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Facts. New Yorkers have a love/hate relationship with the MTA. Hate it (at times, neutral at best) but can't live without it. It's still the quickest and cheapest way to get from point A to point B. They just have to get a handle on the current increase in crime ("perception" or not).
I kid you not. Every day I get an alert saying something has happened on the subway. From attacks to some fool lying down on the tracks (shutting off the entire line) and refusing to get up from his nap.
Yup it's true.
Also to note that people think ridership is down just due to people working from home. That plays a part but plenty are opting to take Ubers instead of dealing with the train. From unreliable service to crimes to the mentally ill are all reasons. This morning at 5 am a mental Ill men started causing trouble on my train. Actually last night home too. They had to hold the train for a while and get another mentally ill man off the train before it could proceed. Everyday is a true adventure on the train.
Also to note that people think ridership is down just due to people working from home.
And some of the people working from home are actually at home within the boundaries of NYC, as in the boroughs. So some of that remote money still gets spent within the city. And people are still doing cross-borough commuting even if they don't go to Manhattan.
Ok so if they do that will you be my personal driver? I pay $2.75 each ride.
( Sarcasm )
First quarter mile. $2.75
Anything after is a buck a block.
In addition $20 bucks to pick you up.
Tolls not included.
Remember, I am not state or federally subsidized.
Someone's got to pay for my expenses..............................
And some of the people working from home are actually at home within the boundaries of NYC, as in the boroughs. So some of that remote money still gets spent within the city. And people are still doing cross-borough commuting even if they don't go to Manhattan.
A few of my Staten Islander neighbors now Work From Home. And they all love it. Getting up 60 to 90 minutes later, no more sitting in traffic on the Gowanus. The Hylan Blvd. express bus stop near my house has fewer passengers in the morning than I have ever seen. And fewer getting off the express buses in the evening too. All this tells me that a significant number of Staten Islanders are happily doing WFH.
Au contraire - REITS will boom because individual home ownership is becoming impractical and in the case of NYC, unachievable.
Much easier to own 1% of an overpriced Loft than 100%!
Sales of 1-family and 2-family homes in the outer boroughs were stable during the pandemic and are rebounding. New 2-family homes on S.I. sell in the $900K+ range in east shore and south shore neighborhoods. 1-family resales sell in the $600K+ range, 2-family resales in the $800k+ range.
Au contraire - REITS will boom because individual home ownership is becoming impractical and in the case of NYC, unachievable.
Much easier to own 1% of an overpriced Loft than 100%!
I'd rather put my money in stocks, ETFs and perhaps even some Options contracts before considering REITs, especially in this market. The whole industry is going through a revolution of sorts. Too early to predict where either.
Quote:
Originally Posted by dfc99
A few of my Staten Islander neighbors now Work From Home. And they all love it. Getting up 60 to 90 minutes later, no more sitting in traffic on the Gowanus. The Hylan Blvd. express bus stop near my house has fewer passengers in the morning than I have ever seen. And fewer getting off the express buses in the evening too. All this tells me that a significant number of Staten Islanders are happily doing WFH.
Same in my area. The express buses aren't nearly as crowded.
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