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Reasons why New York Sucks - Page 620

post #9286 of 11478
i wish the MTA would start to gentrify
post #9287 of 11478
Quote:
Originally Posted by romafan View Post

http://vanishingnewyork.blogspot.com/

This is a good blog tracking hyper-gentrification. It will sadden you....

If you read the posts, a lot of them are so misguided. Save things worth saving. For each case, it needs to be asked: "Is keeping it the same better than what will replace it?"

OK, so you're sad an old run down thing you're nostalgic about is going away. OK. Is it better to let the whole city stagnate and decay? What if they adopted this attitude in 1850? Should half of manhattan still be farms?

Serious real estate conservationists are mostly morons as they cast their nets WAY too wide. NY public library stacks come to mind.
post #9288 of 11478
Quote:
Originally Posted by archetypal_yuppie View Post

If you read the posts, a lot of them are so misguided. Save things worth saving. For each case, it needs to be asked: "Is keeping it the same better than what will replace it?"

OK, so you're sad an old run down thing you're nostalgic about is going away. OK. Is it better to let the whole city stagnate and decay? What if they adopted this attitude in 1850? Should half of manhattan still be farms?

Serious real estate conservationists are mostly morons as they cast their nets WAY too wide. NY public library stacks come to mind.

yes, some old stuff should go, that is the way of the world - 1/2 of manhattan should not be farms. moss's point is that natural growth/evolution should come about 'organically' - things fade out when there is no longer a use or market for them, lots of viable businesses (not just old run down stuff) are being forced to close down because they can't afford a quintupling rent increase. a lot of the new stuff coming in (chains, box stores, bank branches, luxury brands) is changing the face of the city, for the worse for many, even those who do not pine for the 'good old days' of the old dirty & dangerous nyc
post #9289 of 11478
Quote:
Originally Posted by erictheobscure View Post

Yeah, I'm currently building a few highrises. What do you want to know?

i am guessing you're kidding? biggrin.gif
post #9290 of 11478
Quote:
Originally Posted by romafan View Post

'organically'

This is a romantic word that brings mom and pop bakeries to mind, but... if you ask me theres nothing inorganic about businesses being forced out if their economics cannot support the value of their spot.
Quote:
Originally Posted by romafan View Post

a lot of the new stuff coming in (chains, box stores, bank branches, luxury brands) is changing the face of the city, for the worse for many, even those who do not pine for the 'good old days' of the old dirty & dangerous nyc

People vote with their wallets - reality is they want to go to those big box stores more than they do to the crumbling whatever.

I agree entirely with the premise that the "look and feel" gets lost, just not the idea that keeping it that way is actually better.
post #9291 of 11478
People talk about it as if gentrification is a brand new thing. It has been happening forever. I do think the rise in real estate values in NYC isn't going to continue on the same trajectory. I certainly wouldn't pay for my apartment what it is currently worth.
post #9292 of 11478
Quote:
Originally Posted by archetypal_yuppie View Post

This is a romantic word that brings mom and pop bakeries to mind, but... if you ask me theres nothing inorganic about businesses being forced out if their economics cannot support the value of their spot.
People vote with their wallets - reality is they want to go to those big box stores more than they do to the crumbling whatever.

I agree entirely with the premise that the "look and feel" gets lost, just not the idea that keeping it that way is actually better.

Quote:
Originally Posted by patrickBOOTH View Post

People talk about it as if gentrification is a brand new thing. It has been happening forever. I do think the rise in real estate values in NYC isn't going to continue on the same trajectory. I certainly wouldn't pay for my apartment what it is currently worth.

sorry for the touchy-feely wording - blogger's (along w/ 'hyper-gentrification) description but i think it is apt. also agree that market forces will dictate what a spot is worth and if mom&pop can't pay then they will likely be forced out. but i don't agree that people are voting w/ their wallets - what's driving the market is who can afford to pay the astronomical rents - m&p can't, but i don't think that means what people want are the businesses that can,

yes, gentrification has been happening forever, but it seems that it is borderline out of control - someone w/ tech/economic knowhow can probably research historic property value cycles/trends and see if we are in some uncharted waters - i don't see how things can continue like this. i see the frozen yogurt boom is already reversing (a good thing)
post #9293 of 11478
Quote:
Originally Posted by romafan View Post


moss's point is that natural growth/evolution should come about 'organically'

 

Most of the development is coming about inorganically.  It's financed by money created out of nothing by commercial banks who can use a fractional reserve ratio of 10:1 (that is, for every $1 of capital, they can lend out $10).  This money is more readily available to the banks themselves and to large corporations.  Thus you get TD Ameritrades and Duane Reades instead of sole proprietorships.

post #9294 of 11478
What does it mean (in the context of this forum) when someone "gives you reputation" confused.gif (uhoh.gif)
post #9295 of 11478
Quote:
Originally Posted by NickCarraway View Post

Most of the development is coming about inorganically.  It's financed by money created out of nothing by commercial banks who can use a fractional reserve ratio of 10:1 (that is, for every $1 of capital, they can lend out $10).  This money is more readily available to the banks themselves and to large corporations.  Thus you get TD Ameritrades and Duane Reades instead of sole proprietorships.

I always wondered how fractional banking happened. Thanks!
post #9296 of 11478
Quote:
Originally Posted by romafan View Post

What does it mean (in the context of this forum) when someone "gives you reputation" confused.gif (uhoh.gif)

It's the little thumbs-up thing at the bottom right of each post.

Why we're suddenly getting emails about though is a good question. Suppose there's a way to disable that.
post #9297 of 11478
gonna start repping teh hell out of some posts, fill up dem inboxes.
post #9298 of 11478
Quote:
Originally Posted by romafan View Post

but i don't agree that people are voting w/ their wallets - what's driving the market is who can afford to pay the astronomical rents - m&p can't, but i don't think that means what people want are the businesses that can,

Connect the dots...

Obviously the owner should maximize his/her rents. The businesses that can afford the spaces are able to afford them via the revenues/profits that they're able to generate. I.e. people are patronizing the new stores more than the old ones. Voting with their wallets.
Quote:
Originally Posted by NickCarraway View Post

Most of the development is coming about inorganically.  It's financed by money created out of nothing by commercial banks who can use a fractional reserve ratio of 10:1 (that is, for every $1 of capital, they can lend out $10).  This money is more readily available to the banks themselves and to large corporations.  Thus you get TD Ameritrades and Duane Reades instead of sole proprietorships.

I think I recall some complete nonsense posts by you in the "investing" thread, so I guess this post is not out of character.
post #9299 of 11478
Quote:
Originally Posted by rnoldh View Post

I thought New Yorkers are tough and don't put up with shit.

Evict Fire Victim Bilkers from NYC

http://www.gofundme.com/r7b7quk

Let's get this rolling

Hmm. Maybe these two are not quite as bad as I first thought.

http://www.courtroomstrategy.com/2015/04/blast-lawsuit-is-desperate-plea-for-attention/

Quote:
Originally Posted by romafan View Post

yes, some old stuff should go, that is the way of the world - 1/2 of manhattan should not be farms.

Instead, half of Manhattan is Starbucks. I am a huge fan of market forces and certainly people should be allowed to vote with their wallets. Nonetheless, the "uniformity of efficiency" can be kind of depressing sometimes. One-off mom and pops aren't as efficient as national chains, but it's kind of hard to have a favorite Starbucks.
post #9300 of 11478
Quote:
Originally Posted by Bounder View Post

One-off mom and pops aren't as efficient as national chains, but it's kind of hard to have a favorite Starbucks.

I noticed that the Starbucks near my work has their reserve selections and now a special cold brew option.

it might be my favorite Starbucks.
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