Where Are All These People Coming From?
ok.....so i can't go anywhere in brooklyn without seeing new construction. williamsburg, dumbo, atlantic/bklyn heights, downtown, south slope, etc...it all seems like one big condo development. so i have to ask - WHERE ARE ALL THESE PEOPLE COMING FROM? 300 new apts here, 300 more there...i don't get it.
Comments
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They watch Friends, Seinfeld, Law & Order and Sex & The City and move here. They come from anywhere there's a television set.
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Oiseau wrote: They come from anywhere there's a television set.
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Is the population of Brooklyn (and surrounding areas) growing at the same rate as this new development or are people who already live here just shuffling around?
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aren't all cities growing? maybe people should stop having children.
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vanilla wrote: aren't all cities growing? maybe people should stop having children.
I don't think children are the ones buying condos though.
If they are, we're having more trouble keeping up with the Joneses than I thought. -
The answer is: Manhattan and Jersey suburbs.
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Oiseau wrote: They watch Friends, Seinfeld, Law & Order and Sex & The City and move here. They come from anywhere there's a television set.
Those shows are set in Manhattan. Maybe they are watching 'Honeymooner' reruns? -
Subject: Re: Where Are All These People Coming From?
Guest wrote: ok.....so i can't go anywhere in brooklyn without seeing new construction. williamsburg, dumbo, atlantic/bklyn heights, downtown, south slope, etc...it all seems like one big condo development. so i have to ask - WHERE ARE ALL THESE PEOPLE COMING FROM? 300 new apts here, 300 more there...i don't get it.
I used to believe the Seinfeld/Friends analogy. I mean, there are definitely people who consider living in New York for 2-3 years as yet another stage in their life.
But there's another issue.
The U.S. dollar is quite weak. Which means most any foreign currency is worth much more here in NYC. Which is why you have a sudden surge of French, German and Japanese trust-fund kids coming to town. People who already have a wad of $$$ to play with but have a much higher spending power and buying power. And they are the ones building and buying and buying what others are building.
Strengthen the dollar and watch the housing market start to wane. -
Subject: Re: Where Are All These People Coming From?
Speaking as someone who came here to push up the local price of housing using Eurocredits, and make life harder for the rest of you, I can confirm this is totally correct.
The U.S. dollar is quite weak. Which means most any foreign currency is worth much more here in NYC. Which is why you have a sudden surge of French, German and Japanese trust-fund kids coming to town. People who already have a wad of $$$ to play with but have a much higher spending power and buying power. And they are the ones building and buying and buying what others are building.
Strengthen the dollar and watch the housing market start to wane.
Except we aren't trust-fund kiddies. Too much tax over there for people to have trust funds. We come to Brooklyn because we can't buy in Manhattan because only American trust-fund kiddies can afford it.
Oh, and salaries are higher and interest rates low here -- that has a lot to do with it... couldn't afford to buy in Europe.
Maybe it has something to do with free tertiary education in just about all other Western countries, which helps populate the professional class over here with foreigners as local firms can't recruit qualified local people. That and a culture of saving and scaping by rather than consuming.
Don't hold your breath for the USD to rise -- it's more likely to fall further, especially with respect to the East. For one thing, this economy is more oil dependent than most. And the entire system depends on the willingness of Eastern banks to continue to buy US debt to fund consumption. That can't go on indefinitely. -
Subject: Re: Where Are All These People Coming From?
Real estate nightmare wrote:
The findings from your focus group of one are duly noted.
Speaking as someone who came here to push up the local price of housing using Eurocredits, and make life harder for the rest of you, I can confirm this is totally correct.
The U.S. dollar is quite weak. Which means most any foreign currency is worth much more here in NYC. Which is why you have a sudden surge of French, German and Japanese trust-fund kids coming to town. People who already have a wad of $$$ to play with but have a much higher spending power and buying power. And they are the ones building and buying and buying what others are building.
Strengthen the dollar and watch the housing market start to wane.
Except we aren't trust-fund kiddies. Too much tax over there for people to have trust funds. We come to Brooklyn because we can't buy in Manhattan because only American trust-fund kiddies can afford it.
Oh, and salaries are higher and interest rates low here -- that has a lot to do with it... couldn't afford to buy in Europe.
Maybe it has something to do with free tertiary education in just about all other Western countries, which helps populate the professional class over here with foreigners as local firms can't recruit qualified local people. That and a culture of saving and scaping by rather than consuming.
Don't hold your breath for the USD to rise -- it's more likely to fall further, especially with respect to the East. For one thing, this economy is more oil dependent than most. And the entire system depends on the willingness of Eastern banks to continue to buy US debt to fund consumption. That can't go on indefinitely. -
vanilla wrote: aren't all cities growing? maybe people should stop having children.
One of the great unremarked demographic facts about the US is that we're still the fastest-growing industrialized nation on earth. Between now and 2050, the population of France will remain stable, the UK will grow a tad, and Russia, Japan, Germany, Italy and Spain will all decline. (That's assuming only mild expansions of their current immigration policies.)
The population of the US, on the other hand, is expected to rise from the current 290-and-change million to around 400 million in 2050. Because boomers will start dying off in large numbers in the out years of that period, the most rapid absolute growth will appear in the next couple of decades.
In short, that's gotta mean more apartment-building, not less, for a long time to come. -
rogersma wrote: [quote=vanilla]aren't all cities growing? maybe people should stop having children.
One of the great unremarked demographic facts about the US is that we're still the fastest-growing industrialized nation on earth.
True, although this is mostly because of immigration. Without immigration, our population would also be shrinking. -
Carnivore wrote:
Actually we're a pretty fertile country, too; birth-rate's recently edged up past replacement level and may be going higher. Plus we've got the biggest generation yet just entering adulthood, so there's no shrinking in sight for some time to come, even if immigration stops tomorrow.
True, although this is mostly because of immigration. Without immigration, our population would also be shrinking. -
rogersma wrote: [quote=Carnivore]
Actually we're a pretty fertile country, too; birth-rate's recently edged up past replacement level and may be going higher. Plus we've got the biggest generation yet just entering adulthood, so there's no shrinking in sight for some time to come, even if immigration stops tomorrow.
True, although this is mostly because of immigration. Without immigration, our population would also be shrinking.
In addition to directly adding to our numbers, immigrants also add to our fertility. The overall birthrate is elevated by the much higher birth rate in the immigrant community. Just as they have throughout our country's history, immigrants continue to make our country stronger. -
The thing that keeps the US economy afloat is consumerism and the housing market. For both of those you need lots of people. If you limit the number of people both will suffer and the US knows this. Immigration is an issue that is dead. No one will touch it. The cover of Business Week a few weeks ago had the headline "Embracing Illegals". I mean, give me a break. I just hope the next time I do something illegal I can say to the officer, "But I'm helping lower the working wage and destroy the unions while providing diversity."
Remember, they aren't doing the jobs Americans won't do, they are doing thye jobs Ameican's won't do for minimum wage (if they get paid that much). Pay a livable salary and anyone will do the work. Of course this would mean inflation as the cost of so many things would go up and we can't have that.
So in the end, as with so many things in this country, you just got to smile, because no matter how much you say, ain't nothing going to change. -
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