Condo glut blues in Long Island City; Subway ridership hits record levels

I can’t wait to see how the brokers and developers spin this one.

Note to developers- spend less on those high-end finishes, and lower your per square foot price NOW before it gets really bad.

As for turning some of the vacant condos into subsidized middle income housing, I’d rather see the buildings get foreclosed than to see these developers get bailed out by the City Council…

There is no condo glut in LIC. People are still buying condos. Don’t be fooled by this tomfoolery.

I assume #’s 4 & 5 are joking.

There’s a finite number of people with $100k sitting in the bank right now waiting to buy a pad overlooking Queens Plaza or the pj’s.

It’s definitely been fascinating watching these shiny bldgs. spring up like manna, only to serve as a grim reminder of this crisis.

Maybe the condos will turn into sweet squatter lofts for shows and parties.

Could be, but my friends at Preparation H. told me that the idea, while a good one, had already been considered and rejected by the promotion dept, who incidentally held their informal meeting at the new place on Center Blvd with the funny name.

#2, “…spend less on those high-end finishes..” Are you kidding or do you kids really have no idea what quality can be? Ask any folks who finally settle into the buildings that have opened in the last few months if the damp sheet rock, the rusty pipes poking through the wall, and the peeling surfaces are quality finishes.

LIC seems to be the first community to go bust before it fully went boom. But at least we’ll have a Dunkin’ Donuts.

@14 That’s because they did not know when to stop developing. Just pulling up building after random building with no end in sight. It’s a landscape of what is really wrong with it all.
I wish this town all the best as I love it here, but things have to be reevaluated.

This thread sure was a good read of a lot of dumb commentary from people who like to talk about things they don’t know or understand.

13, the contractors have sucked for a long time. I could pass out from the pot smoking lunch breaks from the crews working on the waterfront. Several of the buildings inland have day workers with no supervision – not even hard hats. I’ve seen steel beams crudely damaged with hand tools when the shop cuts didn’t fit. I could go on but 18 thinks that no one here no what they are talking about.

#16 has it right on the money. Unfortunately there are still some heavy breathing drunken brokers milling about.

20, here’s some more dumb commentary: what’s wrong in LIC is what’s wrong with this country. No one takes pride in their work anymore. We hire surly and untalented people to build crappy things and take forever to do it, wasting countless amounts of money along the way. That’s why when I hear Obama talking about a nationwide program of building and infrastructure projects, I just get depressed. This ain’t FDR’s America anymore. We’ll have hundreds of unfinished Big Digs across the land, with nothing to show for it in the end but crushing debt.

people that really like what they do still take pride in their work and are paid accordingly. but some people go into construction simply because of the promise of large paychecks and because work was plentiful. those times are changing.

the real pros will still be in demand.

The real problem is the cost of labor costs and benefits, as demanded by labor unions. Why take pride in your work when you can’t be fired? Or if you get 2 minutes of break for ever 1 minute that you work? The whole system is et up for inactivity and inefficiency. they longer it takes the more we can bill. Unfortunately I agree with #22. This so call stimulus plan will be pissed away on ill conccieved projects that will go over budget and require 2x as much money to complete.

Organized Labor, with the aid of labor unions, helped build America. For the last upwards of thirty (30) years, labor unions have shattered our US manufacturing base; demanding more income and benefits for the worker(s). It is relevant to each of us to seek more income and benefits for our work on the job. So often, we all want to think we are underpaid. We must reevaluate ourselves and our US economy, thinking of others as well. My point is that the unions has made so many demands on industry for their own membership; millions of jobs have left America for other countries around the world. Consumers have realized the world market may provide more quality products at lower prices than some manufactured by Americans employed by labor union employees. A better American manufacturing base provides a stronger US economy for our workers.

Sometimes, I wonder if any and/or all activist labor union workers can or will look into the eyes of their own children, their grandchildren, their friends, and others to tell them that they, themselves, may have been the failing manufacturing problem of so many jobs losing America; demanding more salary increases and/or benefits.

So its a good thing that the auto industry is not competive and on the brink of bankrupcy because they have to pay people *not* to work? What bizzaro world does that make sense in? There was an article in the post the other day about a NYC librarian who has a $200K annual retirement NYS plan and a Park Avenue address. I guess that’s also cool. There is such hypocrisy onthis issue. Everyone looks the other way at wasteful spending as long as their pockets are being lined., but let the next guy get some money and everyone is up in arms.

single speed bikes and thrift shop clothing for everyone

Another problem with the unions is the ridiculous work rules. In construction, auto, teaching, etc., unproductive work rules raise costs and lower productivity.

32, so now you’re on a roll, let’s pile on teachers too. Poorly paid slaves who work like dogs every day in a low-status occupation — they are the cause of all our woes. Get lost, will you?

No one should be paid for doing nothing – Especially if the taxpayer is footing the bill. This applies for bankers , teachers, construction workers, fast food employees, etc.

Not piling on teachers, I’m criticizing unions, including teachers’ unions, for selfish unproductive work rules. Every teacher I know does not like their union leadership.
34- you must be an unproductive union worker being carried and protected by the work rules.

Hmm, jealous of higher income Wall Street workers I see . . .