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In many asian cities, 1 million dollars can only buy you a studio or one-bedroom in a run down area. and people in those cities earn 10% of what NYers are making.
Most immigrants came to this city with nothing. they work and save and buy those houses. while the native NYers are complaining the high cost and waste money on unnecessary items. Look at the fancy cars and iphones of the same people who cry they cannot afford housing. just a shame
You make a valid point.
I always had a hard time understanding how people easily displace their priorities.
You can't afford the rent but you can afford to eat out everyday?
You can't afford to buy a car but you can afford to by the top of the line clothing ,footwear and gadgets
from computers to mobile phones..................Someone.....please pinch me.......
In many asian cities, 1 million dollars can only buy you a studio or one-bedroom in a run down area. and people in those cities earn 10% of what NYers are making.
Most immigrants came to this city with nothing. they work and save and buy those houses. while the native NYers are complaining the high cost and waste money on unnecessary items. Look at the fancy cars and iphones of the same people who cry they cannot afford housing. just a shame
It's already here, Asian towns in NYC are already charging as much or more for the busiest part of the areas. Now why would any blue blood American want to live in the busiest, loudest, and filthiest part of NYC and pay over $1mil for a 2-3 bedroom is very mind boggling. The craziest thing some of the people living in those places are not the most civil, educated, or the richest in terms of net worth.
It's already here, Asian towns in NYC are already charging as much or more for the busiest part of the areas. Now why would any blue blood American want to live in the busiest, loudest, and filthiest part of NYC and pay over $1mil for a 2-3 bedroom is very mind boggling. The craziest thing some of the people living in those places are not the most civil, educated, or the richest in terms of net worth.
That's the point, they're overpaying for these houses to make the neighborhood theirs. Who is gonna pay 1 million dollars for a house in Bensonhurst besides the Chinese?
Who wants to pay for one bedroom for over a million in Williamsburg except hipsters? Your question is really funny. Real estate price is not determined by you but by the market. Manhattan price is not determined by locals but by foreigners
Quote:
Originally Posted by Foamposite
That's the point, they're overpaying for these houses to make the neighborhood theirs. Who is gonna pay 1 million dollars for a house in Bensonhurst besides the Chinese?
Who wants to pay for one bedroom for over a million in Williamsburg except hipsters? Your question is really funny. Real estate price is not determined by you but by the market. Manhattan price is not determined by locals but by foreigners
I would much rather live in Williamsburg than Flushing. The demands of different neighborhoods are driven by different groups.
Real estate price is not determined by you but by the market. Manhattan price is not determined by locals but by foreigners
This is what I am thinking. It can be narrowed down to foreign investors who have so much shady money and they need to hide it in NYC real estate. It is unusual that things are set up this way that cater to migrants because saving to buy a property in NYC is not so much about only buying a refurbished iPhone and only eating out twice per week instead of twice per month. It's just a system that was rigged against USA citizens and then tilted out of everyones favor (minus the "Baby Boomers"). Meanwhile, more illegals move here and more US nationals have to leave.
The feds cracked down on the dirty cash market. It's probably one of the big reasons the high end of the market slowed down.
Quote:
Originally Posted by propman-nyc
This is what I am thinking. It can be narrowed down to foreign investors who have so much shady money and they need to hide it in NYC real estate. It is unusual that things are set up this way that cater to migrants because saving to buy a property in NYC is not so much about only buying a refurbished iPhone and only eating out twice per week instead of twice per month. It's just a system that was rigged against USA citizens and then tilted out of everyones favor (minus the "Baby Boomers"). Meanwhile, more illegals move here and more US nationals have to leave.
of course, Flushing is not attractive for any non-Asians at this price. Still you cannot say it is overpriced. because there are plenty of asians who are interested in there. and Asians got money.
Quote:
Originally Posted by Foamposite
I would much rather live in Williamsburg than Flushing. The demands of different neighborhoods are driven by different groups.
People keep thinking that immigrant neighborhoods in the city are overpriced. that's is just ridiculous. These neighborhoods are underpriced. The population increase in NYC is driven by immigrants. Those white neighborhoods in burbs are the ones being overpriced. People are just fleeing those neighborhoods.
People keep thinking that immigrant neighborhoods in the city are overpriced. that's is just ridiculous. These neighborhoods are underpriced. The population increase in NYC is driven by immigrants. Those white neighborhoods in burbs are the ones being overpriced. People are just fleeing those neighborhoods.
By your logic, nothing is overprived or undepriced
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