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What New York are you in? I see multiple new high-rises each year in Manhattan, and continued gentrification/refurbishment pushing into the boroughs. TFA is t
by jbooth 10y ago
What New York are you in? I see multiple new high-rises each year in Manhattan, and continued gentrification/refurbishment pushing into the boroughs.
TFA is talking about so much new construction in Brooklyn that it might push prices down.
- TulliusCicero 10y agoSeeing "multiple new high rises" is meaningless when you're talking about a dense area that already has well over a million people. What's the net increase in housing stock as a percentage of the population? That's the key.
- jbooth 10y agoSeeing "multiple new high rises" is absolutely meaningful when there are already a ton. It means that, out of limited space not already occupied by really tall buildings, tall buildings are still being built. Most of Manhattan is about as developed as it can possibly be, short of replacing 20-story buildings with 50-story buildings or something (probably not profitable). The push to the boroughs is the bigger portion of new housing stock for our income class. Yes, a few blocks in the west village are still really short, but that's about it for all of manhattan.
- kchoudhu 10y agoCall me crazy, but the continuous addition of $5000 per month units is not the kind of zoning New York should be encouraging.
- omonra 10y agoWhy? Increase in supply will affect the entire curve, thus making housing cheaper for everybody. Ie that's like making one part of the room warmer.
- jbooth 10y agoYes, and additionally, I don't believe any part of the zoning codes specify rent to be charged. What the market will bear and all that.