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A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

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Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#241

Post by wolverine876 »

BugsJustFindMe wrote: post #207
PH95VuimJjqBqy wrote: post #175

When I see people complaining about never being able to purchase a house my response is always the same. move. $1,100 is considered "well below market rates" for a 1 bedroom apartment in NYC? That's _nuts_ to me. I'm paying $1,600 for a 3 bed, 2 bath 1800 sq ft house with a 2 car garage. Vaulted ceilings, my neighbor is a police officer and I'm on a corner lot across from a park. fire department is literally 3 blocks…

There's a reason why low cost of living areas are low cost of living, and it's not because they're self-sustaining futuristic arcologies. It's because people who can afford otherwise generally don't want to live there. I want to walk, not drive, out my front door, and be within 15 minutes, on foot, from entertainment and dining and friends and shopping and groceries and pharmacies and salons and cafes. And I want tho…

People with different preferences than you are "antisocial"? (Isn't that a bit ironic?)

The GP has a different point of view; there's nothing special about yours or about NYC that makes yours better. The two of you deserve each other.

Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#242

Post by BugsJustFindMe »

ltbarcly3 wrote: post #223
BugsJustFindMe wrote: post #207

Earlier quoted context omitted.

There's a reason why low cost of living areas are low cost of living, and it's not because they're self-sustaining futuristic arcologies. It's because people who can afford otherwise generally don't want to live there. I want to walk, not drive, out my front door, and be within 15 minutes, on foot, from entertainment and dining and friends and shopping and groceries and pharmacies and salons and cafes. And I want tho…

And presumably you can afford to out bid all the other people who want what you want. Its great that you are wealthy and/or able and willing to spend a very high fraction of your income on non essentials like walking to nice restaurants and being near cool people you want to be near. The problem is that people who can't afford that think it is a hate crime if they can't afford to live in Brooklyn with the rest of the…

> The problem is that people who can't afford that think it is a hate crime if they can't afford to live in Brooklyn with the rest of the hipsters.

City planning is hard, but it's absolutely the case that cities just do it very stupidly and poorly and myopically and to preserve the wealth of the wealthy at the expense of the everyone else. There are not any good reasons for Cambridge, MA to have a 35 foot maximum height limit, only shitty ones. It's not a hate crime, but it is both hateful and a crime against society.

Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#243

Post by notyourwork »

PH95VuimJjqBqy wrote: post #175

When I see people complaining about never being able to purchase a house my response is always the same. move. $1,100 is considered "well below market rates" for a 1 bedroom apartment in NYC? That's _nuts_ to me. I'm paying $1,600 for a 3 bed, 2 bath 1800 sq ft house with a 2 car garage. Vaulted ceilings, my neighbor is a police officer and I'm on a corner lot across from a park. fire department is literally 3 blocks…

This is just naively and ignorantly ignoring supply and demand. If everyone moved to your LCOL area costs will rise. If ever leaves the city (HCOL), city living will decrease in cost.

Not sure how your proposed solution works while also defying basic economics.

Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#244

Post by wolverine876 »

deegles wrote: post #212
TylerE wrote: post #190

Earlier quoted context omitted.

Why would people pay hundred a month for complicated broadband internet? All you need is a modem and AOL. That’s basically your argument. Living in a LCOL area is not comparable to living in NYC. There is a reason millions want to live in NYC and almost no one actually wants to live in, say, Iowa.

And it's a reason why "just build denser housing" is not a complete solution. More density makes an area more desirable, so prices will remain flat or in rare cases increase since the demand continues to outstrip supply. I believe the solution involves dramatically looser building regulations and major investment in public transit (essentially, get to Tokyo levels of density). Places like SF or NYC are in that uncann…

Which regulations would you cut? Safety? Basic serivces like kitchen and bathroom? Light?

Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#245

Post by polygamous_bat »

bsdpufferfish wrote: post #86
polygamous_bat wrote: post #50

Earlier quoted context omitted.

Think logically for one more second. Very similar logic applies for health insurance/cost of college/rent, because those are “unavoidable” in some ways if you want to live (with dignity, because homeless people are still alive I guess). The only reason health insurance/college/rent costs near infinite dollars rather than actual infinite dollars is because price hikes work best when they are hiked slowly every year in…

> those are “unavoidable” This myth has been reviewed by economists over and over. You can always economize and it naturally occurs on both the demand and supply side. I'm not saying these outcomes are good, but people WILL do them. Housing demand: live in a smaller place, live with more people, live further away than you want to, live in a van Housing supply: rent out your extra room, try to build a rental (collect…

So our choice is to either legally discourage rent seeking behavior in certain necessary parts of our life (health, housing, education) OR “live in a van… don’t go to a doctor … go to community college” just so the overlords could keep making profits on their investments. I wonder why not more people are signing up for the latter.

Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#246

Post by satvikpendem »

deegles wrote: post #212
TylerE wrote: post #190

Earlier quoted context omitted.

Why would people pay hundred a month for complicated broadband internet? All you need is a modem and AOL. That’s basically your argument. Living in a LCOL area is not comparable to living in NYC. There is a reason millions want to live in NYC and almost no one actually wants to live in, say, Iowa.

And it's a reason why "just build denser housing" is not a complete solution. More density makes an area more desirable, so prices will remain flat or in rare cases increase since the demand continues to outstrip supply. I believe the solution involves dramatically looser building regulations and major investment in public transit (essentially, get to Tokyo levels of density). Places like SF or NYC are in that uncann…

There is the notion of induced demand but it follows a logistic curve rather than a monotonically increasing one. At the limit, you will eventually build enough housing to satiate demand without creating more; there are only a limited amount of people on the planet, after all.

Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#247

Post by wolverine876 »

bosie wrote: post #229
PH95VuimJjqBqy wrote: post #222

Earlier quoted context omitted.

that's true in theory, but not practice. It assumes housing availability is a constant across the US As I mentioned, I know a woman who is buying more house than that and her income is technically below the poverty line. In addition, I work remote in tech and looking up the average salary in NYC, I'm making more and it's not close. Not everyone can do that and I understand that, but my point is that people around her…

House ownership statements are always with a location in mind. I want to walk or take public transport for 15-20 minutes to have most medical docs around, multiple different cuisines, park etc. What i do not care is a 2 car garage. That already implies a lifestyle i really do not want. So where wpuld i move to in the US?

Move to a less expensive neighborhood of a dense city? Looking at the northeast US, where cities are denser - Baltimore? Philadelphia?

Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#248

Post by polygamous_bat »

flavius29663 wrote: post #93
polygamous_bat wrote: post #43

Earlier quoted context omitted.

Market determines rent the same way market determines the cost of health insurance: people need a place to live the same way they need a doctor when they’re sick. If all the landlords are using collusion software to raise rent in tandem [0] what is your alternative, live in the streets until they give in? [0] https://www.propublica.org/article/yieldstar-rent-increase-r...

This is not a good analogy. When you are sick, you need to get treatment, you're time constrained and usually space constrained too (you wouldn't travel 3 states out if you need an urgent procedure). With housing it's more flexible: you can commute longer each day. You can just not move to a city where you know the "salary/cost of living" is not working in your favor. You can also time these decisions: go to NYC when…

> With housing it's more flexible: you can commute longer each day. You can just not move to a city where you know the "salary/cost of living" is not working in your favor. You can also time these decisions: go to NYC when you are in your 20s, live with some roommates to get some savings and then when you get older you can move to a more spacious city. You can be flexible about the space you need too: from 1 bedroom in a shared apartment, to a 3 beds detached house in a quiet suburb in another city, there is a lot of flexibility.

You _really_ think people aren’t already doing that, huh. Rents are too damn high AFTER all these options have been exhausted, and not because (as Fox News will happily tell you) people are lazy and entitled.

Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#249

Post by alephnerd »

homefree wrote: post #174
alephnerd wrote: post #61

Earlier quoted context omitted.

It's almost impossible to use public transit outside of Brickell. Miami-Dade is very sprawly, like Los Angeles. This is unsurprising as Miami is a relatively new city that expanded post-WW2, like LA. The cities I listed above were already fairly high density before the automobile was invented

I explored Brickell and Miami Beach, comparing to LA is unfair imo, that’s like comparing to “Bay Area” instead of SF.

Your right.

It's even worse than LA. The LA metro has better connectivity across the city of LA than Miami Metrorail does in Miami.

> I explored Brickell and Miami Beach

Did you walk or take public transit to Little Havana or Little Haiti?

Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#250

Post by notyourwork »

IAmGraydon wrote: post #68

A broker’s fee for an apartment? I’ve never seen that. I own a house now, but when I used to rent, the process was to visit the websites of local well known management companies, pick a few apartments you like, and have the manager show each to you. Then you pick one and apply. Why are people injecting the expense of a broker into such a simple transaction? And the renters are the ones paying?

That was my experience for multiple apartments in both Seattle and San Francisco. Never living in NYC but if I had to move there, would try same approach.
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