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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

#741

Post by acchow »

grapeskin wrote: post #167
ChuckNorris89 wrote: post #133

Earlier quoted context omitted.

How did that work for Berlin? Try moving there today and tell me how affordable it is for newcomers. Rent control is basically subsidizing existing grandfathered tenants by fleecing those new wishing to move in, without fixing the underlying housing shortage in any way. The solution is always, always, having (building) more supply than the demand, yet nobody seems to get it.

Damn, are rents in Berlin over 5000 euros/5000 dollars? Must be nuts.

Median Household income in Manhattan is $117k. In Berlin, it is $59k.

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

#742

Post by derekdahmer »

helloworld11 wrote: post #737
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…

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.

That precinct has Times Square as well as multiple train and bus stations (Port Authority, Penn Station and Grand Central). So tons of people passing through daily, many of whom are easy crime targets like tourists.

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

#743

Post by nanidin »

simonsarris wrote: post #499
AlotOfReading wrote: post #498

Earlier quoted context omitted.

I can't find similar numbers to yours for any definition of 'violent crime' I found numbers for, but assuming they're true, it's still missing the point. Amherst is a wealthy community in a wealthy, low crime state. It'd be like pointing to a border town to make the opposite argument.

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.

Yes, but using the same data, NYC is only 0.18% less safe than the national median. We are venturing deeply into "there are lies, damn lies, and statistics" territory.

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

#744

Post by hardwaregeek »

helloworld11 wrote: post #737
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…

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.

It’s midtown so it’s a tourist hub. Tourists are more likely to be targeted for almost all crimes. Plus they report it more.

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

#745

Post by fritztastic »

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 went to NYC many many times when I lived in New England, my cousin went to school there and took the train down multiple times a week for years, her mother worked and lived there for decades, my father went there every week for work for many years. Anecdotally our experiences have been that the city is generally safe, none of us have any crime stories to tell.

My parents also used to go there a lot in the 90s and the city has come a long long way since then- for the better.

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

#746

Post by egypturnash »

DeathArrow wrote: post #307
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…

>Many attempts at public housing failed because they just tried to provide housing for low-income people in separated and/or undesirable areas, with a predictable outcome. So the taxpayers should pay so the people with low income or no income can live iny Manhattan? Why not also provide them with expensive cars and exotic vacations?

Welcome to Galt’s Gulch, where only millionaires can afford to live! Every minimum-wage is being filled by someone who’s constantly exhausted from their four-hour commute from Poortown.

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

#747

Post by lotsofpulp »

usrn wrote: post #716
lotsofpulp wrote: post #540

Earlier quoted context omitted.

The problem with almost all public transit is that it converges on a center and branches out into legs that do not connect with each other. This is the DC map: https://www.wmata.com/schedules/maps/upload/2019-System-Map.... If two friends move to the outer edges of different legs of the system, then your travel time and inconvenience multiplies a lot. It is the same reason Manhattan is so popular compared to the oute…

That sounds... expensive.

Yes, it requires everyone to live in small houses or apartments adjacent to each other without large backyards and garages for cars. Hence it working well in Tokyo.

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

#748

Post by selfportrait »

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.

Crime is up after the lull that was the COVID lockdowns. Less crimes occurred when everyone was at home and the economy was essentially halted. Great argument.

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

#749

Post by dionidium »

sbf501 wrote: post #731
dionidium wrote: post #357

Earlier quoted context omitted.

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 fa…

Here's the quote from the NY Times article [0] your Atlantic article references:

> Nearly half of new condo units in Manhattan that came to market after 2015, or 3,695 of 7,727 apartments, remain unsold, according to a December analysis of both closed sales and contracts by Nancy Packes Data Services, a real estate consultancy and database provider.

So we're talking about 3,695 unsold apartments. There are 3.5 million housing units in New York City. So that's about a tenth of one percent .

The problem here isn't that the statistic is wrong; it's that anybody thinks 7k new units over a 5 year period in a metro area of 20 million people is anything more than a curiosity.

The hallmark of a conspiracy theory is that it offers a sensational explanation -- usually some foreign, outside force -- for a complex problem, absolves the believer of any culpability, and provides an easy, unsympathetic target on which to dump all their rage. "Foreign oligarchs are buying up all the real estate and locking the rest of us out and that's what's wrong with the housing market" is exactly that kind of theory. And 3500 unsold units over 5 years is emphatically not evidence of its veracity.

[0] https://www.nytimes.com/2020/01/10/realestate/new-york-decad...

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

#750

Post by showerst »

rory wrote: post #560
showerst wrote: post #443

Earlier quoted context omitted.

NYC is relatively safer than other large cities. particularly Manhattan. https://realestate.usnews.com/places/new-york/new-york-city/... Overall NYC is much safer than the national average, especially compared to small towns which people often assume are the safest. https://www.washingtonpost.com/business/new-york-city-is-a-l...

For people wondering the drivers here: car crashes, drug overdoses, suicides. So the claim isn't really referring about the things people usually consider when it comes to "safety" (interpersonal attacks), although it's talking about things that we perhaps *should* think about more when it comes to safety. If I'm being honest with myself, muggings in DC still scare me more than car crashes in Montana, despite the rea…

I’m on my phone right now so hard to check, but I don’t think DC actually is safer than most places.

Crime here is comparatively high, and many people still drive.

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