2015 Biglaw Boneus Thread Forum

[Big Shrimpin]

bone us

(fresh page poast masterman)

[Monochromatic Oeuvre]

Is that even true? Seniors make more now than in 2006, adjusting for inflation? I don't know what types of goods/services are used for calculating CPI, but it's hard to believe given how rents have nearly doubled in places like NYC and SF since 2006...

EDIT: Yeah, by the sixth year you're making more than '06, inflation-adjusted.

I think he was asking w/r/t spending power in an NYC or SF, in particular, which I also would have a harder time believing.

NYC hasn't increased all that much more than the national CPI. It's not like things were all that much cheaper in 2006.

SF has gone a little more haywire since 2006, so yeah, pretty much anything in the 2015 Bay Area is shitty.

[krads153]

Is that even true? Seniors make more now than in 2006, adjusting for inflation? I don't know what types of goods/services are used for calculating CPI, but it's hard to believe given how rents have nearly doubled in places like NYC and SF since 2006...

EDIT: Yeah, by the sixth year you're making more than '06, inflation-adjusted.

I think he was asking w/r/t spending power in an NYC or SF, in particular, which I also would have a harder time believing.

NYC hasn't increased all that much more than the national CPI. It's not like things were all that much cheaper in 2006.

SF has gone a little more haywire since 2006, so yeah, pretty much anything in the 2015 Bay Area is shitty.

Rent has gone up a ton in NYC - much more than in other places barring maybe the Bay Area....e.g., an apartment costing 2600 a mere 5 years ago is now 3600+....I think NYC will be completely unliveable except for the legit wealthy in another 5-10 years at this rate unless everyone is willing to cram 4 to an apartment. Some guys I know in real estate think that real estate in NYC is going to go down in a couple of years though (thank god). I mean, honestly, who would pay 5k for a one bed apartment? Anyone?

[Anonymous User]

Median income in NYC is about the same as the national level. New York is expensive, but the idea that it's somehow only for some kind of uber elite is just nonsense.

[krads153]

Median income in NYC is about the same as the national level. New York is expensive, but the idea that it's somehow only for some kind of uber elite is just nonsense.

Something like 1.1 million of NYC apartments are rent stabilized (so let's say at the very least, a couple million NYCers live in those, probably more assuming there are families). And I'm sure oldies who bought 20 years ago are fine, as well as people in rent controlled apartments (dunno the number for those). But for anyone who is a newcomer who can't qualify for NYCHA housing or whatever, you're probably screwed unless you can get a rent stabilized apt or are willing to live in the ghetto.

http://nypost.com/2015/06/17/new-york-c ... t-control/

[Monochromatic Oeuvre]

Is that even true? Seniors make more now than in 2006, adjusting for inflation? I don't know what types of goods/services are used for calculating CPI, but it's hard to believe given how rents have nearly doubled in places like NYC and SF since 2006...

EDIT: Yeah, by the sixth year you're making more than '06, inflation-adjusted.

I think he was asking w/r/t spending power in an NYC or SF, in particular, which I also would have a harder time believing.

NYC hasn't increased all that much more than the national CPI. It's not like things were all that much cheaper in 2006.

SF has gone a little more haywire since 2006, so yeah, pretty much anything in the 2015 Bay Area is shitty.

Rent has gone up a ton in NYC - much more than in other places barring maybe the Bay Area....e.g., an apartment costing 2600 a mere 5 years ago is now 3600+....I think NYC will be completely unliveable except for the legit wealthy in another 5-10 years at this rate unless everyone is willing to cram 4 to an apartment. Some guys I know in real estate think that real estate in NYC is going to go down in a couple of years though (thank god). I mean, honestly, who would pay 5k for a one bed apartment? Anyone?

I think people have forgotten how crazy the '06/'07 real estate bubble was.

Average Manhattan studio, 2006: $1,995

EDIT: A different report gives $2,738, which would be an increase of 37.2%. So it depends on the metric and timing, but definitely Manhattan rents have gone up past inflation.

[krads153]

^The more complicated picture is how rent stabilized/controlled apts skew affordability in NYC since people in those apartments likely cling onto them for as long as possible. Average incomes and rents don't even tell the whole story at all, and especially not for newcomers to NYC. Not to mention NYC has a pretty decent welfare program and a lot of people get help with NYCHA housing, etc.

[Desert Fox]

[Big Shrimpin]

stop with the derailing regarding MFH rents

BONE US BONE US BONE US

[anonnymouse]

stop with the derailing regarding MFH rents

BONE US BONE US BONE US

Scrimps spittin truth. This is what the BIGBREAKFAST cabal wants: senseless infighting among pleb associates so we're distracted from the fact that every passing hour without an announcement brings us closer to NOBONUS BONE US.

Stop talking about rent, start talking about lateraling to secondary markets where your salary actually means something. You don't have to mean it, you just have to say it.

[Big Shrimpin]

i can't WAIT for the SINKING feeling of NOBONUSES

should we ask DONALD TRUMP to petition the cabal for the NOBONUSES memo?

[AReasonableMan]

Median income in NYC is about the same as the national level. New York is expensive, but the idea that it's somehow only for some kind of uber elite is just nonsense.

It's the fact with a sub-300k salary you'll never own anything, and the fact that >50% of residential property being rent stabilized annihilates the middle class.

[Diplock1]

You don't have to mean it, you just have to say it.

Works for all parts of life.

[El Pollito]

BONE US BONE US BONE US

[Big Shrimpin]

BONE US BONE US BONE US

tis better to be BONED than to have never been BONED at all?

[Monochromatic Oeuvre]

Median income in NYC is about the same as the national level. New York is expensive, but the idea that it's somehow only for some kind of uber elite is just nonsense.

It's the fact with a sub-300k salary you'll never own anything, and the fact that >50% of residential property being rent stabilized annihilates the middle class.

Y'all really need a new benchmark for living in NYC. You people could cop large homes in good neighborhoods for $700k in Westchester or $500k in Queens (assuming you paid a little for private and your kid isn't too TTT for Stuy), but instead everyone here has to confront the STRUGGLE of not being able to afford a 3BR in the Village two blocks away from Whole Foods, Soulcycle, and that adorable litle wine bar they've been meaning to check out.

[anyriotgirl]

Median income in NYC is about the same as the national level. New York is expensive, but the idea that it's somehow only for some kind of uber elite is just nonsense.

It's the fact with a sub-300k salary you'll never own anything, and the fact that >50% of residential property being rent stabilized annihilates the middle class.

Y'all really need a new benchmark for living in NYC. You people could cop large homes in good neighborhoods for $700k in Westchester or $500k in Queens (assuming you paid a little for private and your kid isn't too TTT for Stuy), but instead everyone here has to confront the STRUGGLE of not being able to afford a 3BR in the Village two blocks away from Whole Foods, Soulcycle, and that adorable litle wine bar they've been meaning to check out.

if by in Queens you mean like bayside or jamaica or something, seriously what is even the point

[krads153]

Median income in NYC is about the same as the national level. New York is expensive, but the idea that it's somehow only for some kind of uber elite is just nonsense.

It's the fact with a sub-300k salary you'll never own anything, and the fact that >50% of residential property being rent stabilized annihilates the middle class.

Y'all really need a new benchmark for living in NYC. You people could cop large homes in good neighborhoods for $700k in Westchester or $500k in Queens (assuming you paid a little for private and your kid isn't too TTT for Stuy), but instead everyone here has to confront the STRUGGLE of not being able to afford a 3BR in the Village two blocks away from Whole Foods, Soulcycle, and that adorable litle wine bar they've been meaning to check out.

if by in Queens you mean like bayside or jamaica or something, seriously what is even the point

Right, and your commute to and from work would be like 3 hours a day...wtf is the point. Might as well move to flyover (better than Queens), pay less for everything, and have a <20 minute commute to work.

[legends159]

Right, and your commute to and from work would be like 3 hours a day...wtf is the point. Might as well move to flyover (better than Queens), pay less for everything, and have a <20 minute commute to work.

Unfortunately, you can't get a job in flyover though because law degree is not portable.

[SemperLegal]

Median income in NYC is about the same as the national level. New York is expensive, but the idea that it's somehow only for some kind of uber elite is just nonsense.

It's the fact with a sub-300k salary you'll never own anything, and the fact that >50% of residential property being rent stabilized annihilates the middle class.

Y'all really need a new benchmark for living in NYC. You people could cop large homes in good neighborhoods for $700k in Westchester or $500k in Queens (assuming you paid a little for private and your kid isn't too TTT for Stuy), but instead everyone here has to confront the STRUGGLE of not being able to afford a 3BR in the Village two blocks away from Whole Foods, Soulcycle, and that adorable litle wine bar they've been meaning to check out.

if by in Queens you mean like bayside or jamaica or something, seriously what is even the point

Right, and your commute to and from work would be like 3 hours a day...wtf is the point. Might as well move to flyover (better than Queens), pay less for everything, and have a <20 minute commute to work.

Have y'all heard of Jersey?

[Monochromatic Oeuvre]

Median income in NYC is about the same as the national level. New York is expensive, but the idea that it's somehow only for some kind of uber elite is just nonsense.

It's the fact with a sub-300k salary you'll never own anything, and the fact that >50% of residential property being rent stabilized annihilates the middle class.

Y'all really need a new benchmark for living in NYC. You people could cop large homes in good neighborhoods for $700k in Westchester or $500k in Queens (assuming you paid a little for private and your kid isn't too TTT for Stuy), but instead everyone here has to confront the STRUGGLE of not being able to afford a 3BR in the Village two blocks away from Whole Foods, Soulcycle, and that adorable litle wine bar they've been meaning to check out.

if by in Queens you mean like bayside or jamaica or something, seriously what is even the point

Rego Park, Jackson Heights, Forest Hills etc. 45 minutes to Midtown. Plenty in the $500k range.

[TLSModBot]

I assume since everyone's talking about where they're buying houses that bonuses were announced and they were huge. Good job everyone! We did it!

[mvp99]

guys this is us in 5 years... I'm living in Philly

http://edition.cnn.com/2015/08/07/trave ... -commuter/

[Internetdan]

guys this is us in 5 years... I'm living in Philly

http://edition.cnn.com/2015/08/07/trave ... -commuter/

hyperloop bro, it's coming. But really if they would just get high speed here like every other civilized country and China you could do Baltimore to Penn Station in an hour and a half.

[Anonymous User]

guys this is us in 5 years... I'm living in Philly

http://edition.cnn.com/2015/08/07/trave ... -commuter/

People already commute from Philly to NYC. Hell I knew of people at Penn Law who lived in Manhattan and commuted down for classes.