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Thread summary:

Rant on New York City real estate prices, homes too expensive, half million dollar starter homes, middle class in New York being squeezed out

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Old 02-13-2008, 01:59 AM
 
Location: Bronx, New York
4,437 posts, read 7,669,634 times
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Quote:
Originally Posted by keith talent View Post
Bronx, still no thonks. Couldn't risk my kids growing up Yankee fans! Assuming they even learn English and manage not to get hit by a stray bullet before they reach adulthood, which also might be big achievements.
Just remember, there are quite a few Bronx neighborhoods where you won't have to worry about stray bullets. And not just Riverdale.....
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Old 02-13-2008, 07:08 AM
 
Location: Mott Haven
2,978 posts, read 4,000,582 times
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Keith....there are bout 1.3 million people in the borough of the Bronx...and about .000000007% have ever been struck by a bullet....probably the same amount or LOWER than Brooklyn. It is unfortunate that you say "no thonks" to the Bronx....as you are playing the waiting game that will likely not drive prices to what you ***think** they should be, others are hedging their bets in areas like the Bronx that continue to escalate and improve.

You might also note that there are quite a few people in the Bronx that speak english..and quite a few that don't....but for some reason that seems to be a problem for a nation of immigrants? Interesting dynamic...especially considering most of the world (1st world that is) pride themseleves on knowing multiple languages...Americans for some reason can irrationally justify not wanting to be around immigrants, like many in the Bronx...yet many are just 1 or 2 generations in this country. Just some things to think about.

While you are waiting on the price that will likely never come...I have made my own paradise in the Bronx...as are many others. Enjoy!
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Old 02-13-2008, 09:14 AM
 
274 posts, read 1,108,498 times
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Quote:
Originally Posted by jeffcon0 View Post
Couldn't have said it better myself. It's funny, at my company the people who live in Manhattan are in customer service making $40k and those who make substantially more live in NJ, the boroughs, or LI. To play on a stereotype, they are all very "Sex and the City" type of girls. They seem to have far more disposable income and live far more "fabulous" lives than those of us who make significantly more money than them. How could this be? I think you just answered that question, Ace.
Manhattan is like an alternate universe.

The majority of people I know who work for an actual living and make pretty good coin (6 to 7 figure incomes), work like dogs and still have to live in NJ, LI, or the outer boroughs. Then you've got all these 23 year old girls living in huge apartments in Manhattan, wearing designer clothes and bags, shopping and going clubbing every day. All that on a 9:30 to 5:00, $23,000 job.

I know because I've dated them.

One girl's parents got her a 2 bedroom. They got a nice tax deduction because she was an "employee" of their company. Another girl once asked me, "Why?" (as in, "why on earth would you get a job?") when I told her about my new job. Um to pay my bills? Then there's my buddy who dated a girl, who worked part time, but whose dad bought each of his 3 kids an apartment in Manhattan.

The worse part is they expect you to pay for everything.

This infusion of cash from Daddy into NYC is a large part why everything else is jacked sky high. Some economist really needs to do a study on that impact.
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Old 02-14-2008, 10:40 AM
 
Location: Newton, Mass.
2,954 posts, read 12,299,411 times
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Quote:
Originally Posted by Ace Rock View Post
Manhattan is like an alternate universe.

The majority of people I know who work for an actual living and make pretty good coin (6 to 7 figure incomes), work like dogs and still have to live in NJ, LI, or the outer boroughs. Then you've got all these 23 year old girls living in huge apartments in Manhattan, wearing designer clothes and bags, shopping and going clubbing every day. All that on a 9:30 to 5:00, $23,000 job.

I know because I've dated them.

One girl's parents got her a 2 bedroom. They got a nice tax deduction because she was an "employee" of their company. Another girl once asked me, "Why?" (as in, "why on earth would you get a job?") when I told her about my new job. Um to pay my bills? Then there's my buddy who dated a girl, who worked part time, but whose dad bought each of his 3 kids an apartment in Manhattan.

The worse part is they expect you to pay for everything.

This infusion of cash from Daddy into NYC is a large part why everything else is jacked sky high. Some economist really needs to do a study on that impact.
You are correct about this phenomenon, but maybe it's time to start dating different women. They are not all like that.
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Old 02-14-2008, 10:50 AM
 
Location: Mott Haven
2,978 posts, read 4,000,582 times
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Holden a couple comments:

1-I acknowledge the daddy effect in Manhattan, however most girls are not living the Hilton lifestyle on a $25,000 salary...your examples are the BIG exception, not the rule by any stretch. They will typically have 5 roommates and thus only spend $800 a month on rent and utilities, leaving plenty left over for "fun."

2-The guys who are working like dogs do not have to live in the suburbs of NY and NJ, they choose to for a variety of reasons ( family, wife, get more for the money, etc)...and they are working like dogs because they choose to as well. They would do just fine anywhere...and if they didn't require a 5 bedroom, 4 bath house, 2 SUVs, expensive meals out, and private school for the kids, they would not need a 6 or 7 figure salary nor work like dogs....everyone digs their own grave.
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Old 02-14-2008, 11:17 AM
 
Location: Newton, Mass.
2,954 posts, read 12,299,411 times
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Quote:
Originally Posted by Guywithacause View Post
Holden a couple comments:

1-I acknowledge the daddy effect in Manhattan, however most girls are not living the Hilton lifestyle on a $25,000 salary...your examples are the BIG exception, not the rule by any stretch. They will typically have 5 roommates and thus only spend $800 a month on rent and utilities, leaving plenty left over for "fun."

2-The guys who are working like dogs do not have to live in the suburbs of NY and NJ, they choose to for a variety of reasons ( family, wife, get more for the money, etc)...and they are working like dogs because they choose to as well. They would do just fine anywhere...and if they didn't require a 5 bedroom, 4 bath house, 2 SUVs, expensive meals out, and private school for the kids, they would not need a 6 or 7 figure salary nor work like dogs....everyone digs their own grave.
It wasn't my example, it was the other guy's. I was just saying I know it does exist. I ran into it myself working at a nonprofit; there were local people making little money coming in from Bay Ridge, Ozone Park, and Soundview every day, and 22-year olds with the same salary living in the Village on their parents' dime. I also know plenty of people with the 5 roommates situation who are minding their budget because they want to go out and are willing to sleep in a tiny space to make it happen. All I was saying was that he should try dating people who are not in the daddy category.

I didn't mean to express any opinion at all on the people working like dogs, although that exists as well, even if it is their own choice. I just quoted the post in its entirety since I didn't feel like editing today... Anyone with a 7-figure income who commutes in from outside Manhattan is clearly doing so by choice. Not even Manhattan is that expensive!
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Old 02-14-2008, 01:11 PM
 
Location: Mott Haven
2,978 posts, read 4,000,582 times
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Yeah it was directed to AceRock...not you dude....
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Old 02-14-2008, 01:23 PM
 
Location: Newton, Mass.
2,954 posts, read 12,299,411 times
Reputation: 1511
Quote:
Originally Posted by Guywithacause View Post
Yeah it was directed to AceRock...not you dude....
cool, no problem. Ace Rock was saying on another thread that he wants out of NY, which is fine, but maybe Ace Rock has been seeing a particularly frustrating side of NY.
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Old 02-14-2008, 01:25 PM
 
Location: Mott Haven
2,978 posts, read 4,000,582 times
Reputation: 209
sounds like it....there are many that want out..but more want in...
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Old 02-14-2008, 03:56 PM
 
Location: Los Angeles, Ca
2,883 posts, read 5,888,437 times
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I live in Los Angeles. I read different boards to see what's going on in the world. Very interesting thread, it's a weird world we're living in.

Here in so cal, you see a similar thing to the NYC exces making 6 figures that work like a dog, and have long commutes. And the Sex and the City party girls make nothing, but seem to have a better life.

There's horrible traffic here, alot of people with combined incomes making $80-120 k are priced out of the housing game, they commute an hour, hour and a half. Then some people bought a long time ago, and their life is completely different.

30 years ago you could buy a house on a teachers salary, it's still hard to believe. The last 5-7 years have been an anamoly, eventually it will right itself out. The funny money, funny loans will all implode.

It's made me think about the old standard financial advice everyone gets....work hard, save 5-10% of your income, save for a house, it doesnt work anymore. There are more factors to think about. You've got these wild swings in real estate (houses here are up 300-400% in the last 15 years). You've got swings in communities. Swings in the economy.

It seems like everyone cancels each other out by all wanting the same thing at the same time....great neighborhood, great schools, cheap housing.

I think the problem in the last 30 years (or at least one of the problems, this could be a very long topic).

-Great schools are concentrated in fewer areas, people are willing to spend everything to get into the best districts. Increased demand. Maybe an over emphasis on this.

-Everyone wants into the hot areas, hot area codes, Sex and the City influence, or the OC. Probably over hyped.

-All the funny money, funny loans that fueled the boom.

-Traffic, congestion. People are living farther and farther away from where they work. This is only going to get worst, what are the population projections by 2020 or 2030?

And other factors like inflation, low wages.

If I had a family with young kids (I don't), and I wanted to live in NYC, San Fran or some place like that, I dont know, I'd think about these factors alot. Its gotten complicated. I wonder if it'll be back to normal in 10 years.
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