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Notice that this is an old thread. That plan has been discussed on/off for years. The new Metro North stations in the Bronx were supposed to be functional in 2023, and I had watched the plan with enthusiasm for a while - however, pretty much nothing has happened with it over many years. I am not sure any more that this Metro North extension will be built (see other threads about diminishing tax revenues).
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It's past just discussion, though. I know people who are working on the preliminary design. That doesn't mean it can't be stopped, but it appears they are moving forward in anticipation of getting the funding.
The article talks about allocated amounts of money, but it does not say that the money actually exists right now. So, I assume the article is talking about the amounts of future tax collections that will be allocated to this project. It looks to me like allocation of hoped-for money, not money that is actually available. We'll see how that goes. I simply no longer believe that NYC is on any kind of good trajectory, including financial feasibility of this plan.
You should probably sell your place in Parkchester immediately no matter what the bid is.
Why? It works okay as a crashpad, transportation is adequate as it is for occasional visits to NYC.
Well, since you think the city is heading in a very bad direction, then it's probably wise to cash out of your place sooner rather than later, no?
Quote:
Originally Posted by BlakeJones
They're spending the congestion pricing money before they collect any of it
Sort of like how loans and bonds work. I think it's okay as long as they spend based on what the most conservative estimate of revenue raised is, but I doubt that's how it'll work out.
Well, since you think the city is heading in a very bad direction, then it's probably wise to cash out of your place sooner rather than later, no?
I think it would be a bad idea for a person like me to move to NYC as a NYC resident/taxpayer. I don't expect quality of life in Parkchester to deteriorate, though, even as NYC slides economically: it has been attracting one type of good crowd (ie, poor but nevertheless self-supporting immigrants), and I believe that type will continue moving into Parkchester to the point where they will become the absolute majority in the condo complex . Prices in Parkchester have been stagnant, will continue to stagnate, but I did not buy in Parkchester in order to make money out of it, just to have a cheap basic foothold in NYC. I still want that, for at least as long as I keep my primary residence in Boston (a city which I don't like and from which I"d like to escape periodically when I am on the East Coast). There are multiple reasons why I must stay domiciled in Boston for several more years, and I'll keep Parkchester for as long as I have to be in Boston.
As I said many times, Parkchester is great architecturally, plus my unit is in the absolute best (I think) location in the complex, so it's kind of not a straight-forward decision to get rid of it, particularly because it is fairly cheap to maintain, and because I have no idea how would the sale of Parkchester benefit me financially right now (my retirement income is all set, without any expected additional needs, for at least next 20 years).Since it would be unwieldy to.deal with more financial instruments (ie, I'll be 60 in a few months, and don't want to make any more investments), the small proceeds of Parkchester sale would just sit in a bank account, getting eaten by inflation, gaining nothing in the long run compared with the psychologic gain of having a crashpad for periodic change of scenery.
Incidentally, I am still searching for a convenient place to lock up all my books, audiovisuals and memorabilia during the months when I am traveling. My primary home will be in San Francisco after I finally get out of Boston, but I don't want to store my stuff in San Francisco (foggy humidity/mold, earthquakes). The requirements include reasonable safety from natural hazards, safety from breaking & entering (and of course from violent crime), easy access to a major airport by public transportation, and a sane local/state government that will not tax me out of my mind in order to support/attract massive amounts of crime & grime all around me. Current possibilities are Montreal (Canada), Pittsburgh PA, and Santa Fe/ABQ NM - I would welcome any other good ideas :-).
I think it would be a bad idea for a person like me to move to NYC as a NYC resident/taxpayer. I don't expect quality of life in Parkchester to deteriorate, though, even as NYC slides economically: it has been attracting one type of good crowd (ie, poor but nevertheless self-supporting immigrants), and I believe that type will continue moving into Parkchester to the point where they will become the absolute majority in the condo complex . Prices in Parkchester have been stagnant, will continue to stagnate, but I did not buy in Parkchester in order to make money out of it, just to have a cheap basic foothold in NYC. I still want that, for at least as long as I keep my primary residence in Boston (a city which I don't like and from which I"d like to escape periodically when I am on the East Coast). There are multiple reasons why I must stay domiciled in Boston for several more years, and I'll keep Parkchester for as long as I have to be in Boston.
As I said many times, Parkchester is great architecturally, plus my unit is in the absolute best (I think) location in the complex, so it's kind of not a straight-forward decision to get rid of it, particularly because it is fairly cheap to maintain, and because I have no idea how would the sale of Parkchester benefit me financially right now (my retirement income is all set, without any expected additional needs, for at least next 20 years).Since it would be unwieldy to.deal with more financial instruments (ie, I'll be 60 in a few months, and don't want to make any more investments), the small proceeds of Parkchester sale would just sit in a bank account, getting eaten by inflation, gaining nothing in the long run compared with the psychologic gain of having a crashpad for periodic change of scenery.
I need to start betting on your posts. If I had a $1 for every time you mentioned Parkchester...
Notice that OyCrumbler asked me a question regarding Parkchester, and I answered it. I was not the first to mention Parkchester in this thread (or in many other threads). In fact, this thread went for four pages several years ago without any of my participatiin. But yeah, if you did bet, you would have had about $1,500 by now:-). So what?
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