4 ms·
> Eastern Asians from Flushing are already moving west towards Manhattan and are already encroaching on Hispanic minorities in Elmhurst and Corona. Encroaching
by rohit2412 8y ago
> Eastern Asians from Flushing are already moving west towards Manhattan and are already encroaching on Hispanic minorities in Elmhurst and Corona.
Encroaching is such a strong word. Are they occupying property illegally or are they buying it at market price?
- Gokenstein 8y agoProbably buying it above market price and therein lies the problem
- ilove_banh_mi 8y agoThe purchase price is not above the market. It is the market.
- ilikehurdles 8y agoI agree in principle, but the estimates for my own home on Redfin would beg to differ. The value of my condo at the time I purchased it seems to fluctuate every month. When I bought it I was below Redfin’s estimate by a few thousand, now it says I overpaid by like 30 thousand.
- CydeWeys 8y agoHuh? Estimates are just that, estimates. The market price is what someone is willing to actually pay for it right now. And yes, it's perfectly valid for market price to decrease over time if an area becomes less desirable.
- deleted 8y ago[deleted]
- ilikehurdles 8y agoJust to be clear, I was referring to the estimate of the property at a certain fixed point in time (my purchase date) changing over time. I do expect current market price to change for my home. I was just saying that these sites will estimate a value that differs and shifts, even estimates of periods during which actual market price is an available data point. March 2017 may look like a great investment when you checked in January 2018, but really bad when you check in October 2018. Anyway, I agree with you that the market is just what people are willing to pay.
- ilove_banh_mi 8y agoIt's not determined by their willingness, it's exactly what they pay -- no more and no less.
- monocasa 8y agoNot every moral issue can be encoded in monetary exchange, because of (among other reasons) unequal access to capital. In general, yes, seeing trends in ethnic groups moving because they can no longer afford what was their home, even if to make way for another ethnic minority, is probably a bad thing.
- nemo44x 8y agoAsians are the poorest racial group in NYC. https://www.google.com/amp/s/m.huffpost.com/us/entry/us_58ff7f40e4b0c46f0782a5b6/amp https://www.google.com/amp/s/m.huffpost.com/us/entry/us_58ff...