U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New York > New York City
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-16-2015, 10:32 PM
 
Location: Dallas
282 posts, read 257,531 times
Reputation: 279

Advertisements

Quote:
“The rich now want to be isolated with each other in New York City,” said a 1 percenter who moved to a $10 million-plus home in Manhattan and has found no buyers for his pricey waterfront mansion in Westchester.
Wealthy New Yorkers say goodbye to suburbs, hello to city | New York Post
Reply With Quote Quick reply to this message

 
Old 05-17-2015, 05:54 AM
 
6,909 posts, read 9,048,251 times
Reputation: 2861
Westchester/Nassau is still a very strong market for $800K - $2m houses.
Reply With Quote Quick reply to this message
 
Old 05-17-2015, 06:02 AM
 
1,430 posts, read 1,637,429 times
Reputation: 2240
Affluent INNER-Suburbs will remain strong. These are the towns that have good train access, walkability, amenities and top notch public schools.

Affluent OUTER-Suburbs will experience decline. These are those far out subdivisions in the middle of knowhere, 2hr+ commutes and growing heroin/drug problems.

Tons of people have zero desire to live in the craziness of Manhattan.
Reply With Quote Quick reply to this message
 
Old 05-17-2015, 06:16 AM
 
Location: Bronx
14,885 posts, read 17,450,256 times
Reputation: 7539
Activating NyWriterdude and gdale.

Also call me when Bronxville turns into a suburban waste land and it's residents move to Williamsburg Brooklyn paying half a million for a 500 sqft studio.
Reply With Quote Quick reply to this message
 
Old 05-17-2015, 06:47 AM
 
30,378 posts, read 31,251,406 times
Reputation: 14040
I know that many affluent people like to live in Manhattan but not in the outer boroughs. So it is either Manhattan or the suburbs but not usually the outer boroughs.
Reply With Quote Quick reply to this message
 
Old 05-17-2015, 06:53 AM
 
9,996 posts, read 7,716,817 times
Reputation: 4702
Quote:
Originally Posted by MemoryMaker View Post
Affluent INNER-Suburbs will remain strong. These are the towns that have good train access, walkability, amenities and top notch public schools.

Affluent OUTER-Suburbs will experience decline. These are those far out subdivisions in the middle of knowhere, 2hr+ commutes and growing heroin/drug problems.

Tons of people have zero desire to live in the craziness of Manhattan.
The outer-suburbs weren't really all that affluent in the first place unless in a setting for urbanites second homes. For the most part they attracted people who wanted bigger homes but couldn't afford them in the inner-suburbs. And correct, the inner-suburbs should be fine as long as they can continue to fund their educational system. Unfortunately for them, they'll probably have to continue raising their taxes for the foreseeable futues. If the boros can make their schools competitive, than much of the suburbs will become redundant. With the mentality of these city kids you see these days, that ain't happening anytime soon.
Reply With Quote Quick reply to this message
 
Old 05-17-2015, 11:23 AM
 
5,532 posts, read 5,722,679 times
Reputation: 3146
Nonsense. 2-3 people doesn't make it "the wealthy are moving to the city"... But it's a catchy phrase good for newspapers and following discussions. There are always people moving back and forth.
Reply With Quote Quick reply to this message
 
Old 05-17-2015, 11:30 AM
 
9,701 posts, read 6,689,136 times
Reputation: 9781
Quote:
Originally Posted by Bronxguyanese View Post
Activating NyWriterdude and gdale.

Also call me when Bronxville turns into a suburban waste land and it's residents move to Williamsburg Brooklyn paying half a million for a 500 sqft studio.
You can't get a 500 square foot studio for 500k in Williamsburg, at least if we're talking newer construction. Prices are far higher than 1,000/ft.

And people are totally misreading the article. The article is NOT saying "NYC suburbs will become ghetto wastelands", it's simply saying there's a higher proportion of wealthy people in the city relative to the suburbs. Back in the old days rich people would tend to live in the suburbs, but that has changed. That does NOT, however, mean that Greenwich and Alpine and Scarsdale and Mill Neck will all turn into slums. It just means that long-term trends favor more urban areas, that's all.

Park Slope real estate will probably appreciate better than Bronxville real estate, for example. But Bronxville will remain nice, and desirable, obviously. But the trend from around 1950-2000 where the rich generally wanted the suburbs is over.

And it also depends on the type of suburb. Rye, NY is a much better long-term bet than, say, Dix Hills, NY, because Rye is on the train (so benefits from NYC's revival and increased concentration of high end jobs), Rye has a walkable downtown (so benefits from the trend towards urbanity and mixed use), and Rye is close to city amenities (so benefits from the trend towards more dining out/going out in more urban areas as opposed to the 70's/80's outdated country club suburban scene).
Reply With Quote Quick reply to this message
 
Old 05-17-2015, 11:31 AM
 
1,417 posts, read 1,700,476 times
Reputation: 2171
The really wealthy have houses and apartments all over the place. A farmhouse for country relaxation, a pied a terre in Manhattan, etc.
Reply With Quote Quick reply to this message
 
Old 05-17-2015, 11:34 AM
 
9,701 posts, read 6,689,136 times
Reputation: 9781
Quote:
Originally Posted by Chava61 View Post
I know that many affluent people like to live in Manhattan but not in the outer boroughs. So it is either Manhattan or the suburbs but not usually the outer boroughs.
Not true. There is tons of wealth in the Outer Boroughs. Outside of the Hamptons (which is more a second home community than a suburb), there is no suburban part of NYC that has similar prices as the highest end parts of Brooklyn.

In Gravesend, Brooklyn, raw land for a fairly small lot for a new construction single family home can cost 10-15 million. You won't even pay that for a giant lot in backcountry Greenwich.
Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New York > New York City
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top