbers. NYC could be much safer, if the right policies were applied.

Violent crime is up in many places. In fact it has increased more in Rural America more than it has in NYC.

https://www.washingtonpost.com/opinions/2022/06/10/blame-rur...

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

#733

Post by sbf501 »

dionidium wrote: post #396
kyawzazaw wrote: post #363

Earlier quoted context omitted.

https://nypost.com/2021/08/05/nearly-half-of-luxury-units-em...

Seven buildings. That's not representative of...anything. It's not even worth talking about. And the effects are largely positive for the city, anyway. You've got a few big, empty buildings concentrated on one street where billionaires park their money, pay a bunch of property taxes, and use zero city services. That's an unqualified win .

It represents several billions of dollars worth of luxury real estate left vacant, and obscuring central park.

If you want to call that "nothing" then there is no reaching you.

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

#734

Post by acchow »

nickv wrote: post #526
tmnvix wrote: post #507

Earlier quoted context omitted.

This is not how it's working out right now in NZ. Interest rates up. House prices down (-20% in my city). Number of available rentals up (almost doubled in some markets). Rental prices down (looks like around -10%). It looks like underutilised housing is being flushed out due to high servicing costs. The jig is up.

Interesting, where are those rentals coming from? Is it just an overall drop in demand for any housing? Intuitively to me, if you make one thing harder to do (buy a house), unless people disappear or you suddenly build more rentals, they go in the other direction and create more strain there (renting). Where are these people living if they can't buy but are renting less? Are both demands are dropping?

In major cities, renters often have roommates. When they exit the rental market to become homeowners, they often pick up more debt and higher monthly payments but stop having roommates.

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

#735

Post by tomnipotent »

bufferoverflow wrote: post #663
exogeny wrote: post #649

Earlier quoted context omitted.

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.

But you're sharing propaganda instead of crime stats. So all you've done is repeat a Republican party "talking point", which in the context of crime over time is nonsense.

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

#736

Post by vjk800 »

googlryas wrote: post #576
vjk800 wrote: post #476

Earlier quoted context omitted.

Indeed. I come from a rural village where I could leave my bicycle unlocked over night at the center of the village and it wouldn't get stolen. When I moved to a city, one realization I made was that cycling is just a lot less convenient if you have to worry about your bicycle getting stolen. Also I can't leave my home door unlocked when I go somewhere (and thus have to remember to take the keys with me). I think sma…

There are big city fixes for this. For example, most big cities offer bikeshares with docking stations all over the most popular places. So you can just use one of those bikes and not have to worry about theft.

This is not a fix. It's exactly the sort of extra thing I don't want to deal with when I'm cycling.

It really feels more careless to just ditch your bicycle on the side of the road and forget about it than lock it. I admit it's not a big thing, but as I tried to convey, small things like this add up.

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

#737

Post by helloworld11 »

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…

Whats up with Manhattans South Precinct (the roughly square section south of Central Park? For just about all of the categories of crime on this map, it consistently ranks as the worst area in the whole city across all five boroughs. Seems weird for this to be happening in a core section of Manhattan itself.

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

#738

Post by 11101010001100 »

wnolens wrote: post #691
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…

They're all great and have something that the other two don't/can't have. I could go on for hours about each. Also this is a very personal/subjective question, so take with a grain of salt: Toronto: It's Canada. Culture is different than the US. My friends and family are here. Since it's where I formed my personality, I like the people here way more. It's the only place I experience uncontrollable laughter in reactio…

I couldn't figure out the kids in the US equation, so I left. Of course people can, but I couldn't.

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

#739

Post by fritztastic »

kristjansson wrote: post #533
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…

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…

NYC gets dozens of millions of visitors annually, in addition to people commuting in daily and people transiting through the city. So, while the number of crimes is high, the number of people actually in the city at any given time is multiple times the number of people who reside there. Probably the total number of people in the city anually is 10x the people who live there.

I'd also factor in the numbers are higher also because policing is very robust. I can't think of any other city where I saw a cop nearly as often as NYC, they're everywhere.

Anecdotally, I never felt unsafe there. Although where I grew up crime was rampant, common, and expected- so comparatively NYC seemed really safe, and it wasn't hard to avoid high risk places/situations. I do think people hype up the crime numbers, and forget to consider the variables present in a megalopolis which aren't present in smaller cities.

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

#740

Post by derekdahmer »

simonsarris wrote: post #679
derekdahmer wrote: post #581

Earlier quoted context omitted.

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 That's not true, and my stats above are solely Manhattan.

You are right, I meant downtown Manhattan. There are plenty of neighborhoods above 96th street with disproportionate amounts of crime.
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