New York City is edging toward financial disaster, experts warn

[Cave Savage]

all i gotta say...is a 1 bedroom on the stroll in hunts point...1400 a month. NYC needs a cotdamn slap in the face.

The reason that rents are getting that high in slummy areas is because Mexican, Dominican, etc. families will split the rent

 

[Cave Savage]

That's why these rich NYC folks all over Philly now buying and investing in property and some even moving here. Stay y'all asses out of Philly region.

My mom neighborhood has over 11 NYC families saying Philly cheaper and they get more bang for buck.

I hope New Yorkers don't jack up Philly rents. I also hate when people act like Philly is super cheap because it gets more expensive every year. It's pretty much just average American city price now

 

[wtfyomom]

The post has a lot of bullshyt but sometimes it has legit info in there. I think this is legit. It was bound to happen when they started letting the transient population into the working and lower class areas. They know these people aren't likely to stay because they can move and go elsewhere for whatever reason. So if these people move out by the dozens, that means that there won't be enough money coming in. That's why all this gentrification going on is bad in the long run.

i didnt say it wasnt legit. but its not an NYC only problem, but the post , ok obviously theyre a NY paper but foxnews lets say, they would never run smthg against the multitude of broke red states but nyc or cali have issues and suddenly they run a story and blame it on democrats running the state as if republicans wouldnt do the exact same shyt if not worse

 

[The Fukin Prophecy]

they need to look at whose overcharging them for contract work and get that money back by any means necessary. There's so much theft in city contracts

These contracts are being sold to the highest bidder...Classic pay-to-play construction fraud scheme sanctioned by your favorite politician(s)...

This is why they wanted Amazon here so bad...It's all about filling up these high rise apartments whether its all transplants or locals is completely irrelevant...That's also why the NY housing department been telling lower income folk to move to Jersey...That's their way of "fixing the housing problem" without admitting these high rises they been building sit 60% unoccupied...Shift the "undesirables" out to Jersey to mask the problem and with Amazon here creating more higher income jobs you fill those apartments...

Cuomo and De Blasio should both be in cuffs...

 

[Cave Savage]

I'm not against mass immigration for xenophobic reasons but I don't see it as a good idea when this country's population has increased 3X in just 50 years. More people moving to this country = more demand for housing and higher prices

 

[Family Lives Matter]

New L

 

[Apollo Creed]

I'm not against mass immigration for xenophobic reasons but I don't see it as a good idea when this country's population has increased 3X in just 50 years. More people moving to this country = more demand for housing and higher prices

the issue is all of the housing being built right now across the country is usually "luxury" housing that nobody can afford.

 

[Pazzy]

I hope New Yorkers don't jack up Philly rents. I also hate when people act like Philly is super cheap because it gets more expensive every year. It's pretty much just average American city price now

Too late. Philly already been undergoing gentrification. I just think that this reurbanization thing is a disaster waiting to happen. All these suburbanites need to stay put. They are fukking up the economy with this income area displacement shyt. The lower income and working class are the main tax base. The wealthy usually aren't paying shyt so obviously they have to make adjustments.

 

[Blessed Koala]

And the bubble of gentrification pops

This country gonna learn from Japan's mistakes. The problem nowadays is that there's a band aid covering the gunshot wound of this economy. People think that shyt is fine and dandy, but fail to realize we are on the verge of probably the worst economic collapse since 1929. It's going to make The Great Depression look like a peaceful vacation. Coli brehs, my prayers with yall and as always:

 

[Cave Savage]

the issue is all of the housing being built right now across the country is usually "luxury" housing that nobody can afford.

There are cheap houses/rents in much of the country but a lot of young people don't want to move there because they're not "cool" places. They instead would rather move to overpriced cities and live with roommates like they're still 18 years old and in college

I'm actually thinking about moving to Cincinatti, Ohio while it's still affordable

Too late. Philly already been undergoing gentrification. I just think that this reurbanization thing is a disaster waiting to happen. All these suburbanites need to stay put. They are fukking up the economy with this income area displacement shyt. The lower income and working class are the main tax base.

Yeah but it will get worse if people from expensive places like New York move in and happily overpay rents because it's cheaper than what they're used to. That's what happens within cities too.

 

[Unemployed GM]

How? I am seriously asking. I see the same thing in DC and those apts can’t be more than at 50% occupancy.

 

[Blessed Koala]

Too late. Philly already been undergoing gentrification. I just think that this reurbanization thing is a disaster waiting to happen. All these suburbanites need to stay put. They are fukking up the economy with this income area displacement shyt. The lower income and working class are the main tax base. The wealthy usually aren't paying shyt so obviously they have to make adjustments.

.The writing was on the wall when they started fukking up portions of North Philly near temple. I remember old heads just shaking their heads because of the drastic change of the area. Sure, North Philly can be...North Philly but you are ruining livelihoods by adding shyt that don't need to be there. It only causes more tension and confusion to the point that it promotes more crime. But never mind all of that, put a Starbucks near poppy who held down the hood for years with Cheesesteaks

 

[I Really Mean It]

Article could have a political slant.


Article could be politically biased, but according to that article:

• The top 1 percent of New York City earners pay some 50 percent of Big Apple income tax revenue.

Then they should pay more.

 

[Apollo Creed]

There are cheap houses/rents in much of the country but a lot of young people don't want to move there because they're not "cool" places. They instead would rather move to overpriced cities and live with roommates like they're still 18 years old and in college

I'm actually thinking about moving to Cincinatti, Ohio while it's still affordable



Yeah but it will get worse if people from expensive places like New York move in and happily overpay rents because it's cheaper than what they're used to. That's what happens within cities too.

No there isn't lol. There are no NEW AFFORDABLE HOUSING being built. The closest thing you see today is Senior Living communities or Luxury Communities with like 10% rent controlled units. There are no new apartment developments being created like that where they simply say "hey this is going to be priced reasonably". Everyone makes the argument that the housing built is priced to the market, but if thats the case why are these places barely occupied.

The so called "not cool" places where young people dont want to move to are outside of the city core and lack connection to basing things like grocery and transit to even get to work lol. Dudes just be talking for the hell of it. I'm in ATL and literally everything being built in the City of ATL is luxury housing that nobody lives in.

 

[ExodusNirvana]

Cats in here still sucking corporate America and the colonizers dikks? STILL???

I even saw a few hints of "The poor 1% " in here too

You nikkas kill me