Leaving New York City

[DooDiligence]

22 hours ago, rkbabang said:

 

This is the exact reason that upper management want everyone back to the office so badly.  They don't want to be home with their wives.   They want to walk among the cubicles of their underlings who at least pretend to respect them when they are around.   It's basically a boomer power trip.   As an engineer, I find that I love working from home (I actually like my wife) and I spend just as much time bull shitting with other engineers on video chat over teams as I did in the breakroom at work.   I'm not on a power trip (and no man becomes a chip designer to look for women at work, LOL there is about 200 men for every woman in the field).  I have no problem going into the office for an in-person meeting now and again, but I'll never work for someone who requires me to commute to work in a cubicle farm under florescent lights all day ever again. The power trip boomers who want fake respect and time to cheat on their wives are going to lose this battle, at least in tech fields.

 

Who knew that intrinsic motivation (autonomy, mastery & purpose) could be more appealing than compensation, punishment & reward?

[fareastwarriors]

Manhattan Rents Rise for the First Time Since Covid’s Early Days

 

https://www.bloomberg.com/news/articles/2021-10-14/manhattan-rents-rise-for-the-first-time-since-covid-s-early-days?srnd=premium

[Martian]

On 10/12/2021 at 11:16 PM, BG2008 said:

 

Passed?  Isn't this proposed? 

Proposed.

 

"If the bill is passed, existing buildings with 10 or more apartments would have until Jan. 1, 2026 to comply."

 

“Every New York City apartment comes with heat, hot water, electricity, and a phone line. It’s time to add Internet, so it is there and just works when a tenant moves in,” Kallos said in a statement.

https://therealdeal.com/2021/10/11/proposed-bill-would-require-landlords-to-pay-for-tenants-internet/?fbclid=IwAR0SRldi2J8YRS56t9LU1iC6AE9hItYqIRU_jZyqJPLd16m3uryOm390Vec

[rkbabang]

43 minutes ago, Martian said:

Proposed.

 

"If the bill is passed, existing buildings with 10 or more apartments would have until Jan. 1, 2026 to comply."

 

“Every New York City apartment comes with heat, hot water, electricity, and a phone line. It’s time to add Internet, so it is there and just works when a tenant moves in,” Kallos said in a statement.

https://therealdeal.com/2021/10/11/proposed-bill-would-require-landlords-to-pay-for-tenants-internet/?fbclid=IwAR0SRldi2J8YRS56t9LU1iC6AE9hItYqIRU_jZyqJPLd16m3uryOm390Vec

 

Why no A/C?   Also a butler.

 

[bizaro86]

Are electricity and phone service already included in NYC rent? Those are almost always tenant paid here.

[Mephistopheles]

4 minutes ago, bizaro86 said:

Are electricity and phone service already included in NYC rent? Those are almost always tenant paid here.

 Nope. So that quote from the article doesn't make any sense.

 

11 minutes ago, rkbabang said:

 

Why no A/C?   Also a butler.

 

 

And why not free rent? It's about time that landlords start not charging for rent.

[TwoCitiesCapital]

On 10/3/2021 at 10:58 AM, LC said:

Nobody wants to go to the office because everyone knows you can get the same job done in 35% of the time at home without all the office BS. 

 

 

LOL. The economy is doing just fine - despite empty office towers. So how useful are they, really?

 

CAN and DO are very different. I'm just as productive at home as before. I've got numbers and statistics to prove it. 

 

On the other hand, I have a lot of difficulty interfacing with coworkers when I need their cooperation on something - particularly when it's time sensitive and critical. 

 

Sometimes phone calls and emails go unanswered for hours on end even when it needs immediate attention. Over the last 18 months, there's been several times where I've escalated to managers and the request has also gone unanswered. 

 

This didn't happen in the office because I could just walk over to their desk. Now? They're not at the computer/phone/desk are walking their dogs, or napping, or taking care of their kids, or taking extended lunch breaks with friends, or whatever and not doing their jobs. 

 

Ultimately I like the idea of a flexible work arrangement being a permanent feature going forward. But there absolutely needs to be accountability for people NOT doing their jobs.

 

Also, as someone who is single and lives by himself - I'm starved for social interaction. I want to go back to the office just to have casual conversations again. Not sit in the same prison of an apartment, alone with my own thoughts, for another 18 months. 

 

As pointed out by others, if restaurants and bars are open, so should places of employment with some guidance on in-office/at-home work arrangements. 

Edited October 15, 2021 by TwoCitiesCapital

[Spekulatius]

The office I work in never closed down. Not a single day.

 

(Amongst other things, I support manufacturing operations).

[fareastwarriors]

Boomer Wealth Is Surging in Florida, Leaving Workers Behind

 

The state’s combination of aging population and lack of affordable housing makes it the “canary in the coal mine” for the rest of the U.S.

 

https://www.bloomberg.com/news/articles/2021-10-28/florida-baby-boomer-wealth-influx-risks-pricing-out-younger-locals?srnd=premium

 

The median sale price of a home in Sarasota County hit $407,000 in September, up almost 28% from a year ago, numbers from the Realtor Association of Sarasota and Manatee show. More than one-third of households in the county are “cost-burdened,” meaning they spend more than 30% of income on housing, says Thaxton, who’s also a former county commissioner. Rents were up 20% over last year as of this summer, according to a report in the Sarasota Herald-Tribune.

[Gregmal]

[fareastwarriors]

New York City rents jump 22.8% in November, as the rental market bounces back

 

The New York City rental market is regaining strength, according to the most recent rental report from Douglas Elliman and Miller Samuel.

 

In November, net effective median rent for Manhattan rose 16.7% compared with last year, the report found. 

 

“We’re in many ways shocked, and we’ve been too busy to even think about it,” Douglas Elliman CEO Scott Durkin told CNBC on Thursday.
 

https://www.cnbc.com/2021/12/09/new-york-city-rents-jump-22point8percent-in-november-as-rental-market-bounces-back.html

[Spekulatius]

 

[Gregmal]

^^ I feel like a lot of the people talking about this do so with a chip on their shoulder and a “see! Cities ain’t dead slant” as if there is some sort of vindication but the reality is quite simple….when your government shuts down everything that attracts people to the area there is no longer any reason to be there. Aaaaand, when it opens back up they’ll come back. That’s been the driver for pretty much every reopening play. 
 

Cities are not nearly as desirable when you can’t do anything. 
 

NYC without restaurants, bars, nightclub, broadway, sports, concerts and by association huge pools of singles looking to mingle….why would anyone want to be there? Let people do those things, and you’ll see recovery. Wasn’t and isn’t rocket science. Was quite easy to time from a trading perspective as well. Basically started for real this August or September. 
 

COVID just confirmed remote work was doable and remote work just means expensive city offices aren’t mandatory anymore. Which will be the lingering lesson from this whole thing; COVID put city office into the same category investing wise as a lot of brick and mortar retail. All the other shit just ebbs and flows the same as always.
 

 

[thowed]

1 hour ago, Gregmal said:

NYC without restaurants, bars, nightclub, broadway, sports, concerts and by association huge pools of singles looking to mingle….why would anyone want to be there? Let people do those things, and you’ll see recovery.

 

Yep, this has been the case in London too.

 

[cubsfan]

Yup, and add a very healthy dose of uncontrollable crime into the mix - and who the hell wants to rush back to the city. Checkout Chicago - people are now seriously scared to go downtown.

[Gregmal]

https://nypost.com/2021/12/16/nyc-lockdown-in-question-amid-rising-covid-19-cases/
 

Sink or swim NY….your choice. Do you want to continue experiencing the robust recovery the lower part of the US has already experienced or you wanna be like those idiots up North who are now back to banning fans from hockey games? Make your bed, lay in it. 

[Gregmal]

https://nypost.com/2021/12/24/cops-called-as-nyc-crowd-gathers-for-free-covid-19-tests/

 

LO-freakin L

 

who’d have thought we get to a point in society where there’s riots cuz folks need a testing kit to tell them how they feel? My gosh it’s pathetic.

imagine back in the day, going into work.
 

me: Hey John, how are you this morning

 

john: Good

 

me: idk man, have you gotten tested lately?

 

john: no, I feel good

 

me: yea but how do you know, you haven’t taken a test lately…

 

LOL again 

 

even Lebron is calling out the nonsense

 

https://www.instagram.com/p/CX4GnUfP0um/?utm_source=ig_embed&utm_campaign=loading

[Gregmal]

On cue, things are starting to inflect. 

 

https://nypost.com/2021/12/28/defiant-gothamites-show-covid-panics-days-may-finally-be-numbered/

 

[Spekulatius]

LOL:

 

[fareastwarriors]

  let the good times roll 

 

https://nypost.com/2022/02/08/cars-caviar-the-wildest-ways-wall-street-is-spending-bonuses/

 

The craziest ways Wall Street is spending this year’s record-setting bonuses

[Gregmal]

They should take their bonuses and buy some Florida real estate!

[fareastwarriors]

On 2/8/2022 at 9:02 AM, Gregmal said:

They should take their bonuses and buy some Florida real estate!

 

Do both!

 

That few thousand dollar dinner bill is not gonna stop you from buying RE, assuming the  bonus is fat enough

[fareastwarriors]

Wall Street bonuses climb to record $257,500 per worker last year, New York’s fiscal chief says

 

https://www.cnbc.com/2022/03/23/wall-street-bonuses-climb-to-record-257500-per-worker-last-year-new-yorks-fiscal-chief-says.html

 

That’s because Wall Street workers make almost five times the $92,315 average salary in the private sector excluding finance, according to the report. Securities workers saw overall compensation climb 7.7% to $438,370 for 2020, the latest data the comptroller had.

 

There were 180,000 workers in New York’s securities industry in 2021, roughly unchanged from the previous year but 10% below its peak twenty years ago. New York remains the country’s financial capital, although its share of finance jobs has fallen as firms create new offices in Florida, Texas and other low-tax states.

[Gregmal]

People from all over the world go to Florida for the white beaches and turquoise water. The majority of folks in NY don’t get this because they’re told white beaches are racist. 

[rkbabang]

6 minutes ago, Gregmal said:

People from all over the world go to Florida for the white beaches and turquoise water. The majority of folks in NY don’t get this because they’re told white beaches are racist. 

 

I support feminism and the LGBTQIAPKAHQWERTYUIOPASDFGHJKL movements by going to the pink sand beaches in Bermuda.