My NYC Black Folk......Gentrification

[ogc163]

Not happening any time soon

Rich chinese, russian, israelis etc are going to be flooding the market with funny money as long as ny is glamorous... credit has been scarce... that doesnt affect foreign money... same thing happening in london but worse

So you think hot money will keep it going? What are your thoughts on Canada then? Because the foreign hot money continuing at a stable flow is one of the main arguments folks who are argue against there being a "Canadian Housing Bubble" use.

 

[john goodman]

So you think hot money will keep it going? What are your thoughts on Canada then? Because the foreign hot money continuing at a stable flow is one of the main arguments folks who are argue against there being a "Canadian Housing Bubble" use.

The first thing rich chinese and russians do when they make money is get it the hell out of their corrupt countries

And new fortunes are made whenever there is govt official turnover

I was talking to a luxury condo developer that only does ny and toronto the other day... still bullish on both markets

Prices are insane... 3000 psf is standard for these guys... you want to see where ny is going check out prices in london

 

[88m3]

The first thing rich chinese and russians do when they make money is get it the hell out of their corrupt countries

And new fortunes are made whenever there is govt official turnover

I was talking to a luxury condo developer that only does ny and toronto the other day... still bullish on both markets

Prices are insane... 3000 psf is standard for these guys... you want to see where ny is going check out prices in london

In a lot of cases people who work/live in London have to work/live in London.

In America this isn't so.

I don't think there is enough wealth in the world for NY to turn into London...

 

[Serious]

You think I'm an idiot because you think I don't understand this. I do. I just don't care about any of that. I don't care about wealth nor assets. Just not relevant to my life.

have fun living check to check...

 

[the next guy]

In a lot of cases people who work/live in London have to work/live in London.

In America this isn't so.

I don't think there is enough wealth in the world for NY to turn into London...

We forget North NJ, Long Island, Westchester/Lower Hudson, and CT are a big deal.

 

[ogc163]

The first thing rich chinese and russians do when they make money is get it the hell out of their corrupt countries

And new fortunes are made whenever there is govt official turnover

I was talking to a luxury condo developer that only does ny and toronto the other day... still bullish on both markets

Prices are insane... 3000 psf is standard for these guys... you want to see where ny is going check out prices in london

At the dude who inflated the canadian bubble telling folks as he leaves the country. Carney warns of retirement risks from inflated housing prices | CTV News

IDK man I understand hot money will always be apart of finance, but there is historical evidence from economists (specifically Ken Rogoff and Carmen Reinhart's work) that says hot money cannot prop up asset bubbles for an extended period of time.

 

[Liquid]

You think I'm an idiot because you think I don't understand this. I do. I just don't care about any of that. I don't care about wealth nor assets. Just not relevant to my life.

I was away for the weekend, but it appears that the others in this thread took care of you for the most part.

Oh and it is relevant to your life. You are just too short sighted and narrow to realize it right now. Ol' I want the freedom to move wherever I want ass, broke ass, living check to check because rent/food/bills is going up faster than raises ass bum.

I hate giving such hard advice on here, but shape up bro...seriously. You sound like a "free spirit" who wants the freedom to do whatever you want...you have to build assets to put yourself/your family in that position. I swear the lack of proper planning is why many of us are in this mess that we are in today

 

[The Electric Lady]

I was away for the weekend, but it appears that the others in this thread took care of you for the most part.

Oh and it is relevant to your life. You are just too short sighted and narrow to realize it right now. Ol' I want the freedom to move wherever I want ass, broke ass, living check to check because rent/food/bills is going up faster than raises ass bum.

I hate giving such hard advice on here, but shape up bro...seriously. You sound like a "free spirit" who wants the freedom to do whatever you want...you have to build assets to put yourself/your family in that position. I swear the lack of proper planning is why many of us are in this mess that we are in today

Who said anything about living check to check? I'm trying to get into grad school and work for Pixar. Maybe I get a house in the future, I dunno. But like I said, it'll probably be a townhouse. Talking about lack of proper planning when you know nothing about me.

You think I have a wish to live check to check because I said wealth isn't relevant to my life? Wealth and living comfortably are two different things. I never said I want to live check to check like some coke whore. However, I do not and will not place emphasis on my life's accomplishments on "wealth acquired." I find nikkas place too much emphasis on acquiring wealth and worldly possessions than they really need. Then you have MC Hammer and all these rappers and NBA players bankrupt because they have to buy EVERYTHING - shyt they don't need! - despite being filthy rich. Never said I want to live in squalor, but I'm good if I have a nice place to stay, a bed, some food, and a few worldly distractions. Then you come over here talking about wealth. Probably doesn't help that I have socialist leanings.

 

[mson]

This is neither here nor there but if you're black and live in Harlem you should try your best to own your property. I know a lot of Blacks own in Harlem already but I don't like this trend I'm seeing. Why would you give up a spot right in the middle of the financial capital of the world?

 

[BigMan]

This is neither here nor there but if you're black and live in Harlem you should try your best to own your property. I know a lot of Blacks own in Harlem already but I don't like this trend I'm seeing. Why would you give up a spot right in the middle of the financial capital of the world?

because you can't afford it. simple.

 

[The Electric Lady]

I was away for the weekend, but it appears that the others in this thread took care of you for the most part.

Oh and it is relevant to your life. You are just too short sighted and narrow to realize it right now. Ol' I want the freedom to move wherever I want ass, broke ass, living check to check because rent/food/bills is going up faster than raises ass bum.

I hate giving such hard advice on here, but shape up bro...seriously. You sound like a "free spirit" who wants the freedom to do whatever you want...you have to build assets to put yourself/your family in that position. I swear the lack of proper planning is why many of us are in this mess that we are in today

More proof you're full of shyt.

Why Your Home Is Not the Investment You Think It Is

Owning a home - investment or liability?

A Home is a Home, not an investment - don't treat it like one

A House is a Home, not an investment [NYT]

There's more where that came from.

Embrace your "wealth". If by wealth you mean poverty.

 

[TLR Is Mental Poison]

Who said anything about living check to check? I'm trying to get into grad school and work for Pixar. Maybe I get a house in the future, I dunno. But like I said, it'll probably be a townhouse. Talking about lack of proper planning when you know nothing about me.

You think I have a wish to live check to check because I said wealth isn't relevant to my life? Wealth and living comfortably are two different things. I never said I want to live check to check like some coke whore. However, I do not and will not place emphasis on my life's accomplishments on "wealth acquired." I find nikkas place too much emphasis on acquiring wealth and worldly possessions than they really need. Then you have MC Hammer and all these rappers and NBA players bankrupt because they have to buy EVERYTHING - shyt they don't need! - despite being filthy rich. Never said I want to live in squalor, but I'm good if I have a nice place to stay, a bed, some food, and a few worldly distractions. Then you come over here talking about wealth. Probably doesn't help that I have socialist leanings.

I agree that pursuing material goods is silly. But wealth? You can never have enough wealth. Granted I think there are limits to how far you should go to acquire it, but in no way is wealth an enemy. If I could leave my kids millions of dollars and still live a fulfilling life, why wouldn't I?

And a townhouse is no different from a regular house financially if they cost the same. So you basically agree that buying a house is a good thing.

 

[TLR Is Mental Poison]

More proof you're full of shyt.

Why Your Home Is Not the Investment You Think It Is

Owning a home - investment or liability?

A Home is a Home, not an investment - don't treat it like one

A House is a Home, not an investment [NYT]

There's more where that came from.

Embrace your "wealth". If by wealth you mean poverty.

Again, how is owning a house worse than renting in the long term? Are you saying its better to retire with a rent bill than retire with a house that's paid off?

 

[The Electric Lady]

Again, how is owning a house worse than renting in the long term? Are you saying its better to retire with a rent bill than retire with a house that's paid off?

Owning a home is not bad in itself. I just think, for the sake of practicality, many homes border on wastefulness. At my home, we have a dining room we use literally maybe only 3 times a year. We have a guest room that is never used. Even the family room is barely used. The whole thing just seems so wasteful to me, and even as a child I never understood the point of dumping so much money into over glorified bed rooms. Are you really getting your moneys worth when you buy a 400 thousand dollar home where more than half the rooms are not being used? I can't justify that. It's just not practical nor wise use of money.

This is why I like townhouses - they have the comfort of a home but without the excess waste. I'm also fond of condominiums and apartments for similar reasons. Since I have don't have interest in having children, I've never been shackled to the dream house thing, not once. If I do try to own a house, it will be a townhouse.

There's nothing wrong with it. It just doesn't fit my lifestyle, life philosophy, or thinking. I just don't like it when people judge me harshly for choosing not to want to own a home and suggest that because I don't, I'm only someone who wants to live check to check and can barely afford to live. I also think the idea that a home as an investment is a poor argument with poorly reasoned rationale but that's another story entirely.

 

[TLR Is Mental Poison]

Owning a home is not bad in itself. I just think, for the sake of practicality, many homes border on wastefulness. At my home, we have a dining room we use literally maybe only 3 times a year. We have a guest room that is never used. Even the family room is barely used. The whole thing just seems so wasteful to me, and even as a child I never understood the point of dumping so much money into over glorified bed rooms. Are you really getting your moneys worth when you buy a 400 thousand dollar home where more than half the rooms are not being used? I can't justify that. It's just not practical nor wise use of money.

This is why I like townhouses - they have the comfort of a home but without the excess waste. I'm also fond of condominiums and apartments for similar reasons. Since I have don't have interest in having children, I've never been shackled to the dream house thing, not once. If I do try to own a house, it will be a townhouse.

There's nothing wrong with it. It just doesn't fit my lifestyle, life philosophy, or thinking. I just don't like it when people judge me harshly for choosing not to want to own a home and suggest that because I don't, I'm only someone who wants to live check to check and can barely afford to live. I also think the idea that a home as an investment is a poor argument with poorly reasoned rationale but that's another story entirely.

You can always buy a smaller house too

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