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Author Topic: condos on the way  (Read 6767 times)

Offline Harlan

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Re: condos on the way
« Reply #15 on: September 11, 2006, 11:42:48 AM »
Yes, I am a dreamer....  I'd probably be happier in a house.  No maintenance costs there.

?!?! Except for replacing the roof every 20 years, cleaning the leaves out of the gutters twice a year, painting periodically, dealing with cracks in the foundation, upgrading the electrical service as necessary, fixing corroded plumbing, mowing the lawn, replacing the driveway, etc, etc...!

Maintenance in a co-op/condo is just that, maintenance. Except that you as the apartment owner don't have to deal personally with it. (Unless you're on the maintenance committee of the board.)

(I think maintenance usually also covers property taxes, legal fees, staff, etc., too... Plus operating costs for lighting/heating common areas...)

Unless you live in a cave, living somewhere costs money, and not just upfront, but on an ongoing basis as well. You pay for it either in your rent, in your maintenance payment, or out of pocket, but it's gotta get paid for...

Offline daisy

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Re: condos on the way
« Reply #16 on: September 11, 2006, 11:48:35 AM »
I'll crawl back into my hole now.  Geez.    :-(

Offline mcdirk

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Re: condos on the way
« Reply #17 on: September 11, 2006, 12:19:48 PM »
The prices just rise and rise, it's impossible to keep up with them.  Where do all these wealthy people come from who are raising the prices?  I'm relatively happy with my apartment, but I would be much happier with one more room (it's either that or learn to be less of a packrat).  I cringe when I hear about how much one bedrooms are renting for in Astoria and the "affordable" housing, which I generally think is a good thing, is either for the very poor or for people who make a heck of a lot more than I do.  No one seems to be building for the folks in the middle anymore.

Offline goldfish boy

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Re: condos on the way
« Reply #18 on: September 11, 2006, 01:09:31 PM »
Everyone else just has to deal or move away I guess   :-P

Ever since I read a news story last week about relatively affordable housing markets, I've been wondering what life would be like if I moved to Indianapolis...you can buy a house for $80,000!
"Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind.” - Dr. Seuss

Offline Jonathan

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Re: condos on the way
« Reply #19 on: September 11, 2006, 01:13:59 PM »
Ever since I read a news story last week about relatively affordable housing markets, I've been wondering what life would be like if I moved to Indianapolis...you can buy a house for $80,000!

I think the word you are wondering about is BORING.  You know why houses in Maimi arent $80,000?  Its not boring there.

On the other hand you could by 4 houses and rent them to fun and exciting people. Yet again why would they want to move there, its boring.

(preceeding opinion not intended to insult or degrade people from the city of Indianapolis.)


Offline Gleason

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Re: condos on the way
« Reply #20 on: September 11, 2006, 01:34:13 PM »
mcdirk, I think the upward pressure on rents stems from a warped market: one family or one person is not expected to live in a single apartment. The market rents are geared for multiple dwellers in each unit, be it several families living together, or a number of college grads sharing space. With the non-existant code enforcement, absentee landlords are creating this perverted market.

It was like this 100 years ago in the Lower East Side and Harlem where landlords took advantage of people by hiking up rents to astronomical levels. Rent parties are part of the legend of Harlem's early years.

The point I like is that 'affordable housing' is a fantasy. It can only help a few thousand people each year and simply moves the savings from 'affordable rent' to increased taxes to pay for the infrastructure costs.

Making 'housing affordable' through lower taxes and bringing in good paying jobs helps everyone pay their rent easier or get a better place - without a cent to infrastructure.

Offline anzubird

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Re: condos on the way
« Reply #21 on: September 11, 2006, 02:18:04 PM »
The prices will come down, they are already on their way down. Maybe not so much in the new developments- that will happen once the developers start to realize that no one is buying- but the prices of existing units are going down, and apartments are remaining on the market longer. The rising interest rates are certainly not encoraging people to buy. All in all, the development is not sustainable, but it will take a little time for people to realize that. 

Unfortunately however, I have serious doubts it will ever be possible to buy a house in NYC for 80,000 (at least not until we have to devalue our curency due to absurd inflation)

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Re: condos on the way
« Reply #22 on: September 14, 2006, 02:20:10 PM »
omg gatorboy

i actually didnt read what was posted, but i saw the title and knew he'd post in here.

Offline mcdirk

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Re: condos on the way
« Reply #23 on: September 14, 2006, 03:12:38 PM »
anzubird, from your mouth to god's ears!  I hope you're right!

Offline billyboy

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Re: condos on the way
« Reply #24 on: September 14, 2006, 03:17:13 PM »
The prices will come down, they are already on their way down.

I hope you're right about that -- I have no idea how this stuff works, save it tends to loosely follow national trends.  Rents in Ditmars right now are just unbelievable compared to 10 years ago -- and I guarantee you most of us aren't making twice as much as money as we were then.  In my mind, this is one of the greater crimes going on now in America, much less Astoria: real estate and rental values far out-stripping any sort of wage increases.  I grew up in rural America watching guys who worked in gas stations buy houses -- not anymore.  All I know is that if I have to leave my place for any reason, it's hello Sunnyside or Rego Park!

Astoria right now reminds me of Hoboken, NJ circa the mid-80s.  It had been a working-class town for decades, then boom, the town exploded almost overnight in terms of being designated as a hip place to live, rents and real estates sky-rocketed, and this hasn't really stopped since, although I've gathered the town has plateaued at some level where you need to be an investment banker to move there, unless you want five roommates in a three-bedroom apartment.

There are a lot of really nice/cool things going in Astoria right now, but it feels like a double-edged sword in terms of how much it does and will cost to live here.

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Re: condos on the way
« Reply #25 on: September 15, 2006, 05:00:59 PM »

Offline Chris

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Re: condos on the way
« Reply #26 on: March 23, 2009, 09:58:25 AM »
Far be it for me to rain on anyone's parade, but the word "luxury" is overused in real estate development.   I was out for my jog this weekend and couldn't get across 21st Street so I decided to go down 21st instead of trying to cross it to get home and noticed that the two new apartment buildings on the west side of 21st Street next to Newtown Ave. are rising fast and furious.   The bigger of the two developments is the one right on the corner where the gas station used to be is not as far along as the slim building right next door, which looks to be nearing completion or is closer to completion that its neighbor.   What struck me is that the almost completed building has a sign outside calling the units "luxury."  It looks like a nice building, but calling it "luxury" is a bit of a stretch, especially for a building on a relatively non-descript block such as the one it sits on.   

Offline jenriet

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Re: condos on the way
« Reply #27 on: March 23, 2009, 09:42:04 PM »
Far be it for me to rain on anyone's parade, but the word "luxury" is overused in real estate development. 

I completely agree. There is a 'luxury' building going up on 35th St. between Astoria Blvd. and 28th Avenue. It's located across the street from the police station, is completely surrounded by much smaller (and older) apartment buildings, and doesn't even have that many amenities. For heaven's sake, it's going to have a "virtual" doorman. What IS that?? How does that count as luxury??

Offline CW

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Re: condos on the way
« Reply #28 on: March 23, 2009, 09:42:53 PM »
I'll bet it has a luxury price.

Offline bstewart

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Re: condos on the way
« Reply #29 on: March 23, 2009, 10:05:30 PM »
I'll bet it has a luxury price.
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