Buffalo Rising Online

What a ridiculous study. Houses in Buffalo are much older than the average house in many metropolitan areas. So the existing houses typically need a ton of work to bring them up to condition of a new house. The new house may have a high-end kitchen with granite countertops. The old house may have an ugly 30-year-old kitchen that needs to be replaced (not to mention the need for near-term roof and boiler replacement, electrical upgrades, a new driveway and a whole host of other improvements). Was this factor taken into consideration?

Let's say a builder owned a double lot in Elmwood Village. Five years ago he built a house on one of the lots. Today he just finished an identcal house on the other lot and sold it for $300,000. Is the 5-year-old house only worth $210,000? Don't think so. But the 100-year-old house next door might be only worth $210,000 because it needs a ton of work!

Dumb, dumb, dumb.

that view is amazing.

It looks like it is from the top of those ugly apartments on Elmwood next to Utica.

How can this data surprise anyone? Those us us that are homeowners of older homes have known this forever. Take at look at the replacement costs on your insurance rider. There will be a major discrepancy between what you paid and what the replacement costs are. And with older homes, replacement costs are higher because most can't be built to old specs.

To me, this story sheds zero light on the obvious. The average home sale price in WNY is what, about $105,000. The cheapest new home sells for about $160,000 to $180,000 with zero character and zero "extras" (hardwood floors for example) that would be in an older home. So, the reality in WNY has always been and will always be that new homes sell for more than older homes and the replacement costs for older homes exceeds the sale price and, even more so, the assessed value.

Forbes magazine lists Buffalo among top 10 'Fastest-Dying Cities'

Updated: 08/06/08 1:48 PM

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* DYING, OR JUST DORMANT? Comment at Inside the News, 'We're not dead yet'

Buffalo has the less-than-flattering distinction of being named to Forbes magazine's list of America's Top 10 "Fastest-Dying Cities."

Forbes created its list of metropolitan areas facing rapid declines through analysis of census, unemployment and annualized gross domestic product (GDP) data. Buffalo's unflattering statistics included a population loss of nearly 42,000 since 2000, an unemployment rate of 5.7 percent (compared to national average of 4.3 percent) and a GDP of 1.9 percent.

"Buffalo has long been synonymous with city-in-decline. In the early 1900s, Buffalo was one of America's 10 largest cities, a burgeoning industrial center. It's been on decline ever since, despite a location that takes advantage of trade with Canada," the magazine explained.

It did note, however, Buffalo's bright economic assets include M&T Bank and Delaware North Companies. Mayor Byron W. Brown today insisted the Forbes list does not measure what's happening in the city today, claiming Buffalo is enjoying "record investment."

"There is no way Buffalo is a dying city," the mayor said.

He added that he plans to write to Forbes to provide data about the dozens of economic development projects that are under way, not to mention Buffalo's numerous credit-rating upgrades by Wall Street rating firms.

The Forbes list, Brown said, focuses on population decline. The exodus of people from Buffalo over the past 50 years can't be denied, but Brown said the trend is "slowing a bit."

"We see that as a very good sign," he said.

Other cities making the fast-dying list include: Cleveland, Dayton, Canton and Youngstown, Ohio; Flint and Detroit, Mich., Springfield, Mass.; Charleston, W.Va.; and Scranton, Pa.

How America loves a list. So much easier to stop thinking about an issue when you have a list.

I believe an economist at Forbes also mentioned that Buffalo's economy was the strongest/most promising of the cities with declining populations. The article in the News also points out that Erie County's population in certain age groups has increased, and that the overall rate of population loss has slowed.

Metaphors like "dying city" are useful in the cliche and headline-hungry world of American journalism. But the image of "dying" cities" is misleading. Almost every single Northern city (big and medium especially) is losing population; some at more acclerated rates than others. What the metaphor of the "dying" city doesn't convey are the many changes and adaptations all cities have to go through as they evolve. Some contract, some regionalize (amen!)and some just convalesce for a long time.

But Buffalo is not dying; it's evolving--there will still be hundreds of thousands of people in this metropolitan region a hundred years from now. The key will be in nurturing (or maybe seducing) new industries and business services (medical research and manufacturing for one); when these are grafted onto our mature cultural institutions, notable architecture and exceptional geography, we can stop planning our funeral .

about that news story of the BPD limiting information. Does anyone else find it rediculous that the news ran that story front page above the fold. If my house was burglarized i'd feel violated enough and wouldnt appreciate the media exploiting my misfortune. Actually, they should just get rid of crime reporting all together... what a downer to read (or watch) that crap. Besides, how does it actually help? Seems to me that it only creates hysteria and gives a bad image.

According to Forbes we lost population yet we actually produced more. Our GDP increased an annualized 1.9%.

Forbes should recognize that means that Buffalo is the model of a successful right sizing. We should get a prize.

Personally, I don't measure the success of a city by population growth (Can a million flies be wrong?); I measure success by productivity growth. Produce more and live better. Buffalo made a bigger and bigger pie and we have fewer mouths to have to share it with. Life is good.

Buffalo has had nearly full employment for many of the years in the report. We (Buffalo metro area) also enjoy being ranked #1 most diversified economy by Moody's. That is why we have one of the hottest top 10 real estate markets in the country right now.

Unless you are a tax collector, why on Earth would you want a population explosion? What an outmoded metric! And I don't buy the argument that we are loosing our kids. Statistics have shown that we no longer loose any more of our kids than average cities.

According to my insurance the replacement cost of my home is $350,000. Which kind of makes me want to light a match but then I look around and see all the wood trim, floors, tiger maple fireplace and all the other old world charm. Take for example this. My house is 24 feet wide by 64 feet long, each floor from floor to ceiling is 12 feet, with a full attic and basement. Try building a new build with the wood detail in my house and each floor being 1494 sq for under $350,000. Simply can't be done. This is why I am proud to live in Buffalo because i take pride in the beauty that other people here do as well.

As much as people complain about Buffalo....and housing...and jobs..and government (and the list goes on)

It reminds me of tourists to the caribean or africa or elsewhere poverty is endemic...and come back with the comment that they still manage to bathe, eat and have clean clothes...many white sunday linens....even though they live in shacks.

I say this because poverty is no excuse for not shoveling a sidewalk or sweeping a curb or cleaning a gutter or planting a tree or mowing a tiny lawn (much less planting a flower), or washed a window or even buying a $20 can of paint and painting your friggin pealing house.

I say this because when was the last time citizens demanded streets be repaved with new curbs and sidewalks, street lighting replaced, sewars and water mains upgraded

I say this because when was the last time people complained about say Buffalo State not expanding, or the NFTA not extending the light rail or the Buffalo Harbor not attracting new ships, or our city not investing in a new convention/conference center, or the delays in the Richardson, or our city not marketing our grain silos even when Katrina shut down the Mississippi River Port of New Orleans to grain exports, etc.

We Buffalonians are somewhat of a stupid lot....we are wonderful people...but stupid dumb-asses. Everywhere....and every opportunity we have the ability to invest in our city and in every case....we DO NOT...worse...every institution complains of not having enough money...but the truth is....they have the money but choose to spend it on buracracy and over-staffing people rather than on investing it so the private sector economy can grow.

I probably should have been a little bit clearer Crisa. The $350,000 was what they said the value would be for my home if it caught fire and was destroyed. I mistook this from replacement cost. My insurance agent was pretty up front with these numbers. For the actual cost to repair, you may be right that there is no exact number. This is why I choose a high deductible. In the ballpark of $1500. I figured the way this house was built I will only have to worry about something major IE a storm blowing a tree into my house or god forbid a floor collapsing. I figured the rest I can learn or do myself with friends. I think the one this that makes me enjoy Buffalo beside the people and its growing change are its old homes. The simply design of these homes create a feeling of togetherness that you won't get in the burbs. The simple fact that I live above someone and share my home with them makes me feel closer to them and my neighborhood. I'm not sure if this made any sense but I hope everyone understands what I am trying to say. The short- old homes and 2 family homes create a sense of community. haha After all that have a good morning everything.:-)

exactly what community would you like to have gated!?

Spaulding, why would you want to advocate for gated communities? They just segregate and create a feeling of snobbery in cities. I like being able to walk down any block I want.