New York City is edging toward financial disaster, experts warn

[Cave Savage]

I personally disagree that NYC is expensive because of "unoccupied apartments". It's more so because:

-landlords putting the squeeze on everyone
-certain immigrant groups buying a ton of houses (especially the Chinese) and causing the prices to skyrocket. Certain neighborhoods like Bensonhurst, Brooklyn used to be more affordable but the houses are over a million dollars now that it's a Chinatown
-people with middle income and above moving into places that are predominately lower income
-simply too much demand to live in NYC. There are very few cities in the US that have a true urban vibe (like a European city), so that causes a lot of outside (and inside) interest for people who want to have the features of a real city like not having to drive, having stores, bars and restaurants all around, etc.

The "Midwest transplant" thing is also a myth. Most of the white gentrifiers around here are either native New Yorkers, from the Northeast (the suburbs, NJ, New England, etc), or the West Coast. There are also quite a few AAs from the South as well

 

[Devil Plisken…CMS]

I’ll be waiting for my 3 bedroom in the meantime

 

[Cave Savage]

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.

I was looking at cities like Cincinatti and Cleveland. They're pretty urban/walkable for American standards and have a TON of apartments in the 500-800 dollar range, that's as cheap as you're realistically going to get in any American city.

Plenty of houses for less than 250k as well.

 

[Apollo Creed]

I personally disagree that NYC is expensive because of "unoccupied apartments". It's more so because:

-landlords putting the squeeze on everyone
-certain immigrant groups buying a ton of houses (especially the Chinese) and causing the prices to skyrocket. Certain neighborhoods like Bensonhurst, Brooklyn used to be more affordable but the houses are over a million dollars now that it's a Chinatown
-people with middle income and above moving into places that are predominately lower income
-simply too much demand to live in NYC. There are very few cities in the US that have a true urban vibe (like a European city), so that causes a lot of outside (and inside) interest for people who want to have the features of a real city like not having to drive, having stores, bars and restaurants all around, etc.

The "Midwest transplant" thing is also a myth. Most of the white gentrifiers around here are either native New Yorkers, from the Northeast (the suburbs, NJ, New England, etc), or the West Coast. There are also quite a few AAs from the South as well

The "immigrants" you are talking about are WEALTHY INVESTORS/ELITE Looking to put their money into things. You have to qualify the words you use. Thats like calling Tim Cook an Immigrant for using Ireland as a tax shield for Apple.

 

[Apollo Creed]

I was looking at cities like Cincinatti and Cleveland. They're pretty urban/walkable for American standards and have a TON of apartments in the 500-800 dollar range, that's as cheap as you're realistically going to get in any American city.

Plenty of houses for less than 250k as well.

Cincinatti and Cleavelands job market is garbage compared to Cities that matter like NYC lol. What kind of logic does it make for people to flood markets with cheap housing but no jobs to be able to pay the cheap rent?

 

[Sohh_lifted]

legalize and tax the ganja.....

 

[Cave Savage]

The "immigrants" you are talking about are WEALTHY INVESTORS/ELITE Looking to put their money into things. You have to qualify the words you use. Thats like calling Tim Cook an Immigrant for using Ireland as a tax shield for Apple.

Plenty of Asians pool their money together and buy these overpriced houses. That's why the number of Chinatowns in NYC has increased from 1 to 5+ over the years. They really move into these houses and live there.

I'm not talking about a Russian billionaire buying 8 luxury apartments in Manhattan.

@HaitianPattyFromNYC

 

[ExodusNirvana]

And stop reading the NY Post you stupid c00ns...fukk...nikkas can tell you the last rapper to get his ass beat but can't remember that the NY Post is a conservative bird cage lining

 

[Apollo Creed]

Plenty of Asians pool their money together and buy these overpriced houses. That's why the number of Chinatowns in NYC has increased from 1 to 5+ over the years. They really move into these houses and live there.

I'm not talking about a Russian billionaire buying 8 luxury apartments in Manhattan.

@HaitianPattyFromNYC

Ok 10 Asians pooling money to live in 1 house/Condo still = A ton of un occupied property. If everyone did communal living in order to stay some where you still end up with un occupied luxury housing because more people are living in less propriety.

 

[Cave Savage]

Cincinatti and Cleavelands job market is garbage compared to Cities that matter like NYC lol. What kind of logic does it make for people to flood markets with cheap housing but no jobs to be able to pay the cheap rent?

Aren't Columbus and Cincinatti booming? A lot of 20 somethings work in the service industry anyway, which there are jobs for everywhere.

And not everyone can live in NYC or the Bay Area, that's just how things are always gonna be. I'm actually from New York and sure I don't like how expensive things are getting, but what am I going to do about it?

 

[Apollo Creed]

Aren't Columbus and Cincinatti booming? A lot of 20 somethings work in the service industry anyway, which there are jobs for everywhere.

And not everyone can live in NYC or the Bay Area, that's just how things are always gonna be. I'm actually from New York and sure I don't like how expensive things are getting, but what am I going to do about it?

I have fam in Cincinnati and I have never heard of it "booming". One person specifically is trying to get the hell out. I cant speak on Columbus.

 

[The Fukin Prophecy]

I personally disagree that NYC is expensive because of "unoccupied apartments". It's more so because:

-landlords putting the squeeze on everyone
-certain immigrant groups buying a ton of houses (especially the Chinese) and causing the prices to skyrocket. Certain neighborhoods like Bensonhurst, Brooklyn used to be more affordable but the houses are over a million dollars now that it's a Chinatown
-people with middle income and above moving into places that are predominately lower income
-simply too much demand to live in NYC. There are very few cities in the US that have a true urban vibe (like a European city), so that causes a lot of outside (and inside) interest for people who want to have the features of a real city like not having to drive, having stores, bars and restaurants all around, etc.

The "Midwest transplant" thing is also a myth. Most of the white gentrifiers around here are either native New Yorkers, from the Northeast (the suburbs, NJ, New England, etc), or the West Coast. There are also quite a few AAs from the South as well

I don't think anybody has said NYC is expensive because of unoccupied apartments...

All we been saying is that these high rises are a symptom of a far larger problem...Logically speaking, why are you standing up high rise luxury apartments all over the city when you have a housing crisis?

Homeless approaching 80s levels and your housing department trying to be slick on the low telling struggling folk on the brink of homelessness to move out to Jersey...

You have to question these actions get to the root of the problem...Everything going on in NYC right now is clearly being done to get rid of certain undesirables...They want NYC to be a playground for the rich...

 

[Cave Savage]

Ok 10 Asians pooling money to live in 1 house/Condo still = A ton of un occupied property. If everyone did communal living in order to stay some where you still end up with un occupied luxury housing because more people are living in less propriety.

Most of NYC's housing stock in almost any neighborhood is not luxury condos. A neighborhood can be made up of nothing but 120 year old apartment buildings and it will still be expensive as fukk because people pay to live there.

 

[Apollo Creed]

Most of NYC's housing stock in almost any neighborhood is not luxury condos. A neighborhood can be made up of nothing but 120 year old apartment buildings and it will still be expensive as fukk because people pay to live there.

You're confused breh. We are saying the NEW housing they are building in NYC is majority if not all LUXURY targeted. People are holding on to the OLD housing because it tends to be less expensive than the NEW housing. We are saying there is no NEW housing inventory being created that is affordable (when it comes to major cities)

 

[Cave Savage]

I don't think anybody has said NYC is expensive because of unoccupied apartments...

All we been saying is that these high rises are a symptom of a far larger problem...Logically speaking, why are you standing up high rise luxury apartments all over the city when you have a housing crisis?

Homeless approaching 80s levels and your housing department trying to be slick on the low telling struggling folk on the brink of homelessness to move out to Jersey...

You have to question these actions get to the root of the problem...Everything going on in NYC right now is clearly being done to get rid of certain undesirables...They want NYC to be a playground for the rich...

Many of those buildings end up being 80/20 buildings which is one of the city's "solutions" but it's kind of a sham because much of the time (not always) the housing is not actually affordable.

What could realistically be done, more NYCHA towers? Funding for NYCHA has been cut by the federal government and the city government will not have money to pay for such a thing unless they cut spending.