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OT: new York city is changing
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EnySpree
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8/22/2006  12:14 PM
I'm sitting here at the hole where WTC used to be.

Its just makes me nervous. I mean there is gonna be change and development but I think there is a little too much over development going on. Like for instance, all the businesses you see at fulton street just blocks from wtc are gonna be demolished. Dude, there is gonna be a huge transit hub built at Fulton and God only knows what the new wtc will look like.

Just talking manhatten there is just a lot of development. If they ever hey the balls to place tolls on the free bridges entering manhatten then those mofos might eventually decide to go ahead and place a bubble around the island and call it a day!

What about the new manhatten? Downtown Brooklyn. Its already in place with the nets set to play their in this decade. Its kinda depressing.

Its already happening but soon nyc won't have any actual native new Yorkers. There will be no room for the middle class.
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simrud
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8/22/2006  12:24 PM
This happens in ebbs and flows. If it really comes to a point when the middle class is significantly pushed out of the city, the citie's economy will take huge step back, companies will crasha nd burn, and the marekt will fix itself by ecouraging the middle class to reemerge.

A city MUST have middle class to exist, otherwise its just commercial center that exists thanks to some kind of metropolitan area next to it. Thats how places like Newport and Weehawken come up and are viable, but if you really do away with the city as an entity and turn into a superized business mall, there will be untold problems.

Ofcousre this could be part of a larger trend where the suburbs are mering with the city itself, and balancing out the middle class loss in the city by middle class gain in the suburbs. Of you have a middle class income level, it might be a good idea to look into moving until conditions improve and investing into a mortgage in a small house close to the train or other public transportation.

But from my exprerience as somebody who is about to graduate college in ayear, and have many firends who already did, several of them are actually moving to Manhattan/Weehawken/Newport, and they will pretty much be makin middle to higher middle class money. So its really a complicated issue on which I would like to see some statistical analysis.
A glimmer of hope maybe?!?
Nalod
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8/22/2006  12:25 PM
I moved from NYC 20 years ago because its just too many people living in such a small place.

Its a great city and to me the suburbs are so generic you might as well live anywhere.

So I moved to North Carolina and never looked back. I still Love the city, just don't want to live there.

Different strokes for different folks!
EnySpree
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8/22/2006  12:39 PM
The middle class will still have jobs, or at least the lucky ones and everyone will just have to commute. I'm thinking of moving to CT myself. I think now is the best time to buy real estate. Its hard to kick someone out of their homes if they own it.

Imagine a city where the people that work their can't afford to live there?
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OasisBU
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8/22/2006  2:34 PM
Posted by EnySpree:

The middle class will still have jobs, or at least the lucky ones and everyone will just have to commute. I'm thinking of moving to CT myself. I think now is the best time to buy real estate. Its hard to kick someone out of their homes if they own it.

Imagine a city where the people that work their can't afford to live there?

Welcome to modern day Europe - where people rent for life.

It is depressing, but this cycle has happened before. I would disagree with you on now being the time to buy - we are heading into an economic slow down - now would be the time to hold your cards and try to save as much cash as you can, so when we hit bottom you can buy and ride the wave up.
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Nalod
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8/22/2006  3:04 PM
Wait but don't be put off by the higher interest rates. Get a variable then in a few years lock in lower.

but if you think rates are going higher, don't do it.
oohah
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8/22/2006  4:59 PM
Imagine a city where the people that work their can't afford to live there?

Welcome to modern day Europe - where people rent for life.

As a life-long Manhattanite, it's already like that here fellas!

I was looking for a place with my girlfriend recently and you have to pay about $300,000 for 200-250 square feet (below 96th street).

Needless to say we are renting now.

Most people have to work in Manhattan but don't make enough to have the 'privelege' of living here.

It's sad really.

oohah

Good luck Mike D'Antoni, 'cause you ain't never seen nothing like this before!
TemujinKnick
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8/22/2006  9:25 PM
NYC is the only city in the world that changes itself completely every ten years. New York has never been the same. New York will never be the same. Let's hope it stays that way.
BRIGGS
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8/22/2006  10:04 PM
Posted by oohah:
Imagine a city where the people that work their can't afford to live there?

Welcome to modern day Europe - where people rent for life.

As a life-long Manhattanite, it's already like that here fellas!

I was looking for a place with my girlfriend recently and you have to pay about $300,000 for 200-250 square feet (below 96th street).

Needless to say we are renting now.

Most people have to work in Manhattan but don't make enough to have the 'privelege' of living here.

It's sad really.

oohah

oohah I have lived in NYC brooklyn and manhattan lower fairfield county and now up here in the ct shoreline--i would recommend anyone to move out here. While its still not cheap its 1/2 the price of LFC and 1/4 the price of NYC--metro north is right here in town and i think it runs all the way up to old saybrook. I would rather take the longer train commute and live out here---and I think things will morph that way--its nice out here LFC well parts of it i mean most people cant afford to live in the woods of new canaan or greenwich wesport etc.. and city is to much supply and eamnd---if my house that i grew up in fetches near a million just a two family brickstone in Brooklyn where the F are people going to live? if you can afford 550-600K--you can find a 3000 SQFT place with an acre out here in town --I saw a house in Westbrook 1800 SQFT one house from the water with views going for 600K in Wesport it would be 2.5mm+ etc...

[Edited by - BRIGGS on 08-22-2006 10:06 PM]
RIP Crushalot😞
Nalod
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8/23/2006  8:44 AM
Briggs lives on the water.

Hooray! Party at Briggs!
Vmart
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8/23/2006  3:08 PM
The tri state area is becoming very expensive to live in. Just had relatives come in for a visit from Indiana. I'm starting to think they live a better life out there then I do here in NY area. Less gas price less on living expenses. You can get a 4 bed room 3500 sf house for 150,000. And to top it off they earn about as mush as people in NY do. I really think that its a lot more stress free environment they have out there. I love NY but this place is no joke to live in. We pay more in taxes to boot. The first chance I get to leave NYC area I'm gonna take it.

Its not like it use to be in the past, where you couldn't get your favorite sports teams if you moved. You can pretty much follow your favorite team from anywhere.
Nalod
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8/23/2006  3:27 PM
Posted by Vmart:

The tri state area is becoming very expensive to live in. Just had relatives come in for a visit from Indiana. I'm starting to think they live a better life out there then I do here in NY area. Less gas price less on living expenses. You can get a 4 bed room 3500 sf house for 150,000. And to top it off they earn about as mush as people in NY do. I really think that its a lot more stress free environment they have out there. I love NY but this place is no joke to live in. We pay more in taxes to boot. The first chance I get to leave NYC area I'm gonna take it.

Its not like it use to be in the past, where you couldn't get your favorite sports teams if you moved. You can pretty much follow your favorite team from anywhere.

I hear you and did just that. My lifestyle here would be hard to dumplicate in NYC. WOuld take 4x my current income. The other thing is its easier to save and invest ones money too let alone afford own home and good schools (taxes).
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