Tag: new-york-city

1977 – 2 nicknames – 2 Manhattans

As a fruit, the apple thrives in diverse climates with varying conditions. While Manhattan, Kansas adopted its “The Little Apple” nickname, with a humble, playful nod to that larger, more famous “Apple” – New York City’s Manhattan – the smaller Manhattan’s adoption of its apple-inspired nickname was in many ways an ode to the resiliency of the apple, as a fruit.

Natural disasters. Economic downturns. Manhattan, Kansas. Kansas’s Manhattan certainly encountered its fair share of those. As such, the smaller Manhattan’s reference to New York’s larger “Apple“- coupled to that old lovable tale of the apple tree growing to surpass all realistic expectations in the Fall…after first encountering harrowing hardship in the Spring. The resiliency of the apple. Resiliency…just as much of an inspiration for “The Little Apple” nickname in Manhattan, Kansas as is that fun-filled nod to the larger “Apple” – New York City.

Two famous nicknames are coined…

Manhattan, Kansas first became known as “The Little Apple” in 1977. So in terms of famous nicknames, 1977 was a rather memorable year for both of the Manhattans, wasn’t it? The big one, and the little one.

Reggie Jackson becomes “Mr. October” in the bigger Apple in 1977 – as one nickname is coined – just as Manhattan, Kansas becomes “The Little Apple” in the smaller Manhattan in Kansas – as the 2nd nickname is coined. 1977. Two Manhattans. The formation of two famous nicknames. 1977.

“The Little Apple” – Back in 1855, a small group of New Englanders ventured west to found a free state. Arriving nearby what is now Junction City by way of the Kansas River, Manhattan, Kansas – “The Little Apple” – was incorporated in 1857.

Housing Inflation – Housing Permits: New York City

Fewer new housing permits were issued in NYC in the decade of the 2010’s than had been issued in NYC in the decade of the 1960’s. Think about that for a moment.

There were 400,000 fewer NYC residents in 1960 than there were in 2010. There were 1,000,000 fewer NYC residents in 1960 than there were in 2020 – one million. This NYC housing demand – housing supply imbalance is not sustainable. Limiting (or managing) NYC housing inflation just isn’t happening.

Free market proponents tend to argue that “the market” fixes market inefficiencies. Overall, not just in NYC. Maybe. Maybe not. In relation to NYC affordable housing, has the free market functioned effectively?

The free market has not been working well in relation to housing affordability. Not in NYC. Not beyond NYC. While the market has facilitated an expansion of real estate sales professionals, I would argue that too few of those sales professionals focus on business models that could reverse housing affordability problems. Even though, developing such a business focus could provide sales professionals with a very nice real estate niche. In NYC. Nationwide. That niche? Creating (and selling) more affordable homes.