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New York City still boasted six of the nation's most expensive ZIP codes.
Take a look at this year’s list of the most expensive Zip codes in America and you’ll notice something surprising. Manhattan is nowhere to be found.
In fact, not a single New York City Zip code was ranked among the nation’s 20 priciest, according to a new report from Property Shark (h/t Barron’s). The real estate data firm has been publishing an annual rankings of the nation’s most expensive Zip codes since 2016, and this is the first time Manhattan hasn’t been represented near the top of the list.
The borough may have missed out on the top 20 in part because the luxury real estate market is booming nationwide. The 10 most expensive Zip codes all have a median house price of over $4 million for the first time, according to the report, which tracks residential transactions closed between Jan. 1 and Oct. 22 of this year. Meanwhile, the top 30 Zip codes all have median home prices in excess of $3 million, another first.
Well BLM basically owns Manhattan. Last year has shown that prosecutors won't do anything to clean them out like the pests they are. Now, we have a DA, Alvin Bragg, that openly sympathizes with them and has publically declared he won't do anything about them.
If I were CEO of a company based in Manhattan (which I never will be), I would just bail on NYC.
EDIT: Bad pun intended because of bad bail-reform law.
The tech industry has become an increasingly large component of the US economy and concentrates a lot of wealth and capital. New York City and the Tri-State Area is a solid, but second-tier hub in the tech industry and this is more or less a reflection of that. This move on the list has been happening pre-pandemic (or pre-BLM, which I find highly doubtful has anything close to a first order effect), though I think somewhat exasperated during the pandemic by a panic over particularly dense urban living which would probably stabilize in the very near term, but won't offset the shift towards the primary tech hub in the US in the, uh, middle term.
Well BLM basically owns Manhattan. Last year has shown that prosecutors won't do anything to clean them out like the pests they are. Now, we have a DA, Alvin Bragg, that openly sympathizes with them and has publically declared he won't do anything about them.
If I were CEO of a company based in Manhattan (which I never will be), I would just bail on NYC.
EDIT: Bad pun intended because of bad bail-reform law.
This stuff doesn't help, but California is gobbling up "most expensive zip codes" and their cities are even worse than here, particularly the SF Bay Area which is apparently 37% of the list.
This stuff doesn't help, but California is gobbling up "most expensive zip codes" and their cities are even worse than here, particularly the SF Bay Area which is apparently 37% of the list.
NYC is cheaper than San Diego right now. I am pretty sure I will need to move back to NYC within the year...to save money
New York City is largely rental housing, and while Manhattan has seen an uptick in luxury condo development you still have tons of average places which bring down median sales average.
It is same across all five boroughs. For every Brooklyn townhouse or mansion that sells for $4 or so million, you have another property that barely breaks one million.
That is how averages work...
Other parts of country or world have larger areas where median sales prices for homes are consistently "high". Without any bottom feeding properties to drag down averages, you get overall higher median prices.
Consider yourself fortunate if you can find a young realtor starting out
who has not tasted money or an old wealthy realtor who has already
attained the lion's share and now attempting to give back because a
feeding frenzy remains in the rest of the shark tank and you will only be
eaten up alive.
The goal posts are always moving towards higher prices as the city continues to
take in hundreds of thousands of people scrambling to find jobs and housing and to
eventually compete in a cut throat market to rent or own. Supply and demand and they
know it.
Is it no wonder why those who have taken off the blinders and realized that they
can compete remotely have left for a more comfortable and rewarding life rather than
stay and be duped.
Get kicked in the pants enough of times and you eventually learn to move out of the way............
New York City is largely rental housing, and while Manhattan has seen an uptick in luxury condo development you still have tons of average places which bring down median sales average.
It is same across all five boroughs. For every Brooklyn townhouse or mansion that sells for $4 or so million, you have another property that barely breaks one million.
That is how averages work...
Other parts of country or world have larger areas where median sales prices for homes are consistently "high". Without any bottom feeding properties to drag down averages, you get overall higher median prices.
Right, and even the top zipcodes in NYC have a ton of housing that is far from luxurious. If you look at the top for NYC proper, 10013 includes significant parts of the old housing stock of Chinatown and Little Italy that are often heavily subdivided--split that out to just west of Broadway and you'd likely top the #2 prudential center area in Back Bay, Boston and still with a lot more people and land area covered. Comparing these to the small Bay Area suburb of Atherton is going to be pretty awkward since Atherton has a much smaller population, whose housing stock is almost exclusively fairly large SFHs, and where the median income is a quarter million and likely actual earnings is far higher since at the higher levels for VCs and tech workers, income is usually a minority of one's total compensation package with income being a rounding error in comparison.
Last edited by OyCrumbler; 11-15-2021 at 10:39 AM..
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