No one is pumping anything. The facts are that people with options took them as a result of this pandemic. This has been a positive for real estate prices in suburban towns in NY, NJ, and CT that have rail access to midtown. Real estate activity in the city is way down, especially at the high end. No one is wishing for a NYC collapse. It is the economic engine for this region. The capital of world finance and US business activity which fuels the law firms. Growing tech sector. But it has taken a body blow. To think otherwise is rubbish.
OT: Nassau County and NYC
- Thread starter RUBOB72
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No one is pumping anything. The facts are that people with options took them as a result of this pandemic. This has been a positive for real estate prices in suburban towns in NY, NJ, and CT that have rail access to midtown. Real estate activity in the city is way down, especially at the high end. No one is wishing for a NYC collapse. It is the economic engine for this region. The capital of world finance and US business activity which fuels the law firms. Growing tech sector. But it has taken a body blow. To think otherwise is rubbish.
500k people left NYC because of the virus. The officially sanctioned violence and looting then kept them away. Two mayors fought to keep NYC safe - a reason blighted areas could justify investment and restoration. Then a cadre of misfits and lunatics threw-it all away. Relief is not in sight.
NYC Crime Spike Is Last Straw Pushing Anxious Residents to Flee
www.claimsjournal.com
NYC Crime Spike Is Last Straw Pushing Anxious Residents to Flee
NYC Crime Spike Is Last Straw Pushing Anxious Residents to Flee
A recent crime spike, including a surge of shootings, is giving some New Yorkers another reason to leave. That's especially true for newer arrivals,
www.claimsjournal.com
NYC isn't the boarded up wreck it was earlier in the summer, but it isn't approaching pre-Covid vibrancy either. Just look at the EarthCams and see for yourself.
Ever since Rutgersal signed a new lease in an expensive NYC rental recently people have been leaving the city en masse.
I have two nieces that rented in NYC until June. One moved to San Diego for a new job and the other is working from parents home in Flemington. One can always go back if things return to anything close to normal.
Places driven by tourism like South St Seaport and Times Square area will always seem busy but how do local businesses survive with few office workers on the streets? Should be interesting to see how many restaurants open for 25% indoor dining at the end of Sept. At 25% occupancy its doubtful they can survive long.
I have two nieces that rented in NYC until June. One moved to San Diego for a new job and the other is working from parents home in Flemington. One can always go back if things return to anything close to normal.
Places driven by tourism like South St Seaport and Times Square area will always seem busy but how do local businesses survive with few office workers on the streets? Should be interesting to see how many restaurants open for 25% indoor dining at the end of Sept. At 25% occupancy its doubtful they can survive long.
500k people left NYC because of the virus. The officially sanctioned violence and looting then kept them away. Two mayors fought to keep NYC safe - a reason blighted areas could justify investment and restoration. Then a cadre of misfits and lunatics threw-it all away. Relief is not in sight.
NYC Crime Spike Is Last Straw Pushing Anxious Residents to Flee
NYC Crime Spike Is Last Straw Pushing Anxious Residents to Flee
A recent crime spike, including a surge of shootings, is giving some New Yorkers another reason to leave. That's especially true for newer arrivals,
For a 24 year old who is looking at a 1 year lease or sublease there may be interest. For a potential buyer.......
I'm not sure he understands that NJ as well as NY has some of the most beautiful natual country this world has to offer. And yet, civilization. West Virginia? Oh man...At least come up with something that makes sense
I don’t understand how these restaurants will be able to survive especially during the cold weather at only 25% capacity how do you pay your employees, rent, insurance and have enough money for your own expenses.
As long as there is high speed internet, that is all that matters. My wife works in the city and her team has dispersed all over during the pandemic. Most do not want to go back to the city since they all can work remotely.
Been a NJ guy all my life. Now own homes in Nassau county and in Manhattan. Without NYC we don't have a metro. Do you really beleive without nyc we'd have the vibrancy we do have in our suburbs. If you don't appreciate that you do belong in WVA-- and there's nothing wrong with that
That's sort of the opposite ends of the spectrum. Yes, NYC offers more in entertainment , but I can think of about 8 NJ suburbs who offer a restaurant selection that are as good as any neighborhood in the city. And if they can begin inside dining they would not lose their now remotely working clientel.
Real estate market is doing well in Middlesex County as well. My girlfriend and I bought our house in East Brunswick for 375 back in March 2019 - I see comparable homes in the neighborhood are now going for 450+.
The changing economics due to COVID, and newly demonstrated abilities to "work from home" will certainly change the landscape of our cities, no one can say for sure yet to what extent that will happen. While NYC may be in a downturn right now - anyone who says its "dead" is kidding themselves. Makes me think of the 1970's and "Ford to City: 'Drop Dead'". As one of my planning professors surmised in class today - if anything, now would be a time for potential investors to buy property in NYC. Short of a nuclear bomb going off or massive sea level rise, New York isn't going anywhere. As one of only two "Alpha++ Global Cities" (the other being London) its kind of too big to fail IMO.
The changing economics due to COVID, and newly demonstrated abilities to "work from home" will certainly change the landscape of our cities, no one can say for sure yet to what extent that will happen. While NYC may be in a downturn right now - anyone who says its "dead" is kidding themselves. Makes me think of the 1970's and "Ford to City: 'Drop Dead'". As one of my planning professors surmised in class today - if anything, now would be a time for potential investors to buy property in NYC. Short of a nuclear bomb going off or massive sea level rise, New York isn't going anywhere. As one of only two "Alpha++ Global Cities" (the other being London) its kind of too big to fail IMO.
How long are they prepared to wait? One thing about remote working is there is no need to rush back to the city. And who is going to be the next mayor?
Not so sure. Some will, but the fact is if companies are more open to remote work moving forward people will have the freedom to live anywhere they want. I actually think the latter part of the age range you cite will move to suburban or even more rural areas, particualrly if they like open space and accessibility to outdoor activities.
You don't need to live in NYC to derive economic advantages from it, nor to enjoy it's cultural opportunities. More & more people are figuring that out.
The railroads were the high-speed internet lines of 100 years ago. Without the railroads, Nassau County and Bergen County remain pastoral. My childhood home in southern Nassau was built in 1925. The neighborhood sprang up to house the increasing population of workers drawn to railroad towns for traveling into NYC for work while providing open spaces and enjoyment of living outside the crowded city center.
Prior to that, it was a potato farm.
Don't fight human nature.
I remember those guys. One really loud millenial type used to claim they'd never leave the cities. No look at em.
Yeah, think you're overestimating the natural beauty of NJ just a tad. Perhaps also underestimating WV's.
You are correct that without the easy access to big cities in this area, it would lose the vibrancy. But while this pandemic has the big cities at a standstill, it wont stay that way and I am sure that they will all come back if even just a little different and more vibrant. BTW- I would love to move out of this area just for the cost of living but WV is not the place that a family like mine would ever have any interest in at all.
WV does have beautiful land...but if you cant find the same in NJ/NY, then you havent looked. 2 hours or less outside of the greatest city on earth and you could be in complete isolation on an incredible mountain and not see another human for hours if not days
For quite a while, people have been moving to Texas, Arizona, Tennessee, the Carolinas, Virginia and of course Florida. Now it is a tsunami.
"You don't need to live in NYC to derive economic advantages from it, nor to enjoy it's cultural opportunities" never said you have to live in nyc but your statement makes no sense --without a nyc you have no cultural and eco opportunities it brings--what came first chicken or.... NYC did
Let's pump the brakes a little on what we're calling "mountains" and "isolated" as it pertains to NJ, especially compared to a state that does have proper mountains.
I agree NJ wins over WV all day, but in spite of, not because of, isolated mountains. WV wins that battle.
NY, Adirondacks, ok. NJ doesn't have that.
Friends of ours are moving to Washington Township in Warren County. Great looking home they got for around 325K. Their mortgage will be comparable to the rent they are currently paying.
Since people are now working at home, will they now be freed from paying the rip off New York City taxes since they no longer have to physically be there? We need to keep New Jersey money in our own state, now more than ever.
You may have noticed I kept including NY into the conversation. NJ doesn't have the great mountain ranges but it does have a lot of beautiful nature. NY, you don't have to get to far away from the city to be in some of the great mountain ranges you will find. And the Catskills also belong in that conversation.
Anyway- WV could have the most incredible nature in the world and it still is WV..
I never paid City tax when I worked in an office in NYC but lived outside the city. Though, living in NJ and working in NY was just always a pain in the ass because of the need to file two tax returns. Once I got to be a remote worker, I had to make sure that HR changed my work location to my home address rather than the NYC location and then only withhold NJ state tax.
NYC got rid of their non-resident tax a while back. But NYS has been very aggressive about asserting that remote work in NJ or CT remains taxable by NYS. It gets very technical, but with the amount of that going on this year expect them to be very active on the audit front.
Business leaders fire a shot at Bill di Nero
CEOs to Mayor de Blasio: Fix New York City!
www.nydailynews.com
CEOs to Mayor de Blasio: Fix New York City!
CEOs to Mayor de Blasio: Fix New York City!
'There is widespread anxiety over public safety, cleanliness and other quality of life issues that are contributing to deteriorating conditions,' 163 business leaders wrote the mayor.
Business leaders fire a shot at Bill di Nero
CEOs to Mayor de Blasio: Fix New York City!
CEOs to Mayor de Blasio: Fix New York City!
'There is widespread anxiety over public safety, cleanliness and other quality of life issues that are contributing to deteriorating conditions,' 163 business leaders wrote the mayor.
And that's the Daily News, NOT The Post running that article.
Did you not look at the first page, it's full of both pumping and wishing NYC dead. I agree it's the engine but most people are too stupid to realize that and think everything revolves around the suburban town they never left.
NYT reporting this as well:Business leaders fire a shot at Bill di Nero
CEOs to Mayor de Blasio: Fix New York City!
CEOs to Mayor de Blasio: Fix New York City!
'There is widespread anxiety over public safety, cleanliness and other quality of life issues that are contributing to deteriorating conditions,' 163 business leaders wrote the mayor.
150 Big Businesses Warn Mayor of ‘Widespread Anxiety’ Over N.Y.C.’s Future (Published 2020)
Leaders of companies like Goldman Sachs and JetBlue implored Mayor Bill de Blasio to take more decisive action to halt the city’s decline.
Sir i'm putting my home on the market in Oct up in New Haven outside the city. I pray you're wrong....
But they are all retired or some of those do-gooders that come in for a day in the volunteer RV with dental chairs ...
I spend my summers up in Maine, and the idea of being stuck at home in a quarantine has had a big impact on people. I am pretty far up in Maine, so things are basically only seasonal, and the 8 building lots on my pond that have been on the market for 5 years+ all sold in the Mar to June time period. The landowner cleared 14 more lots and 9 of them sold by the end of the summer. You can only get in to your property April to early November, but people are buying getaways figuring if they have to be stuck at home they at least want to be at a place with a lot to do.
Meanwhile, my brother lives in Southern Maine about an hour from the border and he says houses there (these would be year round) are being sold immediately after they hit the market to people from MA.
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