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White Flight in Manhattan?

Posted on 8/14/20 at 10:47 pm
Posted by RockyMtnTigerWDE
War Damn Eagle Dad!
Member since Oct 2010
105376 posts
Posted on 8/14/20 at 10:47 pm
I know it’s more than that. Just a stab at lighthearted humor.

CNBC Link
Empty apartments in Manhattan reach record high, topping 13,000


quote:

The outbound migration is higher than the inbound migration right now," said Jonathan Miller, CEO of Miller Samuel, the appraisal and research company.


This post was edited on 8/14/20 at 10:50 pm
Posted by Mrwhodat
Member since Dec 2015
10296 posts
Posted on 8/14/20 at 10:51 pm to
quote:

Empty apartments in Manhattan reach record high, topping 13,000

The homeless and especially released criminals should all get housing vouchers to fill all 13,000 apartments.
Posted by JackieTreehorn
Malibu
Member since Sep 2013
29030 posts
Posted on 8/14/20 at 10:56 pm to
A guy on Fox earlier owns a moving company in Florida and he has already doubled his revenue from 2019. All from people fleeing NY. They are about to infest and consume the south.
Posted by Eli Goldfinger
Member since Sep 2016
32785 posts
Posted on 8/14/20 at 10:58 pm to
Frick you.
Those apartments are on in gentrified neighborhoods.
Those neighborhoods are on Native American land.

The only real solution is to give the apartments to Indians who own scooters.
Posted by keks tadpole
Yellow Leaf Creek
Member since Feb 2017
7573 posts
Posted on 8/14/20 at 10:59 pm to
What NYC needs is 20,000 male Syrian Muslim refugees with no education and no work skills
Posted by nugget
Mostly Peaceful Poster
Member since Dec 2009
13814 posts
Posted on 8/14/20 at 11:02 pm to
Manhattan is one of the great places to visit in the US. Watching the wildcats take the field is a thing of beauty
Posted by 0
Member since Aug 2011
16624 posts
Posted on 8/14/20 at 11:05 pm to
Not surprising. Hard to keep up with 5k / month rent and not able to work.
Posted by Auburn1968
NYC
Member since Mar 2019
19352 posts
Posted on 8/14/20 at 11:05 pm to
A 20' UHaul moving van to Atlanta costs just under $3000. The same van from Atlanta to NYC is under $1000.

De Blasio has worked his magic on both cv19 and "peaceful protests."
Posted by KCT
Psalm 23:5
Member since Feb 2010
38911 posts
Posted on 8/14/20 at 11:05 pm to
quote:

White Flight in Manhattan?


"I'll take 'Things I never thought I would hear' for $1,000, Alex."
Posted by Auburn1968
NYC
Member since Mar 2019
19352 posts
Posted on 8/14/20 at 11:08 pm to
quote:

Not surprising. Hard to keep up with 5k / month rent and not able to work.


A lot of retail businesses are paying 20k to 60k in rent. Landlords are giving massive discounts and forgiveness because they know nobody else is going to rent their spaces for a long time.

Good job Comrade De Blasio.
Posted by beachdude
FL
Member since Nov 2008
5623 posts
Posted on 8/14/20 at 11:08 pm to
$3000+/mo for 450 or so sq ft upper west side. Nuts to that life. My question is: if both residential and commercial tenants are either moving out or not paying their rent because of no job or closed business, where is the landlord’s income? How can he pay city and state property taxes without rental income? Without property tax revenues, how does NYC survive?
Posted by nugget
Mostly Peaceful Poster
Member since Dec 2009
13814 posts
Posted on 8/14/20 at 11:15 pm to
What’s nuts, is even with a 100% collection rate and a 100% occupancy rate, these buildings still aren’t cash flow positive for the owners. New York real estate is a bubble.

If a couple of these larger buildings go into default, it’s going to drive down valuation and cause a long line of problems.
Posted by teeMike
In my mind, I'm already there.
Member since Feb 2007
7574 posts
Posted on 8/14/20 at 11:19 pm to
I guess that’s why the Dems desperately need to fund these states with large urban communities via the relief package. Tax revenue must be taking a massive hit.
Posted by TigerNlc
Chocolate City
Member since Jun 2006
32487 posts
Posted on 8/14/20 at 11:23 pm to
Investors from foreign countries will scoop them up and wait until the next gentrification.
Posted by ItNeverRains
37069
Member since Oct 2007
25389 posts
Posted on 8/15/20 at 3:05 am to
I’m working 3 transactions with lifetime NYC residents fleeing for TN. They will lose 1 million high net worth white people this year. City is fricked.
Posted by gthog61
Irving, TX
Member since Nov 2009
71001 posts
Posted on 8/15/20 at 3:32 am to
quote:

The outbound migration is higher than the inbound migration right now," said Jonathan Miller, CEO of Miller Samuel, the appraisal and research company.


keen insight Jon
Posted by Geekboy
Member since Jan 2004
4914 posts
Posted on 8/15/20 at 4:25 am to
They have a mongoloid for mayor. What did you expect?
Posted by ChineseBandit58
Pearland, TX
Member since Aug 2005
42508 posts
Posted on 8/15/20 at 4:35 am to
quote:

A guy on Fox earlier owns a moving company in Florida and he has already doubled his revenue from 2019. All from people fleeing NY. They are about to infest and consume the south.


Saw that - first impulse was = "are they registering to vote in Florida in time for this election?"

Could be a game changer letting thousands of yankee transplants vote in their new temporary 'home.' I would wager that over 90% of them reflexively pull the DEMOCRAT lever.
Posted by RTRinTampa
Central FL
Member since Jan 2013
5532 posts
Posted on 8/15/20 at 4:55 am to
quote:

City is fricked.


Nope. The cities where they land are fricked. They won't change their voting habits. They are fleeing a problem they created. fricking parasites.
Posted by ksayetiger
Centenary Gents
Member since Jul 2007
68264 posts
Posted on 8/15/20 at 5:23 am to
quote:

where is the landlord’s income? How can he pay city and state property taxes without rental income? Without property tax revenues, how does NYC survive?


it doesn't.

and I hope that happens sooner rather than later so other cities take note what happens when you are extreme left wing
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