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Will and or are people leaving city? Yes. Is it all covid-19 related? Not exactly.
Right now for those who can manage right now is an excellent time to buy a home. Mortgage rates are hitting even below historical lows, and some sellers are highly motivated which is lowering prices.
Young single persons, transplants, etc... have already begun leaving for reasons of their own such as loss of job (temporary or permanent), fears over covid-19, etc... How many will return is anyone's guess, so is how many more will leave.
Many of the jobs young people used as side gigs to help pay their rent are closed temporarily due to PAUSE orders. OTOH a good number of places like bars, restaurants, etc... may not reopen at all. Those that do surely will resemble something different than pre-covid-19 for long as social distancing nonsense remains in vogue.
Now for all those cheering the loss of transplants or whatever need I remind some of you they (and their incomes) are what carry plenty of "real New Yorkers....".
All those new apartment buildings with "affordable/low income" lotteries need those willing to pay higher rent in order to carry those who cannot otherwise afford to live in such buildings.
If demand slows and or there is a reaction to high density then developers may not see any need in build larger than what they otherwise would. That means no affordable component may or will be necessary.
That Pathmark site on 125th which everyone thought was going to be some sort of luxury housing, now is going to be basically a tax payer office building.
Will and or are people leaving city? Yes. Is it all covid-19 related? Not exactly.
Right now for those who can manage right now is an excellent time to buy a home. Mortgage rates are hitting even below historical lows, and some sellers are highly motivated which is lowering prices.
Young single persons, transplants, etc... have already begun leaving for reasons of their own such as loss of job (temporary or permanent), fears over covid-19, etc... How many will return is anyone's guess, so is how many more will leave.
Many of the jobs young people used as side gigs to help pay their rent are closed temporarily due to PAUSE orders. OTOH a good number of places like bars, restaurants, etc... may not reopen at all. Those that do surely will resemble something different than pre-covid-19 for long as social distancing nonsense remains in vogue.
Now for all those cheering the loss of transplants or whatever need I remind some of you they (and their incomes) are what carry plenty of "real New Yorkers....".
All those new apartment buildings with "affordable/low income" lotteries need those willing to pay higher rent in order to carry those who cannot otherwise afford to live in such buildings.
If demand slows and or there is a reaction to high density then developers may not see any need in build larger than what they otherwise would. That means no affordable component may or will be necessary.
That Pathmark site on 125th which everyone thought was going to be some sort of luxury housing, now is going to be basically a tax payer office building.
I applaud your post. I am a New Yorker, but even I am getting the f out of here. I do not think it is interesting to live in this city when everything that made it a great, fun place is basically now gone and will be gone for good (maybe) or at least for a very long time. FACT.
What's so great about NYC without the bars, restaurants and so many other thousands of options that will be shut down for good maybe or at least for a long long long time for them to be safe? Plus, not even the subways are safe anymore and anyone who lives here knows that if you take away the convenience of the subway and public transportation everywhere and at all hours, there is NO POINT of being here unless you have very serious vested interests, which MOST normal people do not have.
Only DeBlasio worries more about prisoners, homeless people, than the police and taxpayers. The city will lose about 10% of resident taxpayers this year. The rich and elites will definitely file as part-time residents next tax year and NY and NYC will lose billions in tax revenue. There are rich people working out of their summer homes right now and they may not be back until this crisis is over which could be as long as 3 years.
Don’t forget the illegals.
Bizarre logic of freeing the prisoners yet arresting the social distance offenders.....and that stupid DeBlasio snitching hotline
I applaud your post. I am a New Yorker, but even I am getting the f out of here. I do not think it is interesting to live in this city when everything that made it a great, fun place is basically now gone and will be gone for good (maybe) or at least for a very long time. FACT.
What's so great about NYC without the bars, restaurants and so many other thousands of options that will be shut down for good maybe or at least for a long long long time for them to be safe? Plus, not even the subways are safe anymore and anyone who lives here knows that if you take away the convenience of the subway and public transportation everywhere and at all hours, there is NO POINT of being here unless you have very serious vested interests, which MOST normal people do not have.
Goodbye NYC.
So True. Even before this pandemic taking the subway was horrific. I made the mistake of taking the subway at 2am last year and the entire train had Homeless people sleeping everywhere.
This is such a tired argument. Anyone who has every worked from home on a regular basis for a long period of time knows that not only do you get more done, but you end working more hours. Productivity or lack of it rests solely with the employee. Has nothing to do with age. All of my key stakeholders are in Europe and China. Because of the time differences, we tag team deliverables. Works out just fine.
What's happening during the pandemic is somewhat irrelevant to what will happen after the pandemic. When the crisis is over, people who left will find themselves bored out of their minds in what they'll probably consider suburban purgatory (remember these are people who wanted to move to NYC in the first place), likely with second rate jobs, if they can even find them.
They'll come back, if they can afford to.
Quote:
Originally Posted by BugsyPal
Will and or are people leaving city? Yes. Is it all covid-19 related? Not exactly.
Right now for those who can manage right now is an excellent time to buy a home. Mortgage rates are hitting even below historical lows, and some sellers are highly motivated which is lowering prices.
Young single persons, transplants, etc... have already begun leaving for reasons of their own such as loss of job (temporary or permanent), fears over covid-19, etc... How many will return is anyone's guess, so is how many more will leave.
Many of the jobs young people used as side gigs to help pay their rent are closed temporarily due to PAUSE orders. OTOH a good number of places like bars, restaurants, etc... may not reopen at all. Those that do surely will resemble something different than pre-covid-19 for long as social distancing nonsense remains in vogue.
Now for all those cheering the loss of transplants or whatever need I remind some of you they (and their incomes) are what carry plenty of "real New Yorkers....".
All those new apartment buildings with "affordable/low income" lotteries need those willing to pay higher rent in order to carry those who cannot otherwise afford to live in such buildings.
If demand slows and or there is a reaction to high density then developers may not see any need in build larger than what they otherwise would. That means no affordable component may or will be necessary.
That Pathmark site on 125th which everyone thought was going to be some sort of luxury housing, now is going to be basically a tax payer office building.
Right. It’s up to the individual. But the blanket assumption that everyone who works from home is slacking off and eating bon bons all day, is outdated and wrong.
I applaud your post. I am a New Yorker, but even I am getting the f out of here. I do not think it is interesting to live in this city when everything that made it a great, fun place is basically now gone and will be gone for good (maybe) or at least for a very long time. FACT.
What's so great about NYC without the bars, restaurants and so many other thousands of options that will be shut down for good maybe or at least for a long long long time for them to be safe? Plus, not even the subways are safe anymore and anyone who lives here knows that if you take away the convenience of the subway and public transportation everywhere and at all hours, there is NO POINT of being here unless you have very serious vested interests, which MOST normal people do not have.
Goodbye NYC.
Lol, no. How many times has this been said about NYC?
It'll come back. Maybe not tomorrow, next week, next month, or even next year. But it'll be back, and it'll be better than ever. Bet on that.
Never understood the purported allure of Manhattan. People jammed together like sardines, paying a fortune to live in a three-hundred square foot box with no washer/dryer, no view, no balcony, no outdoor/outside space to call your own. Four paper-thin walls and a flimsy door is your entire universe. The rest of the country has a term for this living arrangement: prison.
Who are these people who wanted to ride in filthy subways as morbidly obese sweatmachines press up against you? We now know the Manhattan subways were virus-plagued illness vectors; if riding around in virus-spreading deathboxes is your idea of culture, have at it.
Everything about New York City, in particular, aids the spread of this pathogen. This includes the dirty and crammed public transportation systems, vertical residential and commercial living which all but ensures you are sharing elevator, work and living space with coronavirus superspreaders, having to share washers and dryers in dungeonlike basements which foster infection like terrariums, too many people with too little space on streets and sidewalks.
The cherry on top is the truly outrageous costs and fees for this Manhattan "lifestyle" (read: pauper's existence). Exorbitant taxes. Filthy apartments. Filthy streets. Rat-and-roach-infested restaurants and subways. No fresh air, no fresh water, no peace, no quiet. Constant noise pollution and aggravation (sirens, construction, your annoying neighbors). Who in the heck wants this? One group that says no: the wealthy and mobile, who totally abandoned Manhattan faster than you can say, "get out now."
In the coming years, Manhattan is going to resemble Pripyat, the ghost city contained within the Chernobyl exclusion zone. SARS-CoV-2 is this city's neutron bomb. Entire business sectors are going to be wiped out and will never, ever come back, because NYC's business model of pack 'em in, charge 'em, get them out, is utterly decimated.
So-called "workshare" spaces: dead. Let's see how NYC finances and the commercial property owners fare when WeWork's short-term renters never, ever come back. Skittish short-term renters will annihilate the business model. WeWork will declare bankruptcy, and the entire financing scheme will soon implode (WeWork is Manhattan's biggest tenant by far). Colony Capital just defaulted on a metric f***ton of debt. Watch the defaults pile up and bankruptcies skyrocket as lenders refuse to roll this impaired paper.
Bottom line, NYC always was a terrible place to live, because zero nature + no space = Hades. Coronavirus has painted in stark relief all of these truths. Those who perceive and understand are out, forever.
This is pure truth. Why does anyone live in these sardine can large urban centers by choice? It's like a large submarine.
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