Why is A.C. in the shape it is?

With neighboring shore towns thriving perhaps this video will help explain the utter chaos, corruption and out right incompetence that have plagued A.C. for decades.
http://video.dailycaller.com/Atlantic-City-council-fight-29109785

Never going to change IMO, always is always. It is the element and the basis.

Quote: dave12038457

With neighboring shore towns thriving perhaps this video will help explain the utter chaos, corruption and out right incompetence that have plagued A.C. for decades.
http://video.dailycaller.com/Atlantic-City-council-fight-29109785

"thriving" is a giant stretch for those other communities, don't you think?

Quote: rdw4potus

"thriving" is a giant stretch for those other communities, don't you think?

Especially for those still trying to recover from the extensive losses of the storm years ago.

Are more towns thriving in all of America now or are more towns drowning?

D.W. Griffith's 1915 version:

Quote: Intheknow

Are more towns thriving in all of America now or are more towns drowning?

Compared to when? The odd thing is that AC has been going down during the economic recovery. Since 2010, AC is much worse while other places are trending up from drowning to thriving.

Neighboring shore towns such as Brigantine, Ventnor, Margate, Longport are thriving.

my theory has always been if the casinos or the state would have stepped in and bought out the slums.. AC could make for a nice vacation town.. unfortunately too much of the revenue has been pocketed without giving much back toward renovations and future thoughts. Most of the casinos haven't been updated much in the past 20 years, and those old smoke stained carpets and faded felt tables do nothing to attract a newer generation looking for an experience... not just gambling. I find myself having a much better time in better taken care of facilities (pre-close revel, borgata, harrahs) rather than some of the over milked ones (taj, ballys). I do not feel comfortable stepping one foot off the boards any time near dark to visit the surrounding restaurants, and often times I get bored staying in AC for longer than 2 days.

The boards seem to attract people because of the beach and ability to jump casinos at whim with a short walk. Given the huge traffic of patrons from the boards, you'd think they'd take better care of those casinos, when in fact these seem to be the biggest culprits in pocketing the cash without reinvesting.

Trop has recently been overhauling pretty much everything, but I'm thinking it's more out of desperation as it's the only casino there, since the closure of the atlantic club and trump plaza, rather than caring about its patrons.

Quote: dave12038457

Neighboring shore towns such as Brigantine, Ventnor, Margate, Longport are thriving.

After almost three years, that "thriving" does not appear to be universal, according to Monmouth County:

"After Sandy severely damaged or destroyed some 345,000 homes, the state sought 4,300 easements to widen beaches and build protective sand dunes along the entire 127-mile New Jersey coastline. Some 300 homeowners, however, opposed the state-run effort, which in some cases threatened to obstruct the views from their multimillion dollar beach homes.

Among those displeased was Lawrence Bathgate, one of the GOP's top national fundraisers, and a homeowner in Ocean County's. Bay Head area. In November, Bathgate derided Christie's dune plan as "stupid," wasteful and against core Republican principles of private property and fiscal restraint. He and other neighbors raised millions to build a protective rock wall along their coastal properties, and asked to be exempted from the statewide plan."

More bad news for AC:

Republican Governor Christie announced yesterday that he supports building a casino in North Jersey. Casino

Coincidently, Republican supporter Sheldon Adelson said last year, that he is interested in building a casino near the Meadowlands Sports Complex, which is only minutes from NYC.

Quote: dave12038457

Neighboring shore towns such as Brigantine, Ventnor, Margate, Longport are thriving.

You must not own property or a business in any of these towns. They are all tied to AC.

Quote: ajemeister

my theory has always been if the casinos or the state would have stepped in and bought out the slums.. AC could make for a nice vacation town.. unfortunately too much of the revenue has been pocketed without giving much back toward renovations and future thoughts. Most of the casinos haven't been updated much in the past 20 years, and those old smoke stained carpets and faded felt tables do nothing to attract a newer generation looking for an experience... not just gambling. I find myself having a much better time in better taken care of facilities (pre-close revel, borgata, harrahs) rather than some of the over milked ones (taj, ballys). I do not feel comfortable stepping one foot off the boards any time near dark to visit the surrounding restaurants, and often times I get bored staying in AC for longer than 2 days.

The boards seem to attract people because of the beach and ability to jump casinos at whim with a short walk. Given the huge traffic of patrons from the boards, you'd think they'd take better care of those casinos, when in fact these seem to be the biggest culprits in pocketing the cash without reinvesting.

Trop has recently been overhauling pretty much everything, but I'm thinking it's more out of desperation as it's the only casino there, since the closure of the atlantic club and trump plaza, rather than caring about its patrons.

Trop is getting millions from the CRDA and telling everyone they are investing twice that. It's all B.S. It's another whore of a casino. At least Borgata offers some sense of value.

Quote: dave12038457

Neighboring shore towns such as Brigantine, Ventnor, Margate, Longport are thriving.

I think we probably need to define thriving. But, if you are using it to mean anything more rosy than "slightly less screwed than Atlantic City" then I'm going to disagree strongly with your premise.

Atlantic City homes sell on average for 136k
Longport 697k, Margate 421K and Ventnor 249k.
It would seem that there is far more demand for housing outside of A.C.
Those areas are "thriving" communities. Atlantic City couldn't even get a supermarket to open there until perhaps two years ago,

Quote: dave12038457

Atlantic City homes sell on average for 136k
Longport 697k, Margate 421K and Ventnor 249k.
It would seem that there is far more demand for housing outside of A.C.
Those areas are "thriving" communities. Atlantic City couldn't even get a supermarket to open there until perhaps two years ago,

Houses in Summerlin and Henderson cost more than houses in Las Vegas. Are those cities "thriving" more than Las Vegas? The residents of Summerlin and Henderson work in Vegas just like the residents of Longpot and Margate and Ventnor work in AC. How can the suburbs "thrive" when the employment center suffers? Who would want to live in Ventnor if there weren't jobs available next door in AC? it's a long, boring trainride in to Philly from the Jersey shore...

Prices have dropped 40% (at least) on Absecon Island since 2006, and they continue to drop.

Were pray tell did you get the 40% ( at least) from?

Quote: dave12038457

Were pray tell did you get the 40% ( at least) from?

Here's Zillow's info for Margate. This took me 15 seconds to find. Would have been faster, but apparently there's also a Margate in Florida...

http://www.zillow.com/margate-city-nj/home-values/

I was able to find and use the same link. But were did you get the 40% from?

Quote: dave12038457

I was able to find and use the same link. But were did you get the 40% from?

See Graph:


http://www.zillow.com/absecon-nj/home-values/

They'll never get the city going. Inner city look will hardly attract well to do.

Quote: dave12038457

I was able to find and use the same link. But were did you get the 40% from?

My real estate portfolio, which sadly is pretty accurate. Many properties have fallen over 70% in Atlantic City-these are numbers comparing 2006 to current.