3 ms·

Housing Prices in New York City

2 points by mgalka 12y ago

Two recent articles: Over 7,000 homes in New York City are now worth over $5M (the most expensive one ever was just sold for $100M). http://www.wsj.com/articles/mapping-the-wealth-of-new-york-city-by-housing-values-1422929059 Rental apartments in New York are now being leased for as much as $500k-per-month. https://revaluate.com/blog/highest-rents-in-nyc/ I have always considered myself a libertarian, believing in the invisible hand of the free market. But this is just crazy! Can anyone justify why people are paying $500,000-a-month for an apartment? How many lives around the world would that save?

babnik63 12y ago
Really not many lives, they will spend it on another thing if they don't rent apartment. People just loves their own life. :-)
mtmail 12y ago
I'm not biting. Your blog (revaluate.com) has posts like "5 of the strangest building in NYC" and "5 most famous apartment buildings in NYC" so the post "the highest rents in NYC" fits great to create some controversy but not sincere discussion on money inequity. In other words I think you're looking for extremes so people click on articles.
- mgalka 12y ago
  If you are alleging that the content on the Revaluate blog is created so that people want to read it, then guilty as charged. However, neither of the posts that you mention are particularly controversial. If you do not think this is sincere discussion, I suggest you read some of these articles. http://observer.com/2014/11/pied-a-terre-owners-use-city-services-too-on-the-myth-of-the-benevolent-billionaire/ http://observer.com/2014/11/pied-a-terre-owners-use-city-ser... http://www.nytimes.com/2014/10/26/realestate/pieds-terre-owners-dominate-some-new-york-buildings.html http://www.nytimes.com/2014/10/26/realestate/pieds-terre-own... http://www.nydailynews.com/opinion/grateful-nyc-pied-a-terre-article-1.1953048 http://www.nydailynews.com/opinion/grateful-nyc-pied-a-terre... http://www.nytimes.com/2015/01/11/realestate/new-york-citys-emptiest-co-ops-and-condos.html http://www.nytimes.com/2015/01/11/realestate/new-york-citys-... The libertarian in me says that taxing these ultra high end units is crazy. But there are tens of thousands of people homeless now in NYC (more than ever before), meanwhile all of the city's resources are going to build towers for billionaires that will end up being vacant for most of the year. If you were one of those families losing their home, I think you might feel very differently
akrymski 12y ago
I suggest you take a look at the stats for the number of billionaires in the world over the past 10-20 years. Most likely that chart is very much correlated to house prices in prime areas. http://www.wsws.org/asset/571f64b3-ef4c-400b-8c88-ebf662f82cbM/forbes-chart.jpg?rendition=image480 http://www.wsws.org/asset/571f64b3-ef4c-400b-8c88-ebf662f82c... http://www.the-crises.com/wp-content/uploads/2010/12/wealth-inequality-usa-09.jpg http://www.the-crises.com/wp-content/uploads/2010/12/wealth-...

2 points by mgalka 12y ago

babnik63 12y ago

Really not many lives, they will spend it on another thing if they don't rent apartment. People just loves their own life. :-)

mtmail 12y ago

I'm not biting. Your blog (revaluate.com) has posts like "5 of the strangest building in NYC" and "5 most famous apartment buildings in NYC" so the post "the highest rents in NYC" fits great to create some controversy but not sincere discussion on money inequity. In other words I think you're looking for extremes so people click on articles.

mgalka 12y ago
If you are alleging that the content on the Revaluate blog is created so that people want to read it, then guilty as charged. However, neither of the posts that you mention are particularly controversial. If you do not think this is sincere discussion, I suggest you read some of these articles. http://observer.com/2014/11/pied-a-terre-owners-use-city-services-too-on-the-myth-of-the-benevolent-billionaire/ http://observer.com/2014/11/pied-a-terre-owners-use-city-ser... http://www.nytimes.com/2014/10/26/realestate/pieds-terre-owners-dominate-some-new-york-buildings.html http://www.nytimes.com/2014/10/26/realestate/pieds-terre-own... http://www.nydailynews.com/opinion/grateful-nyc-pied-a-terre-article-1.1953048 http://www.nydailynews.com/opinion/grateful-nyc-pied-a-terre... http://www.nytimes.com/2015/01/11/realestate/new-york-citys-emptiest-co-ops-and-condos.html http://www.nytimes.com/2015/01/11/realestate/new-york-citys-... The libertarian in me says that taxing these ultra high end units is crazy. But there are tens of thousands of people homeless now in NYC (more than ever before), meanwhile all of the city's resources are going to build towers for billionaires that will end up being vacant for most of the year. If you were one of those families losing their home, I think you might feel very differently

akrymski 12y ago

I suggest you take a look at the stats for the number of billionaires in the world over the past 10-20 years. Most likely that chart is very much correlated to house prices in prime areas. http://www.wsws.org/asset/571f64b3-ef4c-400b-8c88-ebf662f82cbM/forbes-chart.jpg?rendition=image480 http://www.wsws.org/asset/571f64b3-ef4c-400b-8c88-ebf662f82c... http://www.the-crises.com/wp-content/uploads/2010/12/wealth-inequality-usa-09.jpg http://www.the-crises.com/wp-content/uploads/2010/12/wealth-...