NYC apartment vacancies hit highest number in over 10 years

[JackOfNoTrades]

New Yorkers are still fleeing the city during the COVID-19 crisis — with a record 16,000 apartments sitting empty despite some of the lowest rent prices in years. Inventory in Manhattan peaked at 16,145 last month, more than three times higher than a year ago.

So what is the cause, Cuomo, de Blasio, BLM riots, painting BLM on the street?

Manhattan apartment vacancies hit highest number in over a decade

It is a shIthole city anyway.

Yuck....


View attachment 415961

Not even close. You could say that about NYC in the 70's, 80's, and very early 90's. I got some stories that would curl your hair. But they started to clean it up in the early 90's. It wasn't a happy cleanup..and at times, a suspect one legally.
But by the time I started spending a good deal of time there (around 2003-2009) for business, it was a relatively safe place. Fast forward to today, I walked through Times Square and didn't even recognize it. Half of it is closed to traffic now.
Bottom line is that the city will come back. And the rents will start rising again. There are young people that will want the ease and comfort of city living...and they'll happily pay those rents again. There are people who will want the ease and comfort of the suburbs, and will never come back.

 

[Thinker101]

New Yorkers are still fleeing the city during the COVID-19 crisis — with a record 16,000 apartments sitting empty despite some of the lowest rent prices in years. Inventory in Manhattan peaked at 16,145 last month, more than three times higher than a year ago.

So what is the cause, Cuomo, de Blasio, BLM riots, painting BLM on the street?

Manhattan apartment vacancies hit highest number in over a decade

Lock downs---------------and being able to work from home and not on wall street. As soon as the lock downs started, New Yorkers fled the city not caring if they had and were spreading the virus because they didn't want to suffer the lock downs.........being able to work from home allowed them to make money and not have to be on location to do so------------and well Wall Street is all giddy because they have figured out that they don't have to be in New York to make their money. That they could be in florida or Tennessee not paying state income taxes, bourrough taxes, or city taxes, and buy more home with the money, and still make their money---hedge funds are leaving New york--------so ergo new york is dead----it will never return to way it was. New yOrkers are buying homes in Florida like it is cool with no intention of ever going back---without the big money makers in New York--the waitress's and others that serviced them won't have jobs either. New York is on its way to become detroit. We are seeing major population shifts from the northern dem control cities to the south.

Meanwhile you have Deutsche Bank suggesting those that work from home pay an additional 5% tax.

Oh they got all sorts of new TAXES that they are and want to impose---because we all know that NY and the big wigs are all attached and want the workers money still even if they don't live there. NY has an exit tax---for those selling their homes and trying to leave the area. That's right if you sell your home and are leaving the area----NEW YORK has a special ESCAPE FROM NEW YORK TAX FOR YOU. They also are fighting to keep you paying taxes once you have left the state-----if you leave and work in another state, you have to prove that only are you gone from the state but that all your home life has also packed up and moved. So if you leave and your spouse stays behind, you still get to pay New York tax.

Yep, they're trying to adopt similar tax rules here in California.

 

[Thinker101]

New Yorkers are still fleeing the city during the COVID-19 crisis — with a record 16,000 apartments sitting empty despite some of the lowest rent prices in years. Inventory in Manhattan peaked at 16,145 last month, more than three times higher than a year ago.

So what is the cause, Cuomo, de Blasio, BLM riots, painting BLM on the street?

Manhattan apartment vacancies hit highest number in over a decade

It is a shIthole city anyway.

Yuck....


View attachment 415961

Not even close. You could say that about NYC in the 70's, 80's, and very early 90's. I got some stories that would curl your hair. But they started to clean it up in the early 90's. It wasn't a happy cleanup..and at times, a suspect one legally.
But by the time I started spending a good deal of time there (around 2003-2009) for business, it was a relatively safe place. Fast forward to today, I walked through Times Square and didn't even recognize it. Half of it is closed to traffic now.
Bottom line is that the city will come back. And the rents will start rising again. There are young people that will want the ease and comfort of city living...and they'll happily pay those rents again. There are people who will want the ease and comfort of the suburbs, and will never come back.

Sure, NYC will make a comeback, but it will be a severe uphill battle with Cuomo and De Blasio in charge.

 

[toobfreak]

New Yorkers are still fleeing the city during the COVID-19 crisis — with a record 16,000 apartments sitting empty despite some of the lowest rent prices in years. Inventory in Manhattan peaked at 16,145 last month, more than three times higher than a year ago.

So what is the cause, Cuomo, de Blasio, BLM riots, painting BLM on the street?

Manhattan apartment vacancies hit highest number in over a decade

That's gotta really HURT DeBlazio's tax bottom line. Another major democrat city laughably skidding into the shits under their own power.

 

[Thinker101]

New Yorkers are still fleeing the city during the COVID-19 crisis — with a record 16,000 apartments sitting empty despite some of the lowest rent prices in years. Inventory in Manhattan peaked at 16,145 last month, more than three times higher than a year ago.

So what is the cause, Cuomo, de Blasio, BLM riots, painting BLM on the street?

Manhattan apartment vacancies hit highest number in over a decade

That's gotta really HURT DeBlazio's tax bottom line. Another major democrat city laughably skidding into the shits under their own power.

 

[toobfreak]

New Yorkers are still fleeing the city during the COVID-19 crisis — with a record 16,000 apartments sitting empty despite some of the lowest rent prices in years. Inventory in Manhattan peaked at 16,145 last month, more than three times higher than a year ago.

So what is the cause, Cuomo, de Blasio, BLM riots, painting BLM on the street?

Manhattan apartment vacancies hit highest number in over a decade

That's gotta really HURT DeBlazio's tax bottom line. Another major democrat city laughably skidding into the shits under their own power.

And guess what: when all these city dwellers move away from the big cities and get out into the fresh air and real world of the suburbs and rural, no longer under the constant flux of leftwing buzz, they will start to see the light and begin to become conservatives!

 

[Jimmy_Chitwood]

New Yorkers are still fleeing the city during the COVID-19 crisis — with a record 16,000 apartments sitting empty despite some of the lowest rent prices in years. Inventory in Manhattan peaked at 16,145 last month, more than three times higher than a year ago.

So what is the cause, Cuomo, de Blasio, BLM riots, painting BLM on the street?

Manhattan apartment vacancies hit highest number in over a decade

It is a shIthole city anyway.

Yuck....


View attachment 415961

Not even close. You could say that about NYC in the 70's, 80's, and very early 90's. I got some stories that would curl your hair. But they started to clean it up in the early 90's. It wasn't a happy cleanup..and at times, a suspect one legally.
But by the time I started spending a good deal of time there (around 2003-2009) for business, it was a relatively safe place. Fast forward to today, I walked through Times Square and didn't even recognize it. Half of it is closed to traffic now.
Bottom line is that the city will come back. And the rents will start rising again. There are young people that will want the ease and comfort of city living...and they'll happily pay those rents again. There are people who will want the ease and comfort of the suburbs, and will never come back.

It is a personal choice. Preference.

Thankfully we do not all like the same thing.


Couldn't even imagine being stopped and frisked.

4th Amendment....

 

[Thinker101]

New Yorkers are still fleeing the city during the COVID-19 crisis — with a record 16,000 apartments sitting empty despite some of the lowest rent prices in years. Inventory in Manhattan peaked at 16,145 last month, more than three times higher than a year ago.

So what is the cause, Cuomo, de Blasio, BLM riots, painting BLM on the street?

Manhattan apartment vacancies hit highest number in over a decade

That's gotta really HURT DeBlazio's tax bottom line. Another major democrat city laughably skidding into the shits under their own power.

And guess what: when all these city dwellers move away from the big cities and get out into the fresh air and real world of the suburbs and rural, no longer under the constant flux of leftwing buzz, they will start to see the light and begin to become conservatives!

Not quite sure on that one, when you take into consideration what happened during this election to states like Arizona and Texas. Seems libs that moved from California are still libs.

 

[toobfreak]

New Yorkers are still fleeing the city during the COVID-19 crisis — with a record 16,000 apartments sitting empty despite some of the lowest rent prices in years. Inventory in Manhattan peaked at 16,145 last month, more than three times higher than a year ago.

So what is the cause, Cuomo, de Blasio, BLM riots, painting BLM on the street?

Manhattan apartment vacancies hit highest number in over a decade

That's gotta really HURT DeBlazio's tax bottom line. Another major democrat city laughably skidding into the shits under their own power.

And guess what: when all these city dwellers move away from the big cities and get out into the fresh air and real world of the suburbs and rural, no longer under the constant flux of leftwing buzz, they will start to see the light and begin to become conservatives!

Not quite sure on that one, when you take into consideration what happened during this election to states like Arizona and Texas. Seems libs that moved from California are still libs.

It takes time. They haven't been living there for very long and haven't ruined it enough yet to see that the problem they were fleeing is following THEM. Things have to get so bad before they get better, part of the Tytler Cycle I've long thought about writing about but don't know if this place is worth the time and effort.

 

[Unkotare]

Wow, New York, another city I could not give a flying a fart about.

New York can piss off and die too.

The big cities on the East Coast are all shitholes. Philly, NY, Boston, Baltimore, Hartford.

Whoa. Take Boston off your list.

 

[Unkotare]

.... I've long thought about writing about but don't know if this place is worth the time and effort.

Don't do us any favors, Professor Salt!

 

[JimBowie1958]

I had a dream one time when I was in high school, and in it one of my uncles was complaining about the relatives he had let move in 'temporarily' but they wouldn't leave.

He tried to go to court to get them evicted, but the court judge said since they established residence, they had a right to live there.

So my uncle burned his house down, claimed the insurance money, waited for the bastards to find other places to live, then rebuilt.

Ten years later you would never have known anyone else had ever lived there.

Not sure why that came to mind so suddenly.

 

[Juicin]

New Yorkers are still fleeing the city during the COVID-19 crisis — with a record 16,000 apartments sitting empty despite some of the lowest rent prices in years. Inventory in Manhattan peaked at 16,145 last month, more than three times higher than a year ago.

So what is the cause, Cuomo, de Blasio, BLM riots, painting BLM on the street?

Manhattan apartment vacancies hit highest number in over a decade

When I hear landlords talk about how they have large vacancy in high end units I think we haven't quite reached the bottom yet.

Landlords are unsure how to value their property. That pretty much sums that up

Either people are coming back or they're not and prices haven't hit the bottom.

 

[LAUGHatLEFTISTS]

New Yorkers are still fleeing the city during the COVID-19 crisis — with a record 16,000 apartments sitting empty despite some of the lowest rent prices in years. Inventory in Manhattan peaked at 16,145 last month, more than three times higher than a year ago.

So what is the cause, Cuomo, de Blasio, BLM riots, painting BLM on the street?

Manhattan apartment vacancies hit highest number in over a decade

It is a shIthole city anyway.

Yuck....


View attachment 415961

Not even close. You could say that about NYC in the 70's, 80's, and very early 90's. I got some stories that would curl your hair. But they started to clean it up in the early 90's. It wasn't a happy cleanup..and at times, a suspect one legally.
But by the time I started spending a good deal of time there (around 2003-2009) for business, it was a relatively safe place. Fast forward to today, I walked through Times Square and didn't even recognize it. Half of it is closed to traffic now.
Bottom line is that the city will come back. And the rents will start rising again. There are young people that will want the ease and comfort of city living...and they'll happily pay those rents again. There are people who will want the ease and comfort of the suburbs, and will never come back.

Why dont you inform the readers on this forum who the mayor was during the NYC cleanup in the 90s.
You can do it. It wont be that hard.

 

[Thinker101]

New Yorkers are still fleeing the city during the COVID-19 crisis — with a record 16,000 apartments sitting empty despite some of the lowest rent prices in years. Inventory in Manhattan peaked at 16,145 last month, more than three times higher than a year ago.

So what is the cause, Cuomo, de Blasio, BLM riots, painting BLM on the street?

Manhattan apartment vacancies hit highest number in over a decade

When I hear landlords talk about how they have large vacancy in high end units I think we haven't quite reached the bottom yet.

Landlords are unsure how to value their property. That pretty much sums that up

Either people are coming back or they're not and prices haven't hit the bottom.

Seems there are a few other factors to keep in mind. One is if the neighborhood is not safe, better off making it Section 8 housing.

 

[Coyote]

New Yorkers are still fleeing the city during the COVID-19 crisis — with a record 16,000 apartments sitting empty despite some of the lowest rent prices in years. Inventory in Manhattan peaked at 16,145 last month, more than three times higher than a year ago.

So what is the cause, Cuomo, de Blasio, BLM riots, painting BLM on the street?

Manhattan apartment vacancies hit highest number in over a decade

The cause is kind of simple. More and more people working from home realizing they no longer have to live in the city where cost of housing is so high.

 

[Thinker101]

New Yorkers are still fleeing the city during the COVID-19 crisis — with a record 16,000 apartments sitting empty despite some of the lowest rent prices in years. Inventory in Manhattan peaked at 16,145 last month, more than three times higher than a year ago.

So what is the cause, Cuomo, de Blasio, BLM riots, painting BLM on the street?

Manhattan apartment vacancies hit highest number in over a decade

The cause is kind of simple. More and more people working from home realizing they no longer have to live in the city where cost of housing is so high.

You bet, working from home and all the local stores are boarded up with plywood....a democrats paradise.

 

[skye]

Under the bolshevik De Blasio and the other communist, idiot Cuomo, NY is not what it was anymore.

I don't feel pity for the people living there, they voted for those two lowlifes and they deserve all the shit they get.

 

[Jarlaxle]

Maybe it will drive the rents down

Which part of "despite some of the lowest rent prices in years" is difficult for you to understand?

All of it. He's not too bright, you know.

 

[Polishprince]

Wow, New York, another city I could not give a flying a fart about.

New York can piss off and die too.

Best city in the US by far and one of the top cities in the world

That's rubbish. I enjoy living in the tremendous city of Hermitage PA,and we are much superior to NY.

Even Youngstown, with the phony Croat as mayor, is better than New York.