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First of all only really Manhattan and the other island (Staten) are surrounded by water. Bronx, Brooklyn and Queens are firmly attached to the rest of the United States with only a fraction of waterfront exposure.
There are several things going on in Manhattan and to an extent the other four boroughs pushing up the cost of housing.
First and foremost Manhattan is no longer the dirty and dangerous place it was late as the 1970's or part of 1980's prompting white flight. The new gussied up and clean (relatively) City has succeeded beyond anyone's dreams of attracting whites, the highly educated and professional classes back. People that once would have moved to the suburbs to live and or raise a family instead are staying in Manhattan. This is causing all sorts of problems basically via economic distortion.
For a long time reasons why housing costs were "low" in much of NYC including Manhattan was largely due to the inability of landlords/property owners to attract and hold those willing to pay more. That has changed as the wealth affect pretty runs from Wall Street/Financial District up through Harlem and onto Washington Heights/Inwood.
With all this new money pouring in those that are being pushed out are heading to Brooklyn, Queens and even parts of the Bronx. This in turn is pushing out long time residents of those areas as they now cannot afford.
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First of all only really Manhattan and the other island (Staten) are surrounded by water. Bronx, Brooklyn and Queens are firmly attached to the rest of the United States with only a fraction of waterfront exposure.
Huh? Brooklyn and Queens are on Long Island. A long island east of Manhattan that requires driving over a Bridge or through a tunnel to reach the rest of America
Republicans only manage to hold onto the NYS senate thanks to upstate and a few downstate areas (Westchester and NYC areas). Demographic and other changes make it very likely in a few decades or maybe even a decade Republicans will lose at least those downstate seats and certainly perhaps a few more upstate.
In certain areas of NYS local population just will not vote republican, but they will vote for a democrat with "conservative" views so that explains Rubin Diaz and others.
It is very difficult for average workers to exist in the large metro coastal cities. Their incomes are eaten up by rent. And forget owning, there is nothing affordable to buy either. Eventually we will probably see shortages of people to do 'average work' in these areas. Most of the people I have known who lived in these areas were forced out and moved elsewhere.
I agree with your premise of 'it's all about supply and demand'....but the link is from February of 2014.
As an example of how the market has changed......in February of 2014, WTI was at about $99 per barrel, and Brent was at about $109 per barrel. Now WTI is at about $43 per barrel, and Brent is at about $45 per barrel.
However, IMO, that drastic change proves your 'supply and demand' point even more because of what is now available at that price point.
There is now a modern 5 bedroom 3.5 bath 2400sf house for rent in Williston for $2395 per month listed on Craigslist, rather than the '700 square foot 1 bedroom' of 34 months ago from the link.
I don't like the way the TIME reporter sort of played loose with the implication in that the quotes were couched with the word 'area' in the link....rather than specifically referencing the actual cities. I know the rental markets have tightened in L.A. and NYC in the last 34 months. Just out of curiosity....to see if there would be any available...I plugged in those numbers for NYC and for L.A. on Craigslist. Re actual one bedroom apartments (not bedrooms in larger apartments) within city limits using at least 700sf, and the average rents from the article as the max, I only found 21 in L.A. (almost all in terrible areas) out of a list of 1089, and 9 in NYC (zero of those in Manhattan) out of a list of 2500.
I agree with your premise of 'it's all about supply and demand'....but the link is from February of 2014.
As an example of how the market has changed......in February of 2014, WTI was at about $99 per barrel, and Brent was at about $109 per barrel. Now WTI is at about $43 per barrel, and Brent is at about $45 per barrel.
However, IMO, that drastic change proves your 'supply and demand' point even more because of what is now available at that price point.
There is now a modern 5 bedroom 3.5 bath 2400sf house for rent in Williston for $2395 per month listed on Craigslist, rather than the '700 square foot 1 bedroom' of 34 months ago from the link.
I don't like the way the TIME reporter sort of played loose with the implication in that the quotes were couched with the word 'area' in the link....rather than specifically referencing the actual cities. I know the rental markets have tightened in L.A. and NYC in the last 34 months. Just out of curiosity....to see if there would be any available...I plugged in those numbers for NYC and for L.A. on Craigslist. Re actual one bedroom apartments (not bedrooms in larger apartments) within city limits using at least 700sf, and the average rents from the article as the max, I only found 21 in L.A. (almost all in terrible areas) out of a list of 1089, and 9 in NYC (zero of those in Manhattan) out of a list of 2500.
Craigslist generates a proportion of false positives when looking for rents below a specific dollar figure because a lot of people know how to game the search feature.
So you can get hits suggesting $5 rent and when you read the post, you discover that the monthly rent is actually $1995. The easiest and most common way to game CL is to express the rent in WEEKLY terms rather than MONTHLY terms. Another thing some people do is post short-term rental ads incorrectly in the 'apts' category - there's a separate category for short-term/temporary rentals.
So someone searching for rent $1000 and below will see posts for $500 or $800 apartments, only to discover that it's per week not per month.
It is very difficult for average workers to exist in the large metro coastal cities. Their incomes are eaten up by rent. And forget owning, there is nothing affordable to buy either. Eventually we will probably see shortages of people to do 'average work' in these areas. Most of the people I have known who lived in these areas were forced out and moved elsewhere.
I can see automation helping fill the shortage. That and people who work these jobs living 20 to an apartment.
In reply to the posts talking about homelessness, it exists everywhere. I grew up in a small town and there was this "tent village" off the side of the road in a wooded area. The church and the local food bank would often give items to them.
I don't understand why people want to live on Manhattan out of all places when living in NYC as its the most expensive borough in the city.
My cousins live in Queens and they take the subway to get to work on Manhattan everyday.
I have a friend who lives in Staten Island he takes the ferry to Manhattan everyday.
There are even New Yorkers who live here in Florida who may need to go to NYC for work maybe once a week and it's only a $80 flight.
Is there anything that would lead us to believe that the majority of the 60% live in Manhattan and not the outer boroughs?
I can definitely understand those who have a good salary, not have a lot of expenses, work long hours and value their free time choosing to live in Manhattan. Depending on how far out you live, it could be a difference of 1 1/2 to 2 hours commuting every day.
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