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There are loads of reasons the population is located in cities ..
Take nyc , we are the unskilled worker Mecca of the country .
No car needed as we have a huge public transportation system
Loads of unskilled labor jobs avail
We have ethnic neighborhoods where one can live within their own
We have loads of subsidies , welfare programs , rent stabilization, etc.
So there is a lot offered to the unskilled .
On the other hand we have what interests more skilled workers .
We have loads of high paying jobs , the arts , restaurants, the theater , museums and a life style that can be incredible.
So there are loads of reasons people flock here .
Always remember real estate isn’t high in a vacuum ..it is high because the area is in demand and usually the area is in demand because it’s is close to the higher paying jobs .
Unless you are a tourist area where people flock to beaches or something that makes the area popular , it is all about the jobs.
I have a friend who retired from the Long Island police dept in Suffolk county ..his pension is 130k a year , likely more now with the colas the last few years
MJ while everything you say is true NYC is 2.5% of the entire US population. So, 97.5% of Americans have a different perspective.
Not exactly the case .
Actually america is 1500 separate mini economies …..so america has a vastly different perspective depending which mini economy you are in and what is going on there…
83% of the population lives in cities so that is another perspective..
Much of what I said about ny applies to other cities too .
82% of the population lives on the coasts on only 57% of the land mass . So there is another perspective
Only 17% of the population lives in flyover country so chalk up another perspective there .
So to say 98% of America has a different view is not really going to be the case
So It isn’t based on the population of any one area
you have perspectives all over the place that may agree on some things and disagree on others
Last edited by mathjak107; 12-10-2022 at 04:21 PM..
Some interesting data is that there are cities all over the country that have more renters then owners
US Cities With The Most Renters
1. New Haven, Connecticut - Percentage of renters: 71.4
2. Brooklyn, New York - Percentage of renters: 70.4
3. Miami, Florida - Percentage of renters: 68.7
4. New York, New York -Percentage of renters: 68.0
5. College Station, Texas - Percentage of renters: 67.1
6. Boston, Massachusetts - Percentage of renters: 66.4
7. Glendale, California - Percentage of renters: 65.9
8. Providence, Rhode Island - Percentage of renters: 64.5
9. Orlando, Florida - Percentage of renters: 64.3
10. Inglewood, California - Percentage of renters: 64.3
Why do many places have more renters ?
“Population density and rates of renters.
Given research demonstrates a correlation between population density and higher real estate prices relative to median household income, it stands to reason that the cities with the most renters would also be some of the most densely populated metropolitan areas in the United States. In fact, nine out of the twenty cities with the most renters rank within the top 60 most densely populated, including New York City, San Francisco, and Miami.
Regional differences. The twenty cities with the highest proportion of renters are located on both coasts and in the south, while cities from the Mountain States are absent, and only one hails from the Midwest.”
Some interesting data is that there are cities all over the country that have more renters then owners ....
This is true for any big, expensive city with a large foreign-born population. The latter point is critical. Why? Because America has a culture of particular veneration for owner-occupied real estate. People hailing from communities where land was mostly owned by the government, the church, the nobility, the mobsters, the oligarchs, the well-connected and so on, aren't going to have such yearning to buy houses.
I've been singling-out New York and Los Angeles, not only because they're large and real estate is costly, but because so many persons living in those cities hail from somewhere else. And so many were not born in America. Transplanted people, whether immigrants or domestic transplants, are more likely to rent. So are people who move to NYC to work on Wall Street but then 5-10 years later go join a lobbying firm in DC, or a start-up in Palo Alto. If I'm only going to be spending a few years at Goldman Sachs, why should I buy a condo, even if I earn $600K/year and get a 7-figure bonus? But if I were born and raised in Syracuse, where my father and my grandfather before him ran the family-business, then of course I'm going to buy a house!
One of my BIL's always lived in Ridgefield Connecticut. For decades he had an apartment in the city. Big wig marketing and communications guy.... ... he commuted by train -- his big house on an acre or two, drive by the lakes with the swans... ...wife and kids not going into the city with him... cabin in NH on the lake... So, I guess his apartment in the city is counted in there somewhere. . but, it's where he worked, not where he lived.
I can see how some rich people are plenty happy in the city. Most Americans don't make enough money to make use of all a city has to offer.
One of my BIL's always lived in Ridgefield Connecticut. For decades he had an apartment in the city. Big wig marketing and communications guy.... ... he commuted by train -- his big house on an acre or two, drive by the lakes with the swans... ...wife and kids not going into the city with him... cabin in NH on the lake... So, I guess his apartment in the city is counted in there somewhere. . but, it's where he worked, not where he lived.
I can see how some rich people are plenty happy in the city. Most Americans don't make enough money to make use of all a city has to offer.
Most Americans can’t afford to live in the main hustle and bustle areas of major cities .
Manhattan is filled with people daily , but only 1.7 million actually live there ..the bulk live outside manhattan in The boroughs as they are called which are the suburbs of nyc..
Nyc has almost 9 million people , yet few live in manhattan
Brooklyn, queens , the bronx and states island are all considered suburbs of manhattan .
That's the first time I've ever heard that. I hear of NYC suburbs, but I have never heard of one or more boroughs of NYC being considered a suburb of another NYC borough.
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That's the first time I've ever heard that. I hear of NYC suburbs, but I have never heard of one or more boroughs of NYC being considered a suburb of another NYC borough.
