Rental of the Day: 428 3rd Street
We quite like this two-and-a-half bedroom rental at 428 3rd Street in Park Slope. The details and the layout are quite agreeable, and the kitchen looks pretty nice to us too (though Mr. B won’t like those new cabinets, we suspect). The price was reduced from $3,400 to $3,250 just a few days ago, a…
We quite like this two-and-a-half bedroom rental at 428 3rd Street in Park Slope. The details and the layout are quite agreeable, and the kitchen looks pretty nice to us too (though Mr. B won’t like those new cabinets, we suspect). The price was reduced from $3,400 to $3,250 just a few days ago, a point that may not be too far off the mark.
428 3rd Street [Level Group] GMAP P*Shark
Wow really late to a rather fascinating discussion here folks.
Quick question Tyburg: you constantly rant about how real estate taxes are unfairly low in this city but can’t stop complaining about how expensive NYC rents and home prices are….sorry seems very inconsistent no? Don’t you think by raising RE taxes prices will go even higher? Can you please explain dear Ty!
BTW 11217 is dead right NYC is expensive simply because of supply and demand…way more folks want to be here than not be here..tres simple!
“Diminishing returns”? Says who? The QOL in this city has gotten better every year for the past decade.
But what is the conclusion of your Cleveland to NYC comparison, tybur?
Based on pure economics, someone that could earn the same money in Cleveland as NYC should move to Cleveland. This is exactly what 11217 suggested might be an idea for someone so upset by the cost of living in NYC.
People stay here for reasons that are not rationalized by pure economics.
If you think the whole city will fall apart because this is ‘unsustainable’, just either move or save up and make a killing buying up cheap RE when it happens.
Ty and all;
If you want to understand why NY’s housing is so expensive, I would strongly suggest that you look at the supply issues, as well as the demand side.
Here is an excellent report on the supply side:
http://www.manhattan-institute.org/html/rdr_04.htm
While it is a couple of years old, it is still dead on the money.
Cost of living is pretty subjective too. I live a pretty frugal lifestyle, so even though I probably spend more than if I lived in Cleveland I can save a lot more $ because my salary is significantly larger. If I had to spend money on things that many constitute as “living” (clothing, kids’ schools, transportation, restaurants, etc.) I could understand the Cleveland argument.
late posting this, but i do actually bring my dog the park usually once every two weeks.. you are referring to a very old post of mine where i said im not a fan of parks. but i did for a while start bringing him to the park, and yeah, he definitely liked it. youre right tho, i SHOULD bring him to the park more often. i dont really have any excuse not to. it doesnt mean im depriving him of anything tho, sheesh. if your panties are in such a twist, just call the ASPCA on me and complain that a dog isnt being taken to prospect park everyday.
*rob*
Etson — That’s FINE for expats living in X country with a paycheck from NYC or Houston or London. Not the same for folk living and earning money IN that city.
What is interesting is that this isn’t a problem when it’s dollar-to-dollar. What is the MEDIAN INCOME of New York City compare to the average cost-of-living. What is interesting is that the difference between median income in NYC and the median income in, say, Cleveland is not as big as the difference in average cost of living. THAT’S the real comparison.
Etson, fair enough, but seriously, do you really think you couldn’t find yourself some food and shelter in gabon for less than what it would cost in Brooklyn? Maybe not at ex-pat comfort levels, but come on.
Angola (the capital of which is #3) and Gabon are both significant oil exporters, which rely on most of the goods on the list being imported, driving the costs higher.
Not sure what you mean, tybur. They translated local currency prices into dollars in order to compare across borders. The prices shown in dollars are just the local currency price multiplied by the exchange rate.
There is absolutely no reason why you can’t do this kind of survey, and HR departments of international companies use them all the time.