Why Manhattan’s Skyscrapers Are Empty
theatlantic.com/ideas/archive/2020/01/america...
theatlantic.comPosted Jan 21, 2020, 1:28 PM UTC
3811
theatlantic.comCan’t wait until this is spun into “Millenials Doom the Luxury Housing Market - Economists unclear why millenials choose to live with housemates at increasing rates.”
11
Or the “tiny homes are the next big housing fad - those nutty millennials are at it again!” articles.
If decades of savings is needed to cover the downpayment on a real house, then of course some people are going to be looking for a tenth of a house for a tenth the price pretty seriously.
11
Lol, can’t wait for Bernie to nationalize that shit and hand it out to us at fair rent, like no more than 10% of our paycheck.
8
This could have been written about any number of cities in the developed world. London is full of these ghost towers but local politicians and planners are so enthralled by luxury developers and dirty money coming in from overseas "investors" that they're springing up all over the place, never to be inhabited and usually replacing someone's actual home or business.
It scares the shit out of me.
7
I was told a relative of my wife spends $6,000 a month on rent on some place in NYC. I don't know how expensive the area is for real and couldn't you buy a house in the suburbs/commuting distance, or even say NJ or CT and the mortgage payment be about that much or less? Doesn't have to be a great house mind you but just one period.
I know and don't think I'm getting the whole story though.
4
bluelining? isn't that just a fancy new word for gentrification?
3
New York 2020 Election
Primary Election Party Affiliation Deadline: February 14, 2020
Primary Election Voter Registration Deadline: April 3, 2020
Primary Election: April 28, 2020
General Election Registration Deadline: October 9, 2020
General Election: November 3, 2020
1
Every house or apartment I’ve ever lived in in my life was built before I was born. While that wasn’t particularly noteworthy in my childhood, it becomes more noticeable as I creep ever closer to forty.
I can’t afford the housing that’s being built today, so I live in a tiny post-war bungalow almost twice as old as I am, a step up from the tiny apartment that I was in before that was only very slightly younger.
Look at this rich guy who can afford a house! The tiny post war bungalows near me are still atleast 350-450k lmao
Oh, I don’t own it. I rent it for about half my take home pay.
The base of the house I live in was made in 1865. Kind of wild when you think about it.