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Mafia Off Season Thread

NYC’s housing market also suffers from it being a globally attractive city. You have rich people who park money in real estate in global capitals like NYC, London, Dubai, and Singapore. They buy for prestige and political security. After all, it’s highly unlikely that all of the cities have a revolution at the same time.

In addition to the global elite, NYC has also been one of the preeminent centers of real estate based money laundering. These people really don’t care about ROI because they’re trying to cleanse money, not make more of it.

Both of these groups couldn’t care less about living in their properties and, typically, don’t bother to rent them out. Instead, they push up the sales prices for the market, while creating fake housing supply.
 
Obvious wealth disparity and plight of the homeless aside, Country mouse mako can’t even begin to fathom why people choose to live in cities, much less pay a billion dollars to do so.
 
NYC’s housing market also suffers from it being a globally attractive city. You have rich people who park money in real estate in global capitals like NYC, London, Dubai, and Singapore. They buy for prestige and political security. After all, it’s highly unlikely that all of the cities have a revolution at the same time.

In addition to the global elite, NYC has also been one of the preeminent centers of real estate based money laundering. These people really don’t care about ROI because they’re trying to cleanse money, not make more of it.

Both of these groups couldn’t care less about living in their properties and, typically, don’t bother to rent them out. Instead, they push up the sales prices for the market, while creating fake housing supply.

totally

housing as a commodity instead of housing as shelter/home
 
Obvious wealth disparity and plight of the homeless aside, Country mouse mako can’t even begin to fathom why people choose to live in cities, much less pay a billion dollars to do so.

i'm a city guy, though the idea of living outside the city for a significant portion of the year has gotten increasingly appealing

I just love the access to food, music, art, culture, so many different kinds of people, sports, beaches, and so on that are all within 30 minutes of me
 
i'm a city guy, though the idea of living outside the city for a significant portion of the year has gotten increasingly appealing

I just love the access to food, music, art, culture, so many different kinds of people, sports, beaches, and so on that are all within 30 minutes of me


I can see that. I guess I have lower expectations on food(although we do have a couple of pretty solid restaurants relatively close) and music and culture for woods, mountain sunsets, and rivers that you can swim in. Plus, regardless of how amiable I am as a poster, I’ve found that I’ve gotten crankier as I’ve aged. I don’t really care for most people.
 
living in Cookeville, Tennessee was fun for about a year and then I had to get back to an actual city.

lucky to pay p much what I paid then for the same size apt here in Pittsburgh. building is a little older but not much difference otherwise.

that said, looking at 150k homes nearby because I'm tired of throwing money at landlords.
 
couldn't do that without the partner employed though because grad students don't exactly have proof of income for financing options. another great thing about being a grad student.
 
totally

housing as a commodity instead of housing as shelter/home

Interestingly, moving from Singapore to NYC showed me just how much the two cities have in common when it comes to external influences on housing prices. In Singapore, wealthy Chinese, Indians, and Indonesians buy super-premium condos in buildings with 25% occupancy, while most Singaporeans struggle to get by in their ever more expensive government subsidized housing.

The governments in both places have tried different measures to create more affordable housing, but neither has really worked well. Singapore probably does a better job of it, but not by a whole lot. The allure of being a safe haven for money (legal and illegal) just puts so much pressure on a market.
 
Interestingly, moving from Singapore to NYC showed me just how much the two cities have in common when it comes to external influences on housing prices. In Singapore, wealthy Chinese, Indians, and Indonesians buy super-premium condos in buildings with 25% occupancy, while most Singaporeans struggle to get by in their ever more expensive government subsidized housing.

The governments in both places have tried different measures to create more affordable housing, but neither has really worked well. Singapore probably does a better job of it, but not by a whole lot. The allure of being a safe haven for money (legal and illegal) just puts so much pressure on a market.

This may be the correction NYC needs to make it so middle class can afford to live in the city. Rents in my building are down 22% since March - thats not really enough, but can only help. The issue is at least 50% of people I know or have talked to about this say they are either definitely or debating about moving out of the city. I am guessing that means even more of a correction. But, it was needed - the housing market in NYC has been sort of stagnating for a bit, but the rental prices continued to skyrocket. Assume this will flip that.
 
living in Cookeville, Tennessee was fun for about a year and then I had to get back to an actual city.

lucky to pay p much what I paid then for the same size apt here in Pittsburgh. building is a little older but not much difference otherwise.

that said, looking at 150k homes nearby because I'm tired of throwing money at landlords.

Did you just use Pittsburgh and "actual city" in the same thought-dump?
 
I can see that. I guess I have lower expectations on food(although we do have a couple of pretty solid restaurants relatively close) and music and culture for woods, mountain sunsets, and rivers that you can swim in. Plus, regardless of how amiable I am as a poster, I’ve found that I’ve gotten crankier as I’ve aged. I don’t really care for most people.

I generally agree - I had never lived in a city until I was 32. I had visited plenty of times, and seemed cool, but had no idea - it sort of changes your whole outlook. I mean, deer skinning or whatever, is generally frowned upon in public places, but the restaurants, music, events and everything you can do being at your fingertips is amazing - almost to the point that you feel bad for staying in after work or on the weekend. I am a huge sports fan, so I end up at random sporting events all the time - if its 3 PM on a Thursday and I can get Yankees tickets for cheap, I go. If its a saturday afternoon and I have nothing better to do, I can go to an NYCFC game for cheap. I went to the XFL games over in the Meadowlands. Those are things I could never do in any place I lived in before. Half the stuff I used to do on "vacation" i could do any time I want.

I may be in the minority, but I loved living in Philadelphia - its such a compact city and everything is walkable within 30ish minutes. Its almost like Brooklyn, except with a somehow worse accent.
 
Well. You city slickers be careful if you run into a man with a switchblade, especially if you have 43 dollars in your pocket.
 
What kind of nerd stuff am I supposed to talk about?

Can I talk about beer? Gypsy Road in K-Vegas has a real good pastry stout called Oh, R-E-O.
 
Well. You city slickers be careful if you run into a man with a switchblade, especially if you have 43 dollars in your pocket.

The crime stuff is pretty low if you stay away from the bad areas. It still happens, but it isn't as prevalent as you think in most areas you go to - I haven't had any issues outside of a dude who took my phone off my table at an outside restaurant once, but that is because my kid had it and left it on a table 20 feet from us that no one was at - thats a longer story and more my fault. There are pick pockets and stuff, but thats mainly in the touristy area and only if you are being stupid with your stuff.
 
Goddamn, people. Is there no one here with even a casual knowledge of Hank Williams Jr?

I definitely should’ve lived in a city for a bit when I was younger.
 
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