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(Slate)   Maybe it's time to address the true housing crisis in America: There are simply not enough high-end, several-hundred-million dollar apartments and other homes for the billionaire class to live a comfortable lifestyle   (slate.com) divider line 85
    More: Sad, public housed, New York, AMG, final goods, apartments, Business oligarch, New York City Council, Infiniti  
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4398 clicks; posted to Main » on 21 Nov 2013 at 1:43 PM (21 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-11-21 12:34:47 PM
nativejournalist.files.wordpress.com
I did the best I could damnit, before ingrate prols rejected my vision!!!
 
2013-11-21 12:52:01 PM
If only they had some way of getting those homes. If only they had some kind of fungible asset that they could use to lead an ostentatiously extravagant lifestyle.
The kind of asset that you could give to other people in exchange for letting you do basically whatever you want.
 
2013-11-21 01:17:02 PM
Some decades ago, in my then small town, a developer bought a chunk of salt swamp on the barrier island and turned it into a high end residential community for millionaires. Billionaires were not common back then.

With the average undeveloped lot in the area going for $10,000, these popped up to around $250,000. Average homes were running around $50,000 and those built there started at 1 million. Plus, residents of this place had to keep making millions, for if their income fell below a certain level, the HOA would buy their homes back at current prices and kick them out.

They could go be rich someplace else, just not there.

The result decades later?

Property taxes doubled across the city, the beautiful, tropical beaches suddenly became crowded with high end stores and apartments, property values exploded. Suddenly we had an unnecessary Polo Club, a Disney Resort, hundreds of acres of wonderfully undeveloped island property were plowed under and turned into high end homes. High end communities sprang up along the beaches, wiping out the wonderful areas of solitude the average citizen used to enjoy and the lagoon between the barrier island and the mainland became crowded with expensive boats.

Locally owned banks that used to know their clients by name vanished, to be replaced with a bunch of new ones who didn't give a hoot who you were and charged you for everything except walking in the door.

We started having bank robberies.

Within a couple of decades, the population of the city doubled, along with the COL. That average $50,000 home now goes for $110,000. That $10,000 lot can be $30,000. Prices rose in the stores and taxes increased as more and more of the infrastructure had to be repaired, built or overhauled to accommodate the exploding population.

We went from a Mayberry USA type local jail, to a huge, major prison, installed a juvenile detention center, tripled the police forces and the free ambulance service (one of the very first in the USA run by volunteers) got regulated to just basic patient transport while the fire department and some new, pay as you go ambulance services took over.

The fire department went from a small building down town staffed by volunteers, to several new extensions, with highly trained professionals.

The city police started spending a lot of their time patrolling the beach while the expanded Sheriffs Office covered the county.

Suddenly, we wound up with a live theater, a museum, tennis courts and walking paths on the barrier island where folks had enjoyed the wild woods, rich clam and oyster beds and great fishing spots.

Those were built over.

Local road traffic quadrupled. High end gated communities fought each other for space right up against the ocean, wiping out all of the previously wonderful seaside wild woods and traditional camping spots.

Pollution in the lagoon just exploded. We started having water shortages.

All because the very wealthy liked the local area. We now have what used to be the biggest truck stop in the US along I-95, close to 100 hotels and motels, and a famous, hand built, eccentric restaurant that served marvelous meals is now a Taco shack.

The last housing boom started building homes around 25% pricier than the norm and when it ended, what had been going for $100,000 wound up stopping at $120,000.

Mainly because the wealthy discovered my sleepy, pleasant little Florida town.

I wish they hadn't.
 
2013-11-21 01:46:01 PM
It has nothing to do with millionaires or billionaires -- if housing supply is too low in an area, that affects everybody.
 
2013-11-21 01:46:55 PM
img.fark.net
 
2013-11-21 01:47:43 PM
San Francisco is already on board with this bullsh*t, and it's driving prices up everywhere. It's f*cking insane. Rent control doesn't mean sh*t when the cafe down the block is selling unclef*cking toast for 4 goddamn dollars.
 
2013-11-21 01:48:29 PM
They built a bunch of high rise million dollar apartments in my city about a decade ago. They're basically empty....
 
2013-11-21 01:49:40 PM
"Wouldn't it be great if we could get all the Russian billionaires to move here?"

No.  It wouldn't be great.
 
2013-11-21 01:49:43 PM
It's interesting to see the politicians all giddy about the tax revenue. Yet we all KNOW the uber rich don't pay taxes.
 
2013-11-21 01:51:18 PM

Heamer: San Francisco is already on board with this bullsh*t, and it's driving prices up everywhere. It's f*cking insane. Rent control doesn't mean sh*t when the cafe down the block is selling unclef*cking toast for 4 goddamn dollars.


I have the recipe, if you need it.
 
2013-11-21 01:51:28 PM

Rik01: Mainly because the wealthy discovered my sleepy, pleasant little Florida town.


Naples?
 
2013-11-21 01:52:04 PM

mrsleep: It's interesting to see the politicians all giddy about the tax revenue. Yet we all KNOW the uber rich don't pay taxes.


Not income taxes, maybe, but I'm not aware of any tax shelters for property taxes.
 
2013-11-21 01:52:20 PM

Rik01: Some decades ago, in my then small town, a developer bought a chunk of salt swamp on the barrier island and turned it into a high end residential community for millionaires. Billionaires were not common back then.

With the average undeveloped lot in the area going for $10,000, these popped up to around $250,000. Average homes were running around $50,000 and those built there started at 1 million. Plus, residents of this place had to keep making millions, for if their income fell below a certain level, the HOA would buy their homes back at current prices and kick them out.

They could go be rich someplace else, just not there.

The result decades later?

Property taxes doubled across the city, the beautiful, tropical beaches suddenly became crowded with high end stores and apartments, property values exploded. Suddenly we had an unnecessary Polo Club, a Disney Resort, hundreds of acres of wonderfully undeveloped island property were plowed under and turned into high end homes. High end communities sprang up along the beaches, wiping out the wonderful areas of solitude the average citizen used to enjoy and the lagoon between the barrier island and the mainland became crowded with expensive boats.

Locally owned banks that used to know their clients by name vanished, to be replaced with a bunch of new ones who didn't give a hoot who you were and charged you for everything except walking in the door.

We started having bank robberies.

Within a couple of decades, the population of the city doubled, along with the COL. That average $50,000 home now goes for $110,000. That $10,000 lot can be $30,000. Prices rose in the stores and taxes increased as more and more of the infrastructure had to be repaired, built or overhauled to accommodate the exploding population.

We went from a Mayberry USA type local jail, to a huge, major prison, installed a juvenile detention center, tripled the police forces and the free ambulance service (one of the very first in the USA run by vol ...


My mom told me that, when she was very little, my grandparents drove down to Miami with her to visit my grandmother's sister and camped out at beaches along the way. She said it was amazing. Anyway, similar stuff has happened to the piney woods and little rivers around here. More strip malls, big box store complexes, subdivisions, etc. The trees Katrina didn't take out, development has, and the rivers are more polluted.
 
2013-11-21 01:52:28 PM

CapeFearCadaver: They built a bunch of high rise million dollar apartments in my city about a decade ago. They're basically empty....


Are you actually in the Cape Fear area?
 
2013-11-21 01:53:42 PM
Funny, I thought what we really needed is more affordable homes for people living off the scraps of the wealthy.
 
2013-11-21 01:54:12 PM

Lollipop165: CapeFearCadaver: They built a bunch of high rise million dollar apartments in my city about a decade ago. They're basically empty....

Are you actually in the Cape Fear area?


No, not really....
 
2013-11-21 01:56:14 PM

Heamer: San Francisco is already on board with this bullsh*t, and it's driving prices up everywhere. It's f*cking insane. Rent control doesn't mean sh*t when the cafe down the block is selling unclef*cking toast for 4 goddamn dollars.


If only there were some device one could use to convert raw bread into glorious toast, without going through a middleman.
 
2013-11-21 01:56:16 PM

Arkanaut: Not income taxes, maybe, but I'm not aware of any tax shelters for property taxes.


Friends on the assessment board?
 
2013-11-21 01:57:15 PM
en.ria.ru
 
2013-11-21 02:00:32 PM
This is good news.  I'm just about to be ready to start accepting clients for my home design business.  It would make my bank account very happy to get a rich sucker I mean client right away.
 
2013-11-21 02:03:56 PM
Here in Erotic City, a Cargill heir bought a $10MM, 8,500 Sq. FT, Giurgola-designed home on Lake Minnetonka and plans to tear it down and build a much better home.
 
2013-11-21 02:04:03 PM
blogs-images.forbes.com

"Spare some change for the 2nd-homeless?"
 
2013-11-21 02:05:37 PM
These stories remind me of my hometown Naples, FL.  I was very happy to leave there, I can't stand going back.  Where the Ritz Carlton stands now is where we used to have parties on the beach.
 
2013-11-21 02:09:15 PM

CapeFearCadaver: Lollipop165: CapeFearCadaver: They built a bunch of high rise million dollar apartments in my city about a decade ago. They're basically empty....

Are you actually in the Cape Fear area?

No, not really....


Heh - now that the Rodney Richepigge has discovered Wilmington, what used to be a very affordable and pleasant town has become an absolute pain in the ass, and many of the older downtown businesses are going under due to taxes and all the usual devices used by city councils (zoning changes, etc) to run off "undesirable elements" like low-cost diners.

RIP Dixie Diner, and the tattooed love girl waitresses.

/and I hear the Barbary Coast, where Steve Bucemi and Vincent Vaughn got into a beef with some locals, is in tax trouble
 
2013-11-21 02:11:29 PM
Trickle-down real estate?
 
2013-11-21 02:11:38 PM
So, what they're saying is...

The rent is too damn low!
 
2013-11-21 02:13:22 PM
As someone who works for America's #1 Luxury Home Builder I'm getting a kick out of this thread. Overtime.
 
2013-11-21 02:13:28 PM
I swear, every time there's a plan to build new apartments around where I live, it's always called "upscale" that only the rich can afford, as if the city planners dread the idea of building anything less expensive, since that will somehow result in crackheads moving in to sit at home all day, looking at food stamps on the Internet.
 
2013-11-21 02:13:49 PM
freakoutnation.com

Who would want to live in a used apartment anyway? Poor people?
 
2013-11-21 02:16:10 PM

Rik01: Some decades ago, in my then small town, ...


That is a disgusting story, and I'm sorry you've had to witness it first hand...I live in a place that sometimes teeters on similar threats. Lexington, KY is the Horse Capitol of the World...billionaires from around the globe have purchased many of the iconic (and incredibly beautiful) horse farms in the area. Though there is occasionally talk of trying to attract more of those kinds of folks, it's usually tempered with a lot of locals proclaiming that we don't want to become some other place.

On the other hand, though, it is hard to imagine how building a few more ultra luxury apartment buildings in New York is going to wreck anything. The article doesn't seem to suggest wholesale razing of Manhattan neighborhoods to accomodate a couple of oligarchs. If the city stands to triple or quadruple real estate tax revenues on a block, and the city receives an influx of billionaire idiotic-spending cash, there has to be a balancing point where it is indeed a good thing to encourage more billionaires to buy a local pad.

The group who have bought farms here are quiet and almost invisible, save for the custom 747s that occasionally line up at the local airport (the ruler of Dubai always brings two, one for him, one for his wives, or so the story goes). They DO, however, spend an incredible sum of money here, mostly on horses. This helps our horse farms acheive better cash flow, and they employ thousands of grooms, trainers, vets, groundskeepers, etc. Those are pretty good jobs, for the most part.

This is a long way of saying that it is not bad to attract the ultra-wealthy and their money, but you have to be careful not to sell your soul in the process.
 
2013-11-21 02:29:08 PM

Rik01: Some decades ago, in my then small town, a developer bought a chunk of salt swamp on the barrier island and turned it into a high end residential community for millionaires. Billionaires were not common back then.


That is so cool that you're a Farker, I read all your books.

sarahroxanneshields.files.wordpress.com
 
d23 [TotalFark]
2013-11-21 02:31:04 PM
www.slate.com

Corporate rimjob expert.
 
2013-11-21 02:32:07 PM
Matt's always been a fan of this; let the market decide how much housing there should be, and if there are places where a lot of people want to live, let a lot of housing units be built so they can bloody well live there.

Getting lots of rich (or even middle-class) people to live somewhere should have job-creation effects as now you need more baristas, nurses, cops, etc. But if housing supply is too restricted, they get priced out of the market (see: Silicon Valley).
 
2013-11-21 02:33:09 PM

beezeltown: Rik01: Some decades ago, in my then small town, ...

That is a disgusting story, and I'm sorry you've had to witness it first hand...I live in a place that sometimes teeters on similar threats. Lexington, KY is the Horse Capitol of the World...billionaires from around the globe have purchased many of the iconic (and incredibly beautiful) horse farms in the area. Though there is occasionally talk of trying to attract more of those kinds of folks, it's usually tempered with a lot of locals proclaiming that we don't want to become some other place.

On the other hand, though, it is hard to imagine how building a few more ultra luxury apartment buildings in New York is going to wreck anything. The article doesn't seem to suggest wholesale razing of Manhattan neighborhoods to accomodate a couple of oligarchs. If the city stands to triple or quadruple real estate tax revenues on a block, and the city receives an influx of billionaire idiotic-spending cash, there has to be a balancing point where it is indeed a good thing to encourage more billionaires to buy a local pad.

The group who have bought farms here are quiet and almost invisible, save for the custom 747s that occasionally line up at the local airport (the ruler of Dubai always brings two, one for him, one for his wives, or so the story goes). They DO, however, spend an incredible sum of money here, mostly on horses. This helps our horse farms acheive better cash flow, and they employ thousands of grooms, trainers, vets, groundskeepers, etc. Those are pretty good jobs, for the most part.

This is a long way of saying that it is not bad to attract the ultra-wealthy and their money, but you have to be careful not to sell your soul in the process.


My assumption here is that many rich people don't have to work in an office anymore, and ruining a community in Kentucky is much cheaper and easier than razing a building in Manhattan.  I don't know things for sure, but I imagine knocking down a smallish corner building in Manhattan and rebuilding would cost a ton and yield much less of a profit.  I'd also be sure it's harder to pay off local NYC zoning officials since they're more likely already paid for.
 
d23 [TotalFark]
2013-11-21 02:33:47 PM

Gaseous Anomaly: Matt's always been a fan of this; let the market decide how much housing there should be, and if there are places where a lot of people want to live, let a lot of housing units be built so they can bloody well live there.

Getting lots of rich (or even middle-class) people to live somewhere should have job-creation effects as now you need more baristas, nurses, cops, etc. But if housing supply is too restricted, they get priced out of the market (see: Silicon Valley).


So bus the farkers in at the end of bayonets.

But, whatever you do, don't pay them fair market wage!
 
d23 [TotalFark]
2013-11-21 02:36:45 PM

mrsleep: It's interesting to see the politicians all giddy about the tax revenue. Yet we all KNOW the uber rich don't pay taxes.


It's worse than that.  They benefit directly from places getting tax abatements.  The tax abatements are to encourage jerbs, but the jobs are paying so little that their employees have to apply for welfare, which is yet more corporate welfare though the back door.

In this way a good number of rich people are paying NEGATIVE taxes.
 
2013-11-21 02:46:05 PM

tricycleracer: Rik01: Mainly because the wealthy discovered my sleepy, pleasant little Florida town.

Naples?


Destin?
 
2013-11-21 02:46:49 PM
 
2013-11-21 02:52:10 PM

Heamer: San Francisco is already on board with this bullsh*t, and it's driving prices up everywhere. It's f*cking insane. Rent control doesn't mean sh*t when the cafe down the block is selling unclef*cking toast for 4 goddamn dollars.


Maybe you need food price controls too. And shoe price controls, and cell phone price controls, and ... well, basically subject all prices to government scrutiny and don't allow changes unless applied for and authorization is granted.
 
2013-11-21 02:52:27 PM

Rik01: Some decades ago, in my then small town, a developer bought a chunk of salt swamp on the barrier island and turned it into a high end residential community for millionaires. Billionaires were not common back then.

With the average undeveloped lot in the area going for $10,000, these popped up to around $250,000. Average homes were running around $50,000 and those built there started at 1 million. Plus, residents of this place had to keep making millions, for if their income fell below a certain level, the HOA would buy their homes back at current prices and kick them out.

They could go be rich someplace else, just not there.

The result decades later?

Property taxes doubled across the city, the beautiful, tropical beaches suddenly became crowded with high end stores and apartments, property values exploded. Suddenly we had an unnecessary Polo Club, a Disney Resort, hundreds of acres of wonderfully undeveloped island property were plowed under and turned into high end homes. High end communities sprang up along the beaches, wiping out the wonderful areas of solitude the average citizen used to enjoy and the lagoon between the barrier island and the mainland became crowded with expensive boats.

Locally owned banks that used to know their clients by name vanished, to be replaced with a bunch of new ones who didn't give a hoot who you were and charged you for everything except walking in the door.

We started having bank robberies.

Within a couple of decades, the population of the city doubled, along with the COL. That average $50,000 home now goes for $110,000. That $10,000 lot can be $30,000. Prices rose in the stores and taxes increased as more and more of the infrastructure had to be repaired, built or overhauled to accommodate the exploding population.

We went from a Mayberry USA type local jail, to a huge, major prison, installed a juvenile detention center, tripled the police forces and the free ambulance service (one of the very first in the USA run by vol ...


You sound like the protagonist of a Carl Hiaasen novel.
 
2013-11-21 02:54:42 PM

Rik01: Some decades ago, in my then small town, a developer bought a chunk of salt swamp on the barrier island and turned it into a high end residential community for millionaires. Billionaires were not common back then.

With the average undeveloped lot in the area going for $10,000, these popped up to around $250,000. Average homes were running around $50,000 and those built there started at 1 million. Plus, residents of this place had to keep making millions, for if their income fell below a certain level, the HOA would buy their homes back at current prices and kick them out.

They could go be rich someplace else, just not there.

The result decades later?

Property taxes doubled across the city, the beautiful, tropical beaches suddenly became crowded with high end stores and apartments, property values exploded. Suddenly we had an unnecessary Polo Club, a Disney Resort, hundreds of acres of wonderfully undeveloped island property were plowed under and turned into high end homes. High end communities sprang up along the beaches, wiping out the wonderful areas of solitude the average citizen used to enjoy and the lagoon between the barrier island and the mainland became crowded with expensive boats.

Locally owned banks that used to know their clients by name vanished, to be replaced with a bunch of new ones who didn't give a hoot who you were and charged you for everything except walking in the door.

We started having bank robberies.

Within a couple of decades, the population of the city doubled, along with the COL. That average $50,000 home now goes for $110,000. That $10,000 lot can be $30,000. Prices rose in the stores and taxes increased as more and more of the infrastructure had to be repaired, built or overhauled to accommodate the exploding population.

We went from a Mayberry USA type local jail, to a huge, major prison, installed a juvenile detention center, tripled the police forces and the free ambulance service (one of the very first in the USA run by volunteers) got regulated to just basic patient transport while the fire department and some new, pay as you go ambulance services took over.

The fire department went from a small building down town staffed by volunteers, to several new extensions, with highly trained professionals.

The city police started spending a lot of their time patrolling the beach while the expanded Sheriffs Office covered the county.

Suddenly, we wound up with a live theater, a museum, tennis courts and walking paths on the barrier island where folks had enjoyed the wild woods, rich clam and oyster beds and great fishing spots.

Those were built over.

Local road traffic quadrupled. High end gated communities fought each other for space right up against the ocean, wiping out all of the previously wonderful seaside wild woods and traditional camping spots.

Pollution in the lagoon just exploded. We started having water shortages.

All because the very wealthy liked the local area. We now have what used to be the biggest truck stop in the US along I-95, close to 100 hotels and motels, and a famous, hand built, eccentric restaurant that served marvelous meals is now a Taco shack.

The last housing boom started building homes around 25% pricier than the norm and when it ended, what had been going for $100,000 wound up stopping at $120,000.

Mainly because the wealthy discovered my sleepy, pleasant little Florida town.

I wish they hadn't.


Marco Island?
 
2013-11-21 03:01:08 PM

Nana's Vibrator: beezeltown: Rik01: Some decades ago, in my then small town, ...

That is a disgusting story, and I'm sorry you've had to witness it first hand...I live in a place that sometimes teeters on similar threats. Lexington, KY is the Horse Capitol of the World...billionaires from around the globe have purchased many of the iconic (and incredibly beautiful) horse farms in the area. Though there is occasionally talk of trying to attract more of those kinds of folks, it's usually tempered with a lot of locals proclaiming that we don't want to become some other place.

On the other hand, though, it is hard to imagine how building a few more ultra luxury apartment buildings in New York is going to wreck anything. The article doesn't seem to suggest wholesale razing of Manhattan neighborhoods to accomodate a couple of oligarchs. If the city stands to triple or quadruple real estate tax revenues on a block, and the city receives an influx of billionaire idiotic-spending cash, there has to be a balancing point where it is indeed a good thing to encourage more billionaires to buy a local pad.

The group who have bought farms here are quiet and almost invisible, save for the custom 747s that occasionally line up at the local airport (the ruler of Dubai always brings two, one for him, one for his wives, or so the story goes). They DO, however, spend an incredible sum of money here, mostly on horses. This helps our horse farms acheive better cash flow, and they employ thousands of grooms, trainers, vets, groundskeepers, etc. Those are pretty good jobs, for the most part.

This is a long way of saying that it is not bad to attract the ultra-wealthy and their money, but you have to be careful not to sell your soul in the process.

My assumption here is that many rich people don't have to work in an office anymore, and ruining a community in Kentucky is much cheaper and easier than razing a building in Manhattan.  I don't know things for sure, but I imagine knocking down a smallish corne ...


It is harder to get here from Russia, Dubai, etc. We have fewer amenities, restaurants, and less high-end nightlife. Location is a luxury, and Manhattan is where the billionaire jet-set types want to be. Other places have been "ruined", like Aspen, Jackson Hole, Naples, and I'm sure dozens of other beautiful, formerly "sleepy" places.

My "hope" is to live in a unique, beautiful place, that does have a good smathering of culture, restaurants, things to do, access to the outdoors, and that is economically thriving, without being overrun by rude-ass folks from other places who want desparately for the "quirks" in this locality to be ironed out to their liking. I like the quirks, and the manageable traffic, and running into familiar faces almost everywhere I go in the city and surrounding areas. I like having multiple universities, multicultural offerings, relatively low cost of living, and a pretty big collection of good-to-great jobs available. I like being able to jump in the car, drive 30-60 minutes, and be able to wade into a more or less wild creek or river to go fishing, or hit a trailhead for a casual hike, or head to my family's farm in the middle of nowhere, with no cell signal and nights dark enough to REALLY see the Milky Way.

Anyway, this is obviously a sensitive topic for many people. "Ruining" something great is a tragedy. "Sharing" it can be okay. This country sends a lot of wealth overseas buying all kinds of goods and services. Bringing that wealth back is challenging, but necessary. Designating an acre or two, covered with "luxury" buildings offering astronomically-priced apartments to individuals coming to the country to spend enormous sums of cash, seems like a pretty good investment of space.
 
2013-11-21 03:03:08 PM

MadMonk: These stories remind me of my hometown Naples, FL.  I was very happy to leave there, I can't stand going back.  Where the Ritz Carlton stands now is where we used to have parties on the beach.


Yeah, but when I go back home to where it sucked, it still sucks.  I'll take your parties on the beach over my drinking behind the insulation factory..
 
2013-11-21 03:24:04 PM
i71.photobucket.com
 
2013-11-21 03:25:50 PM

Rik01: Some decades ago, in my then small town, a developer bought a chunk of salt swamp on the barrier island and turned it into a high end residential community for millionaires. Billionaires were not common back then.

With the average undeveloped lot in the area going for $10,000, these popped up to around $250,000. Average homes were running around $50,000 and those built there started at 1 million. Plus, residents of this place had to keep making millions, for if their income fell below a certain level, the HOA would buy their homes back at current prices and kick them out.

They could go be rich someplace else, just not there.

The result decades later?

Property taxes doubled across the city, the beautiful, tropical beaches suddenly became crowded with high end stores and apartments, property values exploded. Suddenly we had an unnecessary Polo Club, a Disney Resort, hundreds of acres of wonderfully undeveloped island property were plowed under and turned into high end homes. High end communities sprang up along the beaches, wiping out the wonderful areas of solitude the average citizen used to enjoy and the lagoon between the barrier island and the mainland became crowded with expensive boats.

Locally owned banks that used to know their clients by name vanished, to be replaced with a bunch of new ones who didn't give a hoot who you were and charged you for everything except walking in the door.

We started having bank robberies.

Within a couple of decades, the population of the city doubled, along with the COL. That average $50,000 home now goes for $110,000. That $10,000 lot can be $30,000. Prices rose in the stores and taxes increased as more and more of the infrastructure had to be repaired, built or overhauled to accommodate the exploding population.

We went from a Mayberry USA type local jail, to a huge, major prison, installed a juvenile detention center, tripled the police forces and the free ambulance service (one of the very first in the USA run by vol ...


Thats why I never give cookies to mice
 
2013-11-21 03:31:49 PM
Come to Bethesda, dinky little townhouses starting from the several millions. Tiny things they are.
 
2013-11-21 03:35:35 PM

d23: [www.slate.com image 129x92]

Corporate rimjob expert.


Why settle for corporate when you can go to the expert?

img.fark.net
 
2013-11-21 03:35:36 PM

The Pope of Manwich Village: Here in Erotic City, a Cargill heir bought a $10MM, 8,500 Sq. FT, Giurgola-designed home on Lake Minnetonka and plans to tear it down and build a much better home.


ooOOO Cargill money. Tasty the wheat-y goodness.

At least he is makin jerbs? Idk.
 
2013-11-21 03:41:21 PM

Gaseous Anomaly: Getting lots of rich (or even middle-class) people to live somewhere should have job-creation effects as now you need more baristas, nurses, cops, etc. But if housing supply is too restricted, they get priced out of the market (see: Silicon Valley).


Yglesias's opinion is that all the riff-raff should consolidate into denser and taller apartment towers.  Which is not entirely unreasonable.  Especially since many working-class people have less physical shiat (e-books, digital files, flat TVs).  And can't afford to have kids any more.  Of course, this begs the "who's going to buy megastores worth of crap if 90% of us are living in 700 sq ft rabbit warrens?" question, but that's for something else.

The problem with either denser population or bringing in the service-workers from further afield... either one requires building more transit.  Which we've kinda sucked at for the last 40 years and ain't nobody willing to pay for.  I'm ambivalent about Chris Christie, as Republicans go, but hate the fact that he set Jersey back by at least a decade on improved access to NYC and sits like a lump on any progress still.  Northern NJ rust-holes could be riding the gentrification wave a lot more than they are now.
 
2013-11-21 03:44:24 PM
memeslide.com
 
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