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    benjaminalloverHamilton Nolan
    8/05/16 11:29am

    Not everyone can live in New York City, even if they want to really badly, and are very, very special.

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      Flying Squid (I hate me more than you do.)benjaminallover
      8/05/16 11:30am

      Sometimes I think Hamilton honestly believes that once you leave the confines of the New York Metropolitan Area, you step into an empty void through which no life or information can pass.

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      MBCockbenjaminallover
      8/05/16 11:31am

      That’s why I commute from Camden.

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    Ed SpockHamilton Nolan
    8/05/16 11:27am

    This article reminds me of a joke I heard all the time growing up.

    “Buying a home is one of the best investments you can make.”

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      pre-emptive sighEd Spock
      8/05/16 11:32am

      Buying a home only makes sense if you have kids old enough to make mow the lawn and stuff. Otherwise it’s a pain in the ass do all that stuff yourself.

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      Ed Spockpre-emptive sigh
      8/05/16 11:35am

      Or you make enough to have people do it for you.

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    gilbertkittensHamilton Nolan
    8/05/16 11:29am

    Detroit?

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      Ed Spockgilbertkittens
      8/05/16 11:34am

      In some areas of Detroit you can get a 5,000 square house for around a $100.

      That’s not $100K BTW..........

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      Mistergilbertkittens
      8/05/16 11:37am

      My home just outside the city limits as gone from being worth 65k in 2009 to 110k today. And the ‘burb I live in isn’t exactly the most desirable.

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    pre-emptive sighHamilton Nolan
    8/05/16 11:26am

    Pictured: The world outside of New York City

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      Sobchak Securitypre-emptive sigh
      8/05/16 11:28am

      Close, but that guy should probably be fatter.

      And I don’t see any truck nuts on his ride. 7/10 ‘Muricas.

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      toothpetardSobchak Security
      8/05/16 11:32am

      0/10 flags

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    Pink SkullHamilton Nolan
    8/05/16 11:30am

    Man I’m not sure how a household earning $55K can afford to eat in NYC, much less own property.

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      HerbertHasCandyPink Skull
      8/05/16 11:44am

      I could see it if that property is a dumpster.

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      HoldMeCloserTonyDanzigPink Skull
      8/05/16 11:57am

      Outer Queens, Northern Bronx - those places you look down on in bewilderment and think “this place is a shithole” as you ride the elevated portion of the 7 out to Citifield.

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    KumichoHamilton Nolan
    8/05/16 11:34am

    “People don’t need to own homes in an expensive place like NYC,” you say? Fine. If fewer people own homes, then more people rent.

    Or....... you could move somewhere else. Fewer workers (and fewer people willing to move to the area) would mean that companies would be forced to raise salaries to attract (and retain) workers, and it would *also* mean that there would be more housing in relation to people. Lower housing prices due to lower demand, and higher salaries.

    The housing market (and the labor market) are both free-market enterprises to a certain extent. Salaries are lower than they could be solely because people are willing to work for them. Housing prices are higher than they could be because people are willing to pay them.

    As long as people are willing to pay $500k for a tiny apartment while only making $80k/year, there will be a) people willing to sell them that tiny apartment for $500k and b) companies willing to hire them at $80k/year.

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      Peter ThielKumicho
      8/05/16 11:36am

      Shh shh shh no no. Mustn't use the F.M. words around here. Lest we let reality infiltrate our little socialist bubble.

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      BurningSpearKumicho
      8/05/16 11:47am

      Counterpoint: No, all these people need to get out of my city. Goddamn immigrants from the Midwest / Southeast. Some of us were born here. I say we build a wall.

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    Richard M TysonHamilton Nolan
    8/05/16 11:32am

    I can’t wait for the “move to somewhere affordable” crowd to come in. Okay, but in those places you make less money as well so the problem isn't totally solved. Portland housing prices have risen 12.5 % THIS YEAR! It's crazy out there folks. Best to rent a small box and hope for the end times.

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      smrknd2Richard M Tyson
      8/05/16 11:45am

      As someone who does live somewhere more affordable and does make less money as a result (about 50% less, based on the last time I looked at similar positions to my own in Boston) we spend 13% of our gross household income on the mortgage. I may make 50% less, but housing is way less than 50% of what it is in more expensive coastal cities. And it takes me 15 minutes to get to work.

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      keverdeneRichard M Tyson
      8/05/16 11:56am

      I make twice as much in my small town career than I did in any of my big city jobs. And I’m happier, and my cost of living is half what it would be in the city.

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    The Shape of Punk to ComeHamilton Nolan
    8/05/16 11:27am

    Just wanted to get in this in before the obvious comments start.

    No, there is literally nothing outside of NYC. Everything outside of NYC is a inbred cesspool that smells like stale beer and KFC farts. We know its there, but unless its got a beach, we’re never going to give a shit.

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      Low Information BoaterThe Shape of Punk to Come
      8/05/16 11:33am

      There are lakes in my city, that people kayak and canoe on, and ride bikes around. It's disgusting!

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      The Shape of Punk to ComeLow Information Boater
      8/05/16 11:36am

      If I wanted to swim in a lake, I can always just stick my feet in the toilet.

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    ReburnsABurningReturnsHamilton Nolan
    8/05/16 11:27am

    Almost half of NYC homeowners spend more of their income than the 30% threshold that is considered “affordable.” The numbers don’t lie.

    Keep in mind that this percentage is somewhat skewed by the relatively high volume of high earners in New York city.

    If you take home $250,000 a year, spending even half of your income on your housing payment leaves you with plenty of residual income to live on.

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      DCDougReburnsABurningReturns
      8/05/16 11:35am

      By “high earners” you mean the 1% right? If you are in this group go shit in a hat and be quiet.

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      Rowen (Paid Politcal Shill)ReburnsABurningReturns
      8/05/16 11:35am

      Yeah, but you have to factor in parking for both of your cars and private school and nannies for your three kids. It’s just so hard! *eye roll*

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    jzmacdaddyHamilton Nolan
    8/05/16 11:37am

    F*ck New York. Who would want to live there (permanently) anyway? Visiting is all I can tolerate. How about live somewhere where $114k is a pretty good household income and cen get you a really NICE house. I live just outside the Columbu,OH metro area and there are a TON of nice houses in nice towns within a stones throw of a large city like Columbus. You can OWN a (less than 20 year old) 3000 sq ft house around here for $1100 a month.

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      ghostandgoblinjzmacdaddy
      8/05/16 12:54pm

      Who would want to live there (permanently) anyway?

      Because I’d rather live in a city than outside Columbus?

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      HoldMeCloserTonyDanzigghostandgoblin
      8/05/16 1:01pm

      No, not Columbus. He said Columbu, which incidentally has a thriving volleyball scene.

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