Your information is correct in general, but there are many exceptions that prove the grandparent correct. My apartment was built in the last 10 years (i.e., after 1970), rents for close to $4k, and IS rent stabilized. See information here:
Do tell me how your $4k apartment rental, at nearly 3 times the national average rent and above market for most of NYC, is the scourge of housing markets, forcing rents up for everyone and preventing new construction.
Because that's what rent regulation's detractors are arguing, even though your empirical evidence (and mine) suggest the opposite. That's the context we're discussing this in.
I'm not sure you even know my opinion on rent control from this interaction. You asked a very specific question:
> is the scourge of housing markets, forcing rents up for everyone and preventing new construction.
The tax abatements obviously fuel new construction and bring in a new class of rent control to NYC. Is that a good thing? Or a bad thing?
I don't claim to know, but this type of apartment definitely filled a need for myself and others who want decently managed apartments without worrying about spontaneous jumps in rent (i.e. if Amazon had moved out here). And obviously, we're not the crowd of people totting around kids, barely making ends meet but at the end of the day, I still have to go to work to pay rent or I'm screwed with the rest of them...so it's nice to at least know that my taxes (tax breaks) bought me some stability.
PS: these buildings are also required to set aside a number of units for lower income residents, which again, I'm happy to pay taxes towards.
I didn't care about your specific opinion on rent control because you didn't express one, I'm saying that your comments to give counter-evidence to what I was saying didn't even have any context in the discussion and will be used as fuel for the anti-regulation people that I said don't know what they're talking about.
You basically injected a non-sequitur into the discussion and are using it to start an argument, which is silly, because I believe rent regulation is a necessary evil.
/edit never mind, I get it. I actually think you're taking this a little too close to heart. I may be guilty of having missed your sarcasm, but I was addressing a point you inadvertently made. That's not the same as looking for a fight.
Hey no worries. Sorry, I do take this very close to heart as I grew up extremely poor and I owe a lot to the fact that I had rent control growing up. This is a pretty inflammatory topic on HN in general and I have a long history of being flamed into oblivion every time it comes up.
Lotta contempt for the poor on here, but this thread has actually been a rare exception. Might be the only set of posts that don't have 30 downvotes attached to them.
So the cost to buy/sell a $1mm apartment could be in the range of $110,000 after broker fees and all taxes are accounted for. An apartment at that price would rent for maybe $4k for month, though that will rise at a faster price over 30 years than a fixed mortgage + common charges. Unless the value rises at a pace much faster than the rate of inflation, you're going to lose money if you don't hold on to the place for a few years. See this fun calculator to find the inflection point:
Qlik was sold to Thoma Bravo, a private equity firm, about two years ago for $3B.
Not sure if that's a relative bargain compared to this deal or if it makes the $15.7B look totally unrealistic. As of a few years ago the total revenue of the two firms wasn't that different.
I've heard that Thoma Bravo specializes on re-selling assets. If that's true then the $15bln sticker on Tableau should only justify and boost their intention to re-sell Qlik.
> Wrong. NASA funding now is high as it was during avg. appollo years.
That's not a true statement, unless you're talking about non-adjusted nominal dollars (that while technically true, is somewhat misleading). In inflation adjusted terms, the current budget is less than half of what it was during the Apollo years. Expressed as a percent of the federal budget, current funding is 1/8th of what it was at its max, though that's largely a function of the growth of non-discretionary federal spending.
"Amazon has filed a patent for a shipping system designed to cut delivery times by predicting what buyers are going to buy before they buy it — and shipping products in their general direction, or even right to their door, before the sales click even (or ever) falls."
Realistically they were looking at items added to your cart but not yet purchased, and moving them to a closer distribution center in case you purchased.
Yes. In 2016 the FTC stopped Shinola from claiming their watches were "made" in America. Much more accurately they were "assembled" in America (Detroit) from foreign parts [1].
I entirely agree with the FTC, their claims were dishonest. As a point of comparison, Switzerland regulates what percentage of the watch must be Swiss before it can be claimed to be "Swiss," but it's not an easy question. For example, with completely made up numbers, low wage Chinese manufacturer sells mostly finished movement for $20 that required 4 hours to make. High wage Swiss assembler puts in another hour, at a cost of $40. Total time is 5 hours, 80/20 Chinese/Swiss and total cost is 60, 33/67 Chinese/Swiss. From time perspective, it's a Chinese watch, but from cost perspective it's Swiss.
Also of interest, Malcolm Galdwell's podcast* "Revisionist History" had an excellent episode on CTE in football. He made an analogy to smoking. Evidence had long suggested that smoking was dangerous, but it was only that -- evidence, not hard proof. Evidence continued to pile up, but so did the counter evidence (primarily from tobacco firms and those they funded). At what point do we say -- OK, maybe the evidence isn't 100%, but isn't there enough evidence to suggest something is wrong?
thats sad on so many levels of course, but least comprehensible at all is:
>With electricity so cheap that most residents use it to heat their homes, the city’s consumption exceeded its allocation on several days, Mr. Read explained. As a result, the Municipal Lighting Department had to purchase additional power at much higher prices — a cost it spread across its customers.
The machines are generating heat (and cryptocurrency) from electricity the locals were using to generate heat... At least they could have co-located the machines with the locals in a way that heat can be exchanged with inside and outside, and a meter measuring energy consumption when heat is directed inside...
The least wasteful form of mining is by replacing electric heaters with mining rigs, but that's not what happened here, it's more like going to the library to fetch some books because you ran out of toilet paper...
thanks for sharing the article
there's lots of similarities in this article with the Georgia one: besides the local economic depression, in both articles they also mention the local prison and the local casino...
it's really a shame they're not even trying to be creative:
for example why not use the heat to pasteurize milk? co-locate the miners with the pasteurization plants
even better: desalinate water to steam, use the steam to heat the milk and the milk to cool the steam, now you have desalinated water AND pasteurized milk...
but oh no, that would actually create a job for a couple of people to work it out and change the plants and negotiate and discover similar opportunities...
Richard Pevear/Larissa Volokhonsky, a husband and wife team who have been translating Russian novels for close to 30 years. Having read most of Dostoevsky's works, some their translations, some others, I highly recommend their translations when available.
Those two are fantastic, largely because they don't translate. Rather they re-write the works in the target language that both of them speak extremely well.
https://www1.nyc.gov/site/rentguidelinesboard/resources/rent...
Specifically:
"Also, some newly constructed buildings may be stabilized due to a 421-a or J-51 tax exemption even if the rent is $2,000 or more."
A program that a significant number of developers have taken advantage of.