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The changing face of post-pandemic New York City

osc.ny.gov

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Re: The changing face of post-pandemic New York City

#61

Post by airstrike »

throwitaway222 wrote: post #7

Where did they move? (FL?)

According to latest data from the U.S. Census, Florida ranks #1 in total net migration, which measures the difference between the number of people moving in and the number of people moving out of a state. From July 2021-July 2022, nearly 444,500 people moved to Florida, which compared to the previous year was a gain of 185,000, the largest year-over-year impact of residents moving.

Florida also ranked #1 in domestic migration, #2 in international migration, and #1 with the most people moving in per day at 1,218. Texas followed Florida in both total net migration (349,575) and most people moving in per day (958). Florida’s total population has reached more than 22.2 million and sits third in the nation behind California and Texas, previously surpassing New York.

New York and California, two of the biggest markets to the South and South-Central regions, experienced the largest out migration, followed by Illinois.

https://tampabayedc.com/news/how-many-people-moved-to-florid...

Re: The changing face of post-pandemic New York City

#62

Post by Der_Einzige »

ThomPete wrote: post #28
cglan wrote: post #12

I live in NYC. The problem is that there’s literally 0 housing. That’s it. Literally so many people want to move here, but you look on all of streeteasy on a given day and there’s like 500 apartments. In a city of millions. Sure you can pay more and get something. But it used to be that you traded a lot of quality of life (in unit washer dryer, dishwasher, ac, no walkups, cars, space, etc) for a lower price and the s…

Agree. Food wise it's wild too. What used to be the price of an entres is now the price of an appetizer and the service have gotten down too. Getting a place you actually want to live 2 bedrooms is at least $4K we pay much more because we live in a nice building. But it's still a great city and I am sure somethings gotta give.

Bad service means the economy is good. Haven't you heard of the hot waitress index?

Re: The changing face of post-pandemic New York City

#63

Post by [deleted] »

[deleted] wrote: post #15
cglan wrote: post #12

I live in NYC. The problem is that there’s literally 0 housing. That’s it. Literally so many people want to move here, but you look on all of streeteasy on a given day and there’s like 500 apartments. In a city of millions. Sure you can pay more and get something. But it used to be that you traded a lot of quality of life (in unit washer dryer, dishwasher, ac, no walkups, cars, space, etc) for a lower price and the s…

[deleted]

[deleted]

Re: The changing face of post-pandemic New York City

#64

Post by henry2023 »

fny wrote: post #37
cglan wrote: post #12

I live in NYC. The problem is that there’s literally 0 housing. That’s it. Literally so many people want to move here, but you look on all of streeteasy on a given day and there’s like 500 apartments. In a city of millions. Sure you can pay more and get something. But it used to be that you traded a lot of quality of life (in unit washer dryer, dishwasher, ac, no walkups, cars, space, etc) for a lower price and the s…

1. Most people rent not buy in NYC. There are plenty of rentals. 2. I’m in the market to buy, and I’ve been able to make bids below asking so I’m not sure demand is as high as you’d suggest.

"I've been able to make bids below asking so I'm not sure demand is as high as you'd suggest"

You can have super high demand all making bellow asking bids if the asking price is irrational.

Re: The changing face of post-pandemic New York City

#66

Post by akavi »

4death4 wrote: post #24
cglan wrote: post #12

I live in NYC. The problem is that there’s literally 0 housing. That’s it. Literally so many people want to move here, but you look on all of streeteasy on a given day and there’s like 500 apartments. In a city of millions. Sure you can pay more and get something. But it used to be that you traded a lot of quality of life (in unit washer dryer, dishwasher, ac, no walkups, cars, space, etc) for a lower price and the s…

This would make sense if the population growth was increasing but at a slower rate. But, the population is actively declining. Somehow, 5.3% of people went from having housing to leaving, so I don’t think housing is the only story here.

It might not be the only story, but it's very possible for growth in demand for housing quantity to outstrip growth in population. Say if there was a sudden move to working from home, which encourages home offices, concentrated in the class of workers with flexibility in their budget to spend more on rent (a class that's disproportionately large in NYC)?

It's also possible for supply of housing to reduce simultaneously. Say if there was a change in rental laws that strongly incentivized landlords to pull units from the market?[0]

[0] https://reason.com/2019/06/17/new-yorks-progressive-backed-r...

Re: The changing face of post-pandemic New York City

#68

Post by vitno »

thehappypm wrote: post #44
shortrounddev2 wrote: post #22

Earlier quoted context omitted.

And new york decides the best way to solve this problem is to irrationally ban short term rentals rather than just building more housing

NYC is insanely dense already. “Just build more housing” isn’t really viable.

"just build more housing" is definitely viable here in NYC. NYC is not that dense in comparison to many other major metropolis in the world.

Re: The changing face of post-pandemic New York City

#69

Post by cjbgkagh »

luxurytent wrote: post #14

Cities are amazingly resilient and it feels like every generation has a moment in which the city largest and most local to them is having a revival. Seems most large metros are going through some post-COVID pains: Increase in crime, extreme high cost of living, etc. New York will, like always, come back. But! The benefit to our mid size cities is great. We need these mid size cities to grow, and from my understanding…

That assumption obviously has an availability heuristic bias / selection criteria bias, like speeding down a road is safe because you haven’t died yet.

NYC no doubt has a lot of things going for it, I think being the financial center for the hegemony is the deciding factor. In my view survival of NYC probably has less to do with local crime than the outcome of future wars.

Re: The changing face of post-pandemic New York City

#70

Post by pclmulqdq »

cglan wrote: post #12

I live in NYC. The problem is that there’s literally 0 housing. That’s it. Literally so many people want to move here, but you look on all of streeteasy on a given day and there’s like 500 apartments. In a city of millions. Sure you can pay more and get something. But it used to be that you traded a lot of quality of life (in unit washer dryer, dishwasher, ac, no walkups, cars, space, etc) for a lower price and the s…

When people (including myself) talk about New York not being fun any more, it's almost always in relation to the price. Rent is incredibly expensive at this point, and that drives up the price of literally everything else, too. New Yorkers also don't understand that the "tier 2" cities in the US actually have most/all of the food, culture, and activities that they think are exclusive to New York.

On the other hand, lots of New York evangelists in 2023 are lifers who have locked in their rent-stabilized apartment rates 20 years ago, and enjoy all the amenities that (largely) the rest of us are supposed to pay for.

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