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for many of the better areas the income and net worth figures are going to be pretty far off .
our finances are not really even tracked except for some sampling through the seperate financial survey that is part of the census but very few get it.
in our own neighborhood the incomes vary by a huge margin. we have elderly stabilized tenants on fixed incomes and very very wealthy tenants all lumped together .
it is very hard to make any conclusion about any of the better areas since incomes will be such a mixed bag and the sampling rate far to low.
my own floor in our building wouldn't even work out to the medians shown , forget about the building and the neighborhood being accurate.
You cannot just build in a community, as there are people and local politicians who answer to those people. Queens will not accept 40 story buildings all long Queens Blvd. Area residents would say that would RUIN the quality of their life, cause streets to become massively crowded and enough people already ride the Queens Blvd trains!
Then don't complain about housing prices and rents going up. If you think density ruins your quality of life, move to some other city... this is New York.
If you want rents to stabilize, there should be a blanket increase of air rights to 15-20 FAR all along all subway stops in the city, excluding landmarked areas. If you don't want this, pay your 2000-3000 rent for 1 bedroom and get room mates and don't complain.
Over time gentrification will continue to drive people out. Don't worry those that have connections or willing to make sacrifices will always find a place to stay at a discount. For every rich new transplant that moves in, others that got priced out will probably squeeze into some multi-fam basement.
Something needs to be done about the high rent. I'm feeling so depressed after calling countless low income management offices and hearing, "we have no rentals available" over and over again. over $1,800 for an apartment in the Bronx says a lot.
Something needs to be done about the high rent. I'm feeling so depressed after calling countless low income management offices and hearing, "we have no rentals available" over and over again. over $1,800 for an apartment in the Bronx says a lot.
I think the best bet is for people to begin to move elsewhere.
All cities would lose their momentum given too high a degree of population.
New York is more expensive than Detroit.
New York is a better fit for some.
Detroit is a better fit for others.
I know some Texans who can afford New York but would never want to live there.
I know some Detroiters who would love to live in New York but just can't afford it.
At the end of the day a certain amount of money is required for a quality of life in a city.
If everyone wishes to live in New York City, the poor will have a relatively low quality of living.
What people here do not understand is that the writing is on the wall. NYC as in all 5 boroughs is on a path of higher rents. There's really no way to stop it without having advert effects on the quality of the housing stock. There are many reasons for high rents. Lack of supply is def one of them as so many people are competing for the same apartment. The city is a huge culprit as they keep increasing assessed real estate values/real estate property taxes as well as keep increasing the water & sewage rate. If the city truly cared about providing affordable housing then they would lower real estate taxes and water & sewage rates so the LLs can pass along the savings to the tenants via cheaper rents.
But NYC politicians have a dilemma in that it relies on these RE taxes and W&S revenue (among other revenue streams) to cater to the very demanding unionized government/city workers who get paid very well with pensions, health care and other benefits thats on the tax payer's dime. If NYC lower's taxes, then the city can't offer these hefty salaries and benefits to these union workers. So damned if you do, damned if you don't. It all comes full circle if you ask me.
Over time gentrification will continue to drive people out. Don't worry those that have connections or willing to make sacrifices will always find a place to stay at a discount. For every rich new transplant that moves in, others that got priced out will probably squeeze into some multi-fam basement.
There has to be a limitation to how far rent and property value will increase. I think rent will stabilize and the second phase will be how far east will gentrification spread. I doubt there is enough capital and jobs to support renovating all of NYC in the near future. Brooklyn and Queens need to become a place of high paying jobs for it to happen.
Yes, rent control lowers supply and drives up rents to an extent.
But what's the alternative? End rent control/stabilization and you will see a bunch of native New Yorkers (disproportionately the elderly) kicked out on the street and replaced by upper class white collar types from elsewhere. The only people who really feel the pain of these high prices are new comers anyways. New Yorkers (and San Franciscans) find a good apartment and keep it in the family. Very few long term residents (been here since birth or for more than 10/15 years) are paying these high rents. It's the people who choose to come here that do. If they think it is too expensive perhaps they should consider a different city, or move to Weehawken and commute.
Major thoroughfares such as Queens Blvd, that is probably one of the widest streets in the city, with 4 subway lines running underneath. That street should literally be lined up with 40 story buildings on both sides. It is zoned for 3-5 stories max along the Blvd
False! Go take a look at the zoning maps, then read the zoning text and learn to not put incorrect facts out there.
For example, in Queens Boulevard in Forest Hills, which is zoned R7, max building height is 80 feet, or 8 stories. Not 3-5 stories max. Should they upgrade zoning along Queens Boulevard? Yes. But don't talk about stuff you don't know about.
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