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Wonder how long it will take before asking prices on condos and coops in the city start to come down.
I dunno, as long as people somewhere are making money they will show up with briefcases of Cash to buy stuff up. I got in after the 2008 crisis, but it wasn't like a 'steal' even.
This is different though, obviously. IT's not an economic thing but a 'omg, virus' thrive in congested dirty places' thing. And NYC will always be dirty and congested, lol.
That said, I did move out last Fall to Westchester , my son turned 3 and we desperatelly needed the space, but rent out my old pad in Midtown. I still love the city and want to come back despite all this. I mean, contingent on things cooling off and a better handling of Pandemics.
NYC has it all and so much business and entertainment and arts are ingrained there that I don't see that stuff leaving anytime soon. It would take a long time and a huge world altering change in social telecommunications.
And even then,..it won't just be an empty island. People will still find their way there, maybe not the Rockefellers, I'm talking immigrants and people who can now afford it. A new culture will evolve. A new punk, beatnik. Buskers. That would be something to see.
You just can’t fathom that there’s actually people who see the faults of this place and are no longer enamored by it’s fake gleam. This pandemic has exposed its faults bare for the world to see. Deny it all you want, I couldn’t care less.
Wonder how long it will take before asking prices on condos and coops in the city start to come down.
I live in a condo building on Staten Island...someone I know in the building was asking if I would be interested in purchasing her condo (I currently rent). She admitted she overpaid..but I was stunned when I saw it, it’s a tiny one bedroom, hardly any closet space and she paid over 310,000. I said uh no thanks lol.
* Young families who were considering moves to the suburbs have been given the push they need, real estate experts say
* Singletons who can now work remotely from anywhere are also eyeing less expensive cities with better weather
* One real estate business told DailyMail.com they receive 'hundreds' of inquiries a week from people trying to
leave
*It raises questions of how the city's tax income will be affected by an exodus
*It is unclear how and when the city will reopen and which businesses will even be able to open their doors again after weeks with no income
Wonder if this well help the cost of living in NYC decrease and make it more affordable for normal people? If AOC didn't run Amazon away the city would still be able to benefit from having all those new jobs available soon
Of course we are! I've been mentioning this in another thread and most people agree that there is NO GOOD REASON to remain in NYC IF, and that is a big IF, for the foreseeable future life remains as it is now. Why would I want to pay an outrageous price to live here if moving forward I will not be able to enjoy the perks? Everything that made this city interesting or fun (from my perspective) is gone now and won't be coming back for a very, very long time...too far ahead that I am in no way willing to wait that long. It's just not worth it. I had been debating to myself leaving NYC for ages and I did that years ago, lived in many different countries but then came back. Things were OK, but this was never a comfortable city to live in, let alone now with the mix of luxury prices plus overcrowded, sub par housing for the price you pay, etc, etc...all other inconveniences have been mentioned in this thread. I can't wait for this house arrest to be over and I am definitely getting out of Dodge. I'd rather be bored and poor (if it comes to that) anywhere else that at least will have nature, fewer crowds and a more sustainable cost of living. Even before the pandemic, I did not really do the things most New Yorkers love to do. Not a restaurant person, not a concert goer, not a theater or museum lover, and don't really enjoy crowds anyway. I did enjoy the convenience of corner shops, not having to drive, and some bars here and there...but all that is gone for a very long time.
What kept me here was the fact that I had a decent paying (but precarious without any healthcare or any other benefits) job doing something I love. Yesterday was my last day of work since the next semester is in the air. So, now I don't even have a job moving forward here and will venture out to greener pastures.
I'm not even going to get into the impending social issues vs safety, crime, etc. When you add up all these negative points, I can only come to one conclusion: I want to leave.
As long as maybe half the restaurants reopen within the year, even if only for takeout and delivery, and more replace the ones that close, I think I’d be pretty happy. It’s probably my favorite among US cities and I’ve lived in or done extended stays all over from suburbs, to exurbs, to small towns, to farms and ranches. If I do move, it’ll probably either be to even nicer digs here or out of the country completely.
This forum needed another one of these move-out threads? Let's simplify it again. If a person already has a job/career and that job/career is transportable or transferable with the same rate of pay, then they can move. If one retire's then their retirement check will follow them wherever they go.
Quote:
Among them are Stan and Julia Usherenko who paid $25,000 over the asking price for their new home in Midland Park, New Jersey, after viewing it just once last month on the final weekend that open houses were allowed.
The couple had been living in Sheepshead Bay, Brookyln, with their two young children.
Have to wonder what their Brooklyn home sold for as Midland Park homes are around $500k+ for a nice looking home. It also has a quick connection to a road that heads to the GW Bridge.
I probably won’t leave just yet, so hopefully values either won’t drop much or will recover by then. Regardless, I’ve been disciplined enoigh to put a huge dent in my mortgage and I’ve been here awhile now, so it would take a huge loss in value to dent my equity enough for me to consider renting it out.
real estate is going to drop like a brick, for more reasons than the virus. RE was in a re-inflated bubble since '08s crisis.
i'd get out now while there's still some value if you were planning to leave. trying to convince my parents to do the same.
My thing is this. NYC does not believe in freedom and independence except for when it is economics. NYC is a very left city and the city values safety and security over freedom and independence. NYC has to put some of the blame for itself for having high rate of Covid infection.
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