Recent comments in /f/jerseycity

Jahooodie OP t1_j8lgbzo wrote

Reply to comment by mooseLimbsCatLicks in Remote Work Is Costing Manhattan More Than $12 Billion a Year by Jahooodie

And yet that's Mayor Adams' latest in the quest for housing. But yeah it may sound good but the infastructure isn't as straightforward as it may seem. Also things converted into a house tend to stay that way, and I'm just curious because alot of NYC's history of rebirth is on industrial/office space becoming the birth of the new age.

https://gothamist.com/news/mayor-adams-unveils-plans-to-turn-nyc-offices-into-20000-new-apartments

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Blecher_onthe_Hudson t1_j8lfqxl wrote

Reply to Remote Work Is Costing Manhattan More Than $12 Billion a Year by Jahooodie

I expect this to simply become a cycle like most property and business cycles. The problem is been there has rarely been serious retractions in the price of real estate in the city. If it drops a serious percentage, like 30%, there are people and businesses who would find it attractive and there would be an up swing. As it was before covid, New York City had priced itself out of reality for many. It was a situation ripe for disruption.

The city budget is a different issue, the waste, poor choices, corruption and mismanagement create a situation where everything costs far, far more than it should. Perhaps a crisis is just what is needed to reassess the status quo of budgeting.

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Jahooodie OP t1_j8lfobo wrote

Reply to comment by mooseLimbsCatLicks in Remote Work Is Costing Manhattan More Than $12 Billion a Year by Jahooodie

>They will just rise anywhere near transit

what happens with literal sea level rise? I kinda am medium confident NYC will figure out walls or something when push comes to shove, but like do you really see Hudson County will get together and collab to figure out a comprehensive plan

counterpoint: areas of Miami on the precipice of getting fucked still somehow have prices going up and major banks still certifying mortgages sometimes so EHHHHHH

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pixel_of_moral_decay t1_j8l8jww wrote

Reply to comment by bodhipooh in Remote Work Is Costing Manhattan More Than $12 Billion a Year by Jahooodie

It’s a fake financial problem.

The state could just rollback all the tax breaks the upper class have gotten for decades paid for by the rest of us.

Reality is either way there will be budget issues. Even if the city got tons of money from people returning to offices the rich are going to want more tax breaks and that’s going to bleed it dry.

So this is really just a discussion over taxation of the wealthy.

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