Where do you expect most of NYC's poor will be pushed to? (New York: 2013, renters)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
In all honesty we may have reached a limit on gentrification, at least on Williamsburg style gentrification. Places like the Village and Williamsburg have real estate prices held up by transients, people who are only here for a short time. College students, people are the beginning of their careers, etc. Some will get established here, many will move on. A lot of people who truly live elsewhere will buy and rent in these neighborhoods, because they want to be in the city sometimes. However, not every wealthy person is interest in condo or co cop living, and others like big houses and estates which you simply do not have in NYC.
Is someone used to living in a mansion going to permanent relocate to an one bedroom in Williamsburg? I think not!
And you base your opinion on?
This misconception that highly educated, young professionals only stay in NYC for a short time is completely unfounded. Millennials seek urban neighborhoods, NYC is the pinnacle of urbanity in the USA. Cities have become extremely desirable place to live and that shows no sign of change. It is now suburban areas that are in decline. In fact it is only intensifying. The 1950s are long gone (Good riddens!)
If you had been keeping up with the residential situation in NYC you would notice that luxury condo demand well outpaces supply resulting in a development boom. These are not college kids. The college kids are supplying demand in other ways (near subway access/hip communities/gentrifying nearby communities). So are families who are increasingly interested in staying in the city (see affordable housing shortage).
This misconception that highly educated, young professionals only stay in NYC for a short time is completely unfounded. Millennials seek urban neighborhoods, NYC is the pinnacle of urbanity in the USA. Cities have become extremely desirable place to live and that shows no sign of change. It is now suburban areas that are in decline. In fact it is only intensifying. The 1950s are long gone (Good riddens!)
If you had been keeping up with the residential situation in NYC you would notice that luxury condo demand well outpaces supply resulting in a development boom. These are not college kids. The college kids are supplying demand in other ways (near subway access/hip communities/gentrifying nearby communities). So are families who are increasingly interested in staying in the city (see affordable housing shortage).
I am a highly, educated, young professional myself. First of all, if someone is dedicated to their career, they will go with the best opportunities are.
My first degree is from Cornell. Right now applying to masters programs in the city. But if I decided to do a phd, and if I decided to go for one at a top university, you've really one top university in NYC. Columbia. Still ranked below Harvard, Yale, and Princeton.
Of course, there are a number of top universities around the country, Stanford, UChicago, Georgetown, etc. I'd have to be somewhat open minded in the future about where I live, if I was serious about my career, and wanted a life beyond drinking in stupid overpriced bars.
Its the same for a number of other fields. The top computer industry jobs tend to be in the bay area. Los Angeles is the center of film and tv. And as an Ivy Leaguer, my social circle is all young professional, and we all have to consider other places, depending on what comes up in our careers.
You sound like you've been watching too much Sex in the City, lol
The main fields NY has over other cities is investment banking and advertising. There are a lot of hospitals here, but there are top hospitals in other cities as well. NYC is a college town, but there are plenty of college towns. NYC is not the top destinstation for engineers, and scientific research is done all over. I have friends who work at Microsoft in Seattle, friends who are moving up in the film industry in LA and Canada, friends in academia in other places.
Don't get me wrong, there are good career opportunities in NYC. But is not necessarily THE place for your career. And by the way, contrary to popular belief, people who are really busy in their successful careers don't have a lot of time to be in trendy bars. I had friends who worked on Wall Street 80-100 hours a week. If you work like a horse, doesn't matter too much where you live, as you won't be hanging out that much. I can say the same for professors, doctors, lawyers, programmers, actors, writers, and musicians who are actually busy with gigs, etc. The real life of a having a career in something is going to be pretty mundane.
And even for college students, if you're really doing well in your studies, its not like you have time to be partying every night.
The above is all anecdotal. Nykiddo is actually dead on based on trends that are backed up by data. The latger population shift is towards cities with developed and dense urban cores.
The above is all anecdotal. Nykiddo is actually dead on based on trends that are backed up by data. The latger population shift is towards cities with developed and dense urban cores.
Who is shifting? Recent college graduates struggling to pay the bills, with 3 people in one apartment?
There's a bit of propaganda here. Wealthy suburbs have yet to disappear, and many of the apartments in NYC are purchased by out of towners who don't live here. That's backed up by data as well.
There aren't the jobs to sustain a real large shift of Americans to NYC.
And backed up by data, NYC has a huge college population, a huge intern population, a huge medical residency population, etc. And many of these people LEAVE town. People are always coming and going.
You guys are creating a fictional NY that doesn't exist.
And its not anecdotal that professionals have to move to where is best for their careers, which won't necessarily be in NYC. Of course, you guys are not highly educated professionals, you wouldn't know that, would you?
For someone who considers yourself highly educated, you certainly fail to think critically. Your conclusions are one dimensional.
People don't only move to NYC for guerenteed jobs or high paying salaries. The lifestyle here is unique, you won't find it anywhere else in the world.
Not to mention Milennials moreso desire social connections and experiences then homes, yards, and cars. Both of which are much more likely in a city (thank walkabilty and density) then suburb or rural environment. A very different more diverse group then the intolerants of the 1950s.
Last edited by nykiddo718718; 12-25-2012 at 02:34 AM..
For someone who considers yourself highly educated, you certainly fail to think critically. Your conclusions are one dimensional.
People don't only move to NYC for guerenteed jobs or high paying salaries. The lifestyle here is unique, you won't find it anywhere else in the world.
Not to mention Milennials moreso desire social connections and experiences then homes, yards, and cars. Both of which are much more likely in a city (thank walkabilty and density) then suburb or rural environment. A very different more diverse group then the intolerants of the 1950s.
They have to be able to support themselves upon arriving, and yes, a lot of people do leave as their careers dictate. Someome who comes here to go to school at Columbia may get into Stanford Law School or Harvard Medical. Someone who works on Wall Street may get a transfer to London or Hong Kong. Someone moving up the corporate ladder at AT&T may end up at company headquarters in Texas.
People who are the most ambitious people care for their careers first and foremost, not for the NYC lifestyle.
And quite obviously if you think is politics or the federal government, ultimately that's Washington, DC.
And by the way, the wealthiest and most successful people still do not give up their suburban homes or country estates. It just doesn't happen.......
Now that I think about it, the Ivy League has only one university in NYC, Columbia (Cornell only has certain programs here). The rest of the Ivy Campuses, including Harvard, are suburban or rural. That says something right there, since its where the most affluent people send their children. Harvard is Cambridge, MA, Princeton in Princeton, NJ, Yale is in New Haven, CT, Cornell is in Ithaca, NY, Dartmouth is in NH, Brown is in Rhode Island.
Stanford and Northwestern, other top universities, are also in suburban areas.
Lets face it, while some young upper middle class kids might be willing to deal with tiny urban apartments, the real money keeps their big houses and huge estates. That will never change. Ultimately, tiny apartments are for poor people that can't afford better...........
I didn't say anything about NYC specifically, I said dense urban centers.
Then that makes a lot more sense. As noted, which city is best to live in depends on a number of different factors, including the field in which you work.
Some people leave, but the growing trend is moving to and staying put in urban areas. NYC attracts more than most. The argument here was that you personally felt that gentrification will soon cease in NYC. I completely disagree due to the factors I previously mentioned.
The mentioned Ivy League campus and surrounding areas are highly walkable, young, diverse areas. They have more in common with a city then suburb.
Work. Of course certain cities may be known for certain things, but go ahead and name me an American city with a more diverse portfolio. BTW, almost half of the new office space under construction in the entire USA is where? You guessed it, NYC.
Not every apartment in NYC is tiny either, especially when it comes to luxury residences. There are TONS of wealthy people in NYC. Probably among the largest concentrations in the world. Location is everything in real estate. What's more prime then Central Park West? Or One57? Or Park Ave?
Again NYC is highly desirable and that desirability shows no sign of reversal. The city is only getting ready to add another million or so in a relatively short amount of time. There are a lot of improvements coming along as well. Get ready for a West Side revitalization in Manhattan, enhanced waterfront access and development across the city, new parks, new museums, nightlife, and a whole mess of things. Even the skyline will be dramatically transformed in just a few years.
Last edited by nykiddo718718; 12-25-2012 at 03:53 AM..
Some people leave, but the growing trend is moving to and staying put in urban areas. NYC attracts more than most. The argument here was that you personally felt that gentrification will soon cease in NYC. I completely disagree due to the factors I previously mentioned.
The mentioned Ivy League campus and surrounding areas are highly walkable, young, diverse areas. They have more in common with a city then suburb.
Work. Of course certain cities may be known for certain things, but go ahead and name me an American city with a more diverse portfolio. BTW, almost half of the new office space under construction in the entire USA is where? You guessed it, NYC.
Not every apartment in NYC is tiny either, especially when it comes to luxury residences. There are TONS of wealthy people in NYC. Probably among the largest concentrations in the world. Location is everything in real estate. What's more prime then Central Park West? Or One57? Or Park Ave?
Again NYC is highly desirable and that desirability shows no sign of reversal. The city is only getting ready to add another million or so in a relatively short amount of time. There are a lot of improvements coming along as well. Get ready for a West Side revitalization in Manhattan, enhanced waterfront access and development across the city, new parks, new museums, nightlife, and a whole mess of things. Even the skyline will be dramatically transformed in just a few years.
The Ivy League campuses, that I've mentioned are suburban. I mean, yes, if you live on campus, you can walk around campus, because you live on campus or next to it! But beyond that, they are in suburban or rural areas, with the exceptions of UPenn and Columbia. 6 out of 8, not in the city. The more affluent kids on campus had cars, btw., when I went to Cornell and other rural/suburban Ivies are similar. If your parents are loaded and money is no object, you drive.
Sandy was a comparatively weak storm. What happens if a Katrina strength hurricane comes to NYC? Lets just say all that waterfront development won't happen. In fact, there are already huge issues with the insurance companies on that right now. Factor in rising sea levels and we will see a very different NYC. Oh, all the money NY was supposed to get from Hurricane Sandy damage? The feds are capping it will below what the governor and mayor wanted. Doesn't do much for waterfront properties, does it? Sandy has already undone the gentrification of the Rockaways. Its hell there and it will be a long time before its normal again, and that's if we don't have another hurricane next year.
I don't think Bill Gates would consider Central Park West prime real estate. His money is in Microsoft, in Seattle. No, its quite possible he has a NYC building, with all his money, but his primary residence is out west. Ditto for all the other tech billionaires, Zuckerberg, Jobs (who recently passed away). Their primary residences are close to the company they own, which are all headquartered out West.
NYC is not highly desirable to everyone who has money, it never has been and it never will be. The richest people, even if they do have an apartment in Manhattan, will always have houses and estates in the suburban and rural areas. For starters, no wealthy person is going to expose themselves to having all NYC real estate, which is vulnerable to economic downturns, terrorist attacks, and now hurricanes.
Bloomberg himself basically paid Cornell to open up a tech school here. Why? Bloomberg thinks the city is too dependent on finance, and that leaves NYC vulnerable. NYC does not have a single computer company headquartered here (IBM is headquartered in Westchester) and NYC has created no new major companies in decades, while the last 40 years saw new huge companies like Intel, Microsoft, Facebook, Apple, Oracle, all form out on the West Coast. NYC has no innovation.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
