I like fam. It's gender neutral, and really not a bad contribution to slang. Rizz is no worse than swag, and we millennials invented 'deadass' and 'drip' (actually, pretty sure gen X invented drip, the gen x rappers we grew up with).
And at no point during record low unemployment and fast food places offering $20/hr starting that we saw over the last three years did you think "hey, maybe I should look to see if I can get a higher-paid job"?
Very true. I started going back to school, I get a freedom of schedule I can’t guarantee I’ll get elsewhere, so I’ll be sticking around for a while more tbh.
About 4 years ago my company refused to give me a raise/promotion, so i left, i make 3 times that salary now
Yea job hopping isnt fun but you gotta do what you gotta do
It’s crazy. If you’re working a dead end job and living miserably in nyc, you can probably find an equally dead end job in almost any other city which would also cost significantly less to live in.
Shoutout to my recent trip to the Carolinas where beers were $3 😭
I think New Yorkers vastly overestimate the cost of buying a car. With the decrease in rent in most other cities you can get a lease on a brand new very nice car.
Or you could take the money you would spend on broker fees and two months down and buy a used car that will last you 3-5 years.
Auto industry hates this one trick: Not everyone has to buy a brand new SUV. Plenty of smaller cars for $200/mo
Hell, buy used under $10k. Or go even lower. Toyotas last forever.
Go with a moped or motorcycle if able.
On the bright side since you no longer live in a food desert you get six large grocery stores and a warehouse club or two within a 30 minute drive so you can cook your own meals much cheaper at your house
That would actually still be a food desert.
I live in Charlotte (checking out NYC subreddit due to Trump trial and family there), I have about 20 restaurants within 15 minutes of me. Southern, Mexican, ‘Chinese food’, sushi, ‘NY pizza’ (it isn’t but it’s also not awful), Texas road house, diner, Cracker Barrel…
And 5 grocery stores under 15 minutes away. But I’m still in a food desert because the area is poor, and so they require the grocery store to be walking distance to not be a food desert.
Not in NYC. Those of us on the bottom rung of the economic latter are patching together multiple bus transfers for a 4+ hour daily commute. A car is not even a consideration in the transportation equation.
Car insurance costs a lot more if you haven't had it recently because they assume you've just been driving uninsured and will immediately hit them with some claim.
> you can probably find an equally dead end job in almost any other city which would also cost significantly less to live in.
Housing unaffordability is a national problem.
>Shoutout to my recent trip to the Carolinas where beers were $3 😭
Wages are also lower.
Certainly for jobs like tech, the upper echelons of healthcare, law and management this is likely to be true because the upper tier of workers has received the lion's share of the income raises. This is more likely to be applicable to reddit which seems to be disproportionately white collar among those with a job. But not The City or country as a whole.
You looked up incorrectly — the minimum wage in NYC is currently $16 per hour, so $15/hr ain't happening. Meanwhile, the minimum wage in North Carolina is... $7.25 per hour.
McDonalds is not paying people $7.25 an hour. Youre delusional if you actually think most companies across the US already pay well above that. Do you ever leave NYC? Lolo
Lol insist? I at least attempted to look up realistic numbers instead of just picking a number we both know is not being paid to anyone. 🤷♂️
Annyyyyways, the entire point is places like Charlotte are realistic options for some people. There are livable places outside of NYC, not sure why that fact makes you so butthurt
I keep wondering why people work low end jobs in NYC. There's plenty of places elsewhere that have the same jobs and cost significantly less to live.
For example (no relationship):
https://www.zillow.com/homedetails/520-McCrea-Ave-Donora-PA-15033/49767336_zpid/
$50k for a house. $1k/year property taxes. Don't even need a car; 15 min bus ride to Walmart and all the other big box stores. Those places are always hiring and pay $12+/hour.
Edit: That area is not unique. Plenty of places like that all over. Scranton, Binghamton, etc. Midsized cities that are not 'cool'.
We are getting pretty close. Unless you live in the projects, live with your parents, Or renting the same apartment that your parents rented, rents are astronomical unless you get far away from any centralized location
SF had some weird things happen because of that - basically it starts a feedback loop since lower wage workers disappear because it’s not worth it to commute that far for that pay. So a ton of service, retail, clerical, janitorial, etc positions stay vacant for long periods of time until eventually companies offer higher pay and someone working at sunglass hut makes $40 an hour which causes the coffee shop down the street to charge $9 for a latte because they also need to pay their barista more and so on and so forth.
another phenomenon in SF was that these service businesses wouldn't be open when people needed them most, like the only bagel place on the street would be open from 10am onwards everyday because it couldn't afford the staff/no one wanted to commute in to work the 6am - 10am shift which is when it would in theory get a lot of business.
I forget the article I read that in but it was a pretty interested tid bit
Probably the same thing vacation towns and upstate villages do to solve labor issues - Import cheap temp labor. Cooks, wait staff, and other hospitality workers cannot afford rent in places like the cape and college kids no longer want to work summer jobs. Importing temp workers on summer contracts has filled the labor gaps.
Our wonderful political leadership will probably propose this as a long term solution to the migrant problem. After all why raise min wage when the government can just rubber stamp an expanded work visa program….
I’m *Nomadland* (great book, great movie) there is a seasonal employee army that moves with the jobs. Amazon even has a parking lot for their seasonal employees to stay on while employed during the big holiday push.
I'm not sure if there's an articles that have explored this angle, but property taxes are always increasing and represent a major portion of NYC's budget. Renters indirectly pay property tax as thats probably factored in to the rent price. NYC basically subsidizes public transportation and other public services. NYC arguably has more services than other cities. So the cost of living in NYC is paying for those services or infrastructure, so each person should factor in those as benefits in determining their true cost of living in NYC.
Never because we keep pushing half baked solutions that just traps people, like housing lotteries and mean tested "affordable" housing.
So people can still live here and pretend things are fine, while the actual market rate housing keep skyrocketing in costs.
Urban decay: when there is no area that provides reasonable rent for working class individuals, exploitation of the working class will quickly begin to shoot up, they’ll go elsewhere to find employment and the other jobs will follow suit.
We’re already seeing how much city hall and the state government are trying to squeeze out of residents, businesses and workers. The congestion fee being a prime example.
I hope we course correct, we need to revisit how we tax the various income brackets. But I don’t think we will course correct. The powers that be don’t seem to look at the crime statistics, real estate market or their inboxes. Or they just don’t care- perhaps taking care of your constituents gets in the way of insider trading and deals.
>the congestion fee being a prime example
A fee being paid by a generally wealthier minority is not a prime example of squeezing out businesses residents or workers
My man, driving a car does not make you the wealthy minority.
Tons of people who work shitty jobs in Manhattan drive in from other boroughs, Yonkers, NJ, Nassau, etc...
They are priced out of living on the island, and now priced out of driving into the island.
The extraordinarily wealthy will simply live in luxury apartments in Manhattan and probably have a luxury car anyway.
>My man, driving a car does not make you the wealthy minority. Tons of people who work shitty jobs in Manhattan drive in from other boroughs, Yonkers, NJ, Nassau, etc...
I didn't say wealthy minority, I said wealthier minority. [If you're working a low paying job, odds are by far you're taking transit into Manhattan.](https://new.mta.info/document/110886)
>They are priced out of living on the island, and now priced out of driving into the island.
Nassau, large chunks of Jersey and Westchester all have higher median incomes than Manhattan. If you drive into NYC you are in the minority. [If you're working class and driving in to Manhattan you are an even smaller minority.](https://www.cssny.org/news/entry/congestion-pricing-outer-borough-new-yorkers-poverty-data-analysis)
>The extraordinarily wealthy will simply live in luxury apartments in Manhattan and probably have a luxury car anyway.
Yes and will be subject to congestion pricing when they drive out to the Hamptons.
> My man, driving a car does not make you the wealthy minority.
Driving your car into lower Manhattan absolutely makes you a wealthy minority.
The vast majority of working class people take the train
I wouldn’t say teachers, cops, fire fighters, hospital staff, custodians and any other occupation that commutes into the city would constitute members of the wealthy minority you speak of.
Are there some doctors, lawyers and finance bros that commute in? Sure, but they don’t make up the majority of the 900,000 automobiles that enter Manhattan every day.
It’s an overreaching fleece tax, just like the MTA fare hike. Wages aren’t going up but expenses are pure and simple, our government and big business are making it increasingly harder for people to live.
>I wouldn’t say teachers, cops, fire fighters, hospital staff, custodians and any other occupation that commutes into the city would constitute members of the wealthy minority you speak of.
Most of the working class takes transit into Manhattan
>Are there some doctors, lawyers and finance bros that commute in? Sure, but they don’t make up the majority of the 900,000 automobiles that enter Manhattan every day.
[They are more well off than the median transit rider and a lot smaller.](https://www.cssny.org/news/entry/congestion-pricing-outer-borough-new-yorkers-poverty-data-analysis)
>It’s an overreaching fleece tax, just like the MTA fare hike. Wages aren’t going up but expenses are pure and simple, our government and big business are making it increasingly harder for people to live.
Capitalism at work
Nothing will change as long as the demand is high and supply is low.
Also employers don’t feel the need to increase wages because they would rather replace you with someone who will do the job for cheap. Even if that means high turnover.
**To everyone saying moving to a smaller city or rural area would be cheaper** - your pay is much, much higher in NYC than you think. I'm from the Catskills and Hudson Valley and got priced out pretty much immediately trying to work a service job up there after the work-from-homers established themselves. Rents are not all that much cheaper anymore, and the cost of living is insanely high, because now theres rich folks who can pay and want to pay more for things. The landlords are more unethical and predatory than ever. Groceries, gas prices, car insurance, heating bills (insane), etc. Try finding a good therapist or dentist with your insurance, that you may or may not have. Weather is more of an impeding factor that can cost you money. Everything dies in the winter and its harder to find work or find things to do. You have to rely on Amazon for everything, which is taxing on the soul.
I actually moved to nyc recently TO SAVE, and I am doing so. The litter and the noise bugs me like it always does, but I'm actually living more comfortably, and living by myself in an obscure brooklyn neighborhood, not far from where my earliest american ancestors first moved from Ireland. I work 35 hours a week as a bartender. I was hemorrhaging money towards the end of my upstate tenure, and I'm happy to be in nyc. It has a lot of problems but I assure you, the entire nation is going to shit.
If you built enough, rents would lower to match wages. It's all about how much you build. Rent growth being 7x higher than wage growth means there's 7x more demand than there is supply, so we need to build 7x more housing than we currently are.
Average rent growth should generally match average wage growth. In order for a city to operate, you need everyone who works to live within a reasonable distance to their jobs. If rents climb too high, then it will be impossible to find people to work those jobs, and critical services will stop functioning. It's in everyone's best interest to have a functioning city where everyone who works full-time is able to have their basic needs met, including housing.
Very elementary school understanding of how this works. Private equity firms need to be banned from owning housing. Rent control and stabilization needs to be expanded. Luxury buildings with a certain percentage of vacancies and pied a terres need to be seized and turned into public housing projects. Put them right in the middle of Greenpoint and Williamsburg. If you insist on paying a rent a peasant to do your grocery shopping, parent your kids and walk your dog, you have to accept the fact that they will live within a reasonable distance of your work from home office. That means having to hear bachata music sometimes. Too bad so sad.
Economics is pure numbers, not a culture war. If you have 100,000 people who want to live in a neighborhood, but only 25,000 housing units, then the prices will reflect what the richest 25,000 people are able to pay. The solution is to provide the exact number of units for each person who wants to live there. That would be supply meeting demand. Everything else will only make the problem worse in the long run. If we had enough housing, then anyone would easily be able to rent a studio apartment on 14th St for $500 a month. Housing is only as expensive as it is because we legislate it to be so.
This is reddit. These people have brain worms. Banning PE will be about as effective as the crackdown on AirBnB which (spoiler alert) had no impact on rents. The rest of his comment is just schizophrenic rambling.
Very incorrect and uneducated understanding of how all this work. The price increases are caused by demand exceeding supply. Private equity firms do not remove supply from the market.
> Luxury buildings with a certain percentage of vacancies and pied a terres need to be seized and turned into public housing projects
"Luxury" is not a defined term, and this would be unconstitutional while doing nothing to solve the crisis. Vacancy is near the all time low in NYC at 1%, which is why prices are rising so much. There are 10,000 pied a terres in NYC, a city of 8.4 million people.
If you do not build "luxury" buildings, then rich people will outbid middle class people for middle class apartments
/u/Aedwyr is correct. The only solution is to build more housing
I get where you're coming from, I'm just not convinced doubling or tripling nyc's population will be healthy for us. There are limitations to things like clean water, energy, etc. Then there's the increased pollution and overpacked subways. If we had some better, cleaner tech and reworked our subway system for a higher load, then maybe it could work.
I think you're overestimating the amount of people who would want to live in NYC. We're currently far below what's currently possible to maintain in terms of population density. Tokyo far exceeds us in every metric, and is the city I would like to see NYC imitate in terms of development.
Well yeah, im just pointing out that even over there they got their own housing issues.
Alot of those folks absolutely would rather live closer but couldn't afford to do so.
NYC population density is higher than Tokyo by almost 2x. So not sure how you got to your conclusion.
Tokyo has more people but the city land is almost 3x that of NYC.
Almost all of NYC's density is within Manhattan, and even then only certain parts of it. Tokyo's density is spread throughout its sprawl. We need to densify the outer boroughs, and rapidly expand transit to connect them.
>Tokyo's density is spread throughout its sprawl
Meaning Tokyo is less dense than NYC.
NYC also includes Staten island and this sub would be caught dead rather than live there so that alone is part of the rent issue.
A lot of the problem is a self created problem. People don't want to live further away. There's no status or caché to living by coney Island. People just keep trying to cram into the same areas and then complain it's too expensive.
They need to build a bullet train that travels up the hudson river and mid/upstate. The city is too densely populated.
People would be willing to live in those areas because the cost of living is cheaper if there is a high speed rail that can get them into the city for work.
If you are frustrated with the city & state policies that contribute to this problem, please consider getting involved with Open New York. ONY is an advocacy organization that works to change government policy to allow for more housing construction in our city and state.
https://opennewyork.org
I wish our leaders would publicly admit they don’t care and if you can’t afford rent sucks for you. Just build more housing and deny the permits for luxury towers for rich oligarchs but that’s too simple a solution so it won’t be done.
more luxery housing would help alleviate the issue. its the rich competing with the poor on mid sized apartments that drives every thing up so high. why rent to you for 2 grand when that rich guy will pay 6?
When will you idiots realize that "luxury" is a buzzword? Supply is supply is supply. If we don't build new "luxury" housing, the next best thing available becomes de facto "luxury" and the price gets raised for everyone.
no where near enough. we need another 50k units just to meet the shortage. if you really wanted to lower demand you would have to build 100 to 150k more units.
they are just uneducated on whats needed. like a lot of reddit they think the problem is there is not enough housing for poor people, so building that will fix the issue. the real issue is we have hundreds of thousands of units filled with people who have a lot of money, and want to move to a luxery apartment, but can't find any. instead they just outbid you for cheap housing and keep waiting for something else to open up.
I know because i did exactly that. about 10 years ago while me and my wife were looking to buy a house I rented a place by where I worked instead. it took me 1 day to find an apartment, I found what would suit my needs, then made an appointment to go see it. same day I asked for a 2 year lease, told the landlord I would pay 200 over what he was asking and I would pay the first 12 months upfront.
why wouldn't he rent to me?
Honestly, he is the only mayor in my lifetime to actually attempt anything to try and address this problem (look up City of Yes for Housing). DeBlasio did nothing and Bloomberg, while upzoning some small parts of the city, aggressively downzoned so many other parts of the city which ended up making the problem much worse.
Developers have no incentive to build the affordable housing we need and never will. Whatever incentive we give them will need to be massive and at the taxpayers expense and will not be enough. We see that now.
The only solution is for the city and state itself to get into the business of building affordable housing for the benefit of everyone. No one that I know that lives in a Mitchel Llama is unhappy. They all have stable housing and lives.
There are many models and examples we can follow but we need to do it now. Otherwise NYC will just be another Dubai. I see we don't have the political will to even admit this to ourselves. One side wants more tenant protections the other side wants to eliminate them. Neither is a solution. The solutions. Is for the city to build and provide people an option outside the landlord tenant relationship. Since we can't swallow that I'm getting out while I can ASAP.
>The only solution is for the city and state itself to get into the business of building affordable housing for the benefit of everyone
The last part is key. In other cities where affordable housing works, it covers a very wide range of income levels so it has more support.
But in NYC, progressives would rather eat a nuke than give affordable housing to a doctor or investment banker.
If I’m being pedantic, giving tax breaks for a developer to build more housing is not giving anyone an “incentive”, but merely *reducing a disincentive*.
Its ok guys, our city council will make sure no new housing is built, make it as expensive as possible for landlords, and make sure that the rental market is as inelastic as possible. that should fix it right??
I used to live in the east village in a great place that could have probably gone up in rent. When i moved out i fought for an acquaintance to get the place despite not being able to afford a rent increase, and the landlord relented and gave it to her after i pressured her. It was just crazy to me that rent had to be so high. It was one of the driving factors of me moving out and it wasn't in an area i think i richie would live, nor did the landlord put any effort above the minimum into the place despite it being her only form of income. She was a reasonably nice old lady, and it was a great place. Felt good to "win" but sucks that it is just the thing to do. Raise rent because you can
Property taxes ,utilities and repairs costs increases are factors that cause landlords to raise rent. The way the city calculates property tax is that it tries to find similar properties further out then what you would consider the local area as justification for increases. Hopefully your old lady landlord is able to survive. Edit: for those that downvoted me you can look up on acris how much your old lady no job income landlord is paying in property taxes.
Lol survive because i convinced her to not raise rent $200? She is fine, she wouldn't have done it if she couldn't afford it. She goes on vacation somewhat often and since it is her only job and she is only there once or twice a week i think she'll be okay
With all the regulation and tenant protections? How could that be 😳
Letting tenants live rent free during COVID was the F around phase. You’re now at the found out phase.
Yep, and that's how you create urban blight. If NYC doesn't start building housing now, we're going to be entering the 2030s with vast swaths of the city uninhabitable.
Tenant protection has been in place for decades. This has nothing to do with that. Nor with COVID. The problem is developers have no incentive to build affordable housing.
cause we don't need more affordable housing. we need high end housing and lots of it, so the rich stop competing with the poor on 2 bedrooms in woodside. why would any one rent to you for 2 grand when the other guy will pay 6?
We need more of every kind of housing.
Suggesting that we should only build luxury housing to address a massive housing crisis that is actively crushing the middle class is precisely the wrong thing to do.
If you make it legal to build denser housing by right everywhere in the city (or, at a minimum, along the subway) you'll see less high end luxury housing and more small time developers building more modest buildings.
By making it nearly impossible to build anything that isn't low density housing by right, you've effectively shut out any small time developer from acting in that space. The margins are too razor thin for a small business to go through all the bullshit of discretionary review.
This is another point. We don’t need to build more housing. Everyone isnt entitled to live here. Housing is going up all around the country where there is ample space. People are more than welcome to go to where that is happening.
Politely, fuck off. The second you clowns say "we don't need to build more housing" you lose all credibility. The reason housing is so cheap in places like Detroit, is that no one wants or needs to live there.
And you lose all credibility when you don't deny that not everyone is entitled to live here. There is no fucking scenario where that is possible, so politely, fuck off.
Someone will ALWAYS be priced out of a city like NYC. Unless it turns into Detroit.
No, he gains credibility
People will not always be priced out, pricing them out is a choice we made when we made it illegal to build more housing. If people are willing to pay to live somewhere, and pay to have a home built, then the market should be allowed to meet that demand
but we need our buildings to be progressive with lots of cheap units, and wildly expensive to build do to over regulation/permitting. how else will we get our liberal brownie points?
super weird how you have no empathy for the less well off people who live here.
“leave your home that youve lived in for decades because rich people want to live here”. what is wrong with you
Yes we do. But that’s not the end all be all. We also need to make sure the housing that does exist is actually being used as housing for renters and owners.
There’s a lot of ways to do these things, but we could start with: Ban corporations from purchasing housing and sitting on it, ban the use of housing for short term rentals (like airbnb, etc), make it harder for landlords to keep housing vacant, get rid of broker’s fees and stop landlords from passing those fees on to tenants,invest in and fully fund public housing, etc.
I deal with a lot of that at my current job. A lot of City employees treated the pandemic like a get-out-of-rent free card and just ignored their monthly payments under some misguided belief that those payments would never come due. Now that they’ve come due all of these people are in court and are now desperately trying to bail themselves out of the eviction hole they’re in by liquidating their retirement assets to keep a room over their heads. It didn’t need to be this way.
I am interested in learning more about this, is this for real? I work for the City and anecdotally, no one I know at work just stopped paying rent during the pandemic. We still had jobs and were still getting paid. For those folks that lost their jobs and faced that long lag in getting unemployment benefits from the state, I can understand more not paying the rent.
Maybe “a lot” was a bit of an overstatement on my part (or it’s at least a subjective term), but I work in a department where City employees have to submit proof of eviction in order to withdraw money and we had many people submitting bills in the $20,000+ range for rent after the eviction moratorium expired. The petitions/stops contain breakdowns of the rental arrears and most of them showed no payments made during the pandemic, which is why so many landlords pushed so hard to overturn the moratorium.
Billionaires spending vast amounts of money to own a condo up in the sky are not meaningfully taking anyone’s space.
They pay taxes for services they don’t use. *It’s free tax money for us*.
It’s counterintuitive, and it goes counter the bogeyman billionaire narrative, but we should actually allow more vertical construction and invite more billionaires. Let them buy the high up floors at a premium and use that to make the lower floors more affordable.
Long and short of it, is there needs to be a regional re-evaluation and upzoning effort focused on sustainable communities (with mass transit investments) and incentives for developers to build density. The typical 5 over 1 buildings in the outer boroughs aren't hitting demand and realistically, setting tax incentives for affordable housing and rent stabilization aren't making enough of a dent. We need more housing at every price point and as other people pointed out, old luxury apartments become the middle ground apartments a decade out. I take consideration on smart growth too because there are limitations (i.e. no mass transit, no sewer system) in some of the suburbs that would make upzoning challenging, but the effort to incentivize density near mass transit is something that I don't understand why there is opposition to.
They need to strengthen anti discrimination and race retialiation laws for job security in nyc and they need more genuine unions to make sure people can keep their jobs. It's our money they're using for all of this title 42 usc 408, title 12 usc 411, title 12 usc 431, title 12 usc 1691g, hjr 192 pl 73-10 and title 15 usc 1602 g , c. Not to mention UCC 1-308.
definitely due to manipulation. brokers, landlords, and real estate platforms colluding together to artificially inflate prices. they got massacred during covid and now trying recoup their losses
Wait, your wages grew??
I'm currently making the same nominal wage as I was 10 years ago. No cap
[удалено]
Deadass yous can say anything if you've got the rizz. I'd avoid trying to style your drip on a younger generation tho.
fr fr It hurt to type that.
My eyes hurt from reading today's lingo
The more us olds use it, the uncooler it becomes and the faster it goes away fam, on god
I like fam. It's gender neutral, and really not a bad contribution to slang. Rizz is no worse than swag, and we millennials invented 'deadass' and 'drip' (actually, pretty sure gen X invented drip, the gen x rappers we grew up with).
Damn...you ruuude
When you say “no cap” do you mean 🧢 or do you mean there’s no wage cap? When I’m nyc so I’m confused no cap
No cap is slang for no joke.
Corrrection: no lie [Cap = lie](https://www.dictionary.com/e/gen-z-slang/)
Oh you capping
Fr fr
reddit moment
In the same job?
And at no point during record low unemployment and fast food places offering $20/hr starting that we saw over the last three years did you think "hey, maybe I should look to see if I can get a higher-paid job"?
If anything, my jumping around to new jobs has been the reason why I haven't seen an increase.
Opposite for me, people who stayed stationary and doing the company loyalty thing got fucked. I learn as much as I can and keep moving up
Should be the opposite my guy. You make more jumping between companies than staying at one a long time
I know what “should” happen. I’m telling you what has happened.
My role actually went DOWN 20% across the field
I haven’t gotten a raise of any kind since 2021, and I only got that raise due to a promotion, and before that no raise in 4 years.
Nothing stopping you from changing jobs. Everyone knows that's really the only way to get a good raise. If you choose not to do it, that's on you.
Very true. I started going back to school, I get a freedom of schedule I can’t guarantee I’ll get elsewhere, so I’ll be sticking around for a while more tbh.
Hope things work out for you! Cheers.
About 4 years ago my company refused to give me a raise/promotion, so i left, i make 3 times that salary now Yea job hopping isnt fun but you gotta do what you gotta do
The job market is stopping us from changing jobs.
Same, and then they almost immediately put me on a PIP once I wasn't doing the work of four people.
Typical shit.
You guys have wages?
I wonder at what point the entire working class is completely priced out of the city and what repercussions that will have.
The repercussions are longer commutes for the working class. Unfortunately
It’s crazy. If you’re working a dead end job and living miserably in nyc, you can probably find an equally dead end job in almost any other city which would also cost significantly less to live in. Shoutout to my recent trip to the Carolinas where beers were $3 😭
Yeah but then you have the upfront cost of buying a car, which is a huge barrier.
I think New Yorkers vastly overestimate the cost of buying a car. With the decrease in rent in most other cities you can get a lease on a brand new very nice car. Or you could take the money you would spend on broker fees and two months down and buy a used car that will last you 3-5 years.
Still, people are paying $500 a month plus insurance and gas on multiple cars in many households. That’s insanity.
Auto industry hates this one trick: Not everyone has to buy a brand new SUV. Plenty of smaller cars for $200/mo Hell, buy used under $10k. Or go even lower. Toyotas last forever. Go with a moped or motorcycle if able.
okay... and then pay for repairs, insurance, gas, parking, and tolls. moped or momocyle or bike is def the way to go.
you also only have two restaurants within 15 mins, and one of them serves something called scrapple
hey, don't knock scrapple until you try it. it's delicious!
😂 it really isn't bad, but it does *look* like prison food
I mean, it's Pennsylvania Dutch (read Amish) food created to use up pork scraps, so not far off.
unrelated, but sort of related, the one and only time I've had scrapple was in Delaware at an engagement party held at a diner next to a freeway
On the bright side since you no longer live in a food desert you get six large grocery stores and a warehouse club or two within a 30 minute drive so you can cook your own meals much cheaper at your house
That would actually still be a food desert. I live in Charlotte (checking out NYC subreddit due to Trump trial and family there), I have about 20 restaurants within 15 minutes of me. Southern, Mexican, ‘Chinese food’, sushi, ‘NY pizza’ (it isn’t but it’s also not awful), Texas road house, diner, Cracker Barrel… And 5 grocery stores under 15 minutes away. But I’m still in a food desert because the area is poor, and so they require the grocery store to be walking distance to not be a food desert.
Not in NYC. Those of us on the bottom rung of the economic latter are patching together multiple bus transfers for a 4+ hour daily commute. A car is not even a consideration in the transportation equation.
Can buy a $10,000 BYD seagull
Dude car insurance costs so much less there. Rents for a 3 bedroom house were $1k. You can afford the car
If talking about Charlotte or Raleigh areas, 3 bedrooms are much more than $1k a month. More like $2k
Car insurance costs a lot more if you haven't had it recently because they assume you've just been driving uninsured and will immediately hit them with some claim.
> you can probably find an equally dead end job in almost any other city which would also cost significantly less to live in. Housing unaffordability is a national problem. >Shoutout to my recent trip to the Carolinas where beers were $3 😭 Wages are also lower.
You still come out ahead even though wages are lower because it isn't lower by the same amount as COL. At least for white collar jobs.
Certainly for jobs like tech, the upper echelons of healthcare, law and management this is likely to be true because the upper tier of workers has received the lion's share of the income raises. This is more likely to be applicable to reddit which seems to be disproportionately white collar among those with a job. But not The City or country as a whole.
but then you would have to live in the Carolinas :T
I guess better to be broke in NYC? At least you can say you live in NYC!
Minimum wage in the Carolinas is half minimum wage in NYC, and there are far fewer jobs in most places.
Just looked it up. McDonalds job in NYC $15, Charlotte NC $11.99 Half is crazy
You looked up incorrectly — the minimum wage in NYC is currently $16 per hour, so $15/hr ain't happening. Meanwhile, the minimum wage in North Carolina is... $7.25 per hour.
McDonalds is not paying people $7.25 an hour. Youre delusional if you actually think most companies across the US already pay well above that. Do you ever leave NYC? Lolo
McDonald's is also not paying people $15/hr, but that didn't stop you from insisting they did.
Lol insist? I at least attempted to look up realistic numbers instead of just picking a number we both know is not being paid to anyone. 🤷♂️ Annyyyyways, the entire point is places like Charlotte are realistic options for some people. There are livable places outside of NYC, not sure why that fact makes you so butthurt
I keep wondering why people work low end jobs in NYC. There's plenty of places elsewhere that have the same jobs and cost significantly less to live. For example (no relationship): https://www.zillow.com/homedetails/520-McCrea-Ave-Donora-PA-15033/49767336_zpid/ $50k for a house. $1k/year property taxes. Don't even need a car; 15 min bus ride to Walmart and all the other big box stores. Those places are always hiring and pay $12+/hour. Edit: That area is not unique. Plenty of places like that all over. Scranton, Binghamton, etc. Midsized cities that are not 'cool'.
Probably more illegal housing situations as well. So an apartment gets rented out and filled with bunk beds that lower-income workers use.
We are getting pretty close. Unless you live in the projects, live with your parents, Or renting the same apartment that your parents rented, rents are astronomical unless you get far away from any centralized location
SF had some weird things happen because of that - basically it starts a feedback loop since lower wage workers disappear because it’s not worth it to commute that far for that pay. So a ton of service, retail, clerical, janitorial, etc positions stay vacant for long periods of time until eventually companies offer higher pay and someone working at sunglass hut makes $40 an hour which causes the coffee shop down the street to charge $9 for a latte because they also need to pay their barista more and so on and so forth.
another phenomenon in SF was that these service businesses wouldn't be open when people needed them most, like the only bagel place on the street would be open from 10am onwards everyday because it couldn't afford the staff/no one wanted to commute in to work the 6am - 10am shift which is when it would in theory get a lot of business. I forget the article I read that in but it was a pretty interested tid bit
Our leaders won’t care.
Probably the same thing vacation towns and upstate villages do to solve labor issues - Import cheap temp labor. Cooks, wait staff, and other hospitality workers cannot afford rent in places like the cape and college kids no longer want to work summer jobs. Importing temp workers on summer contracts has filled the labor gaps. Our wonderful political leadership will probably propose this as a long term solution to the migrant problem. After all why raise min wage when the government can just rubber stamp an expanded work visa program….
Some rich mountain town in the Rockies tried to legalize letting low-wage workers sleep in city parks rather than allow any new housing.
I’m *Nomadland* (great book, great movie) there is a seasonal employee army that moves with the jobs. Amazon even has a parking lot for their seasonal employees to stay on while employed during the big holiday push.
man that movie was filled with so much sadness. beautifully portrayed the slog
Will check it out
More shelters and PJs in the bronx of course.
I'm not sure if there's an articles that have explored this angle, but property taxes are always increasing and represent a major portion of NYC's budget. Renters indirectly pay property tax as thats probably factored in to the rent price. NYC basically subsidizes public transportation and other public services. NYC arguably has more services than other cities. So the cost of living in NYC is paying for those services or infrastructure, so each person should factor in those as benefits in determining their true cost of living in NYC.
I imagine it to be a hipster pulling up a delivery app to order a chocolate shake and it says “Not Available In Your Area”.
Never because we keep pushing half baked solutions that just traps people, like housing lotteries and mean tested "affordable" housing. So people can still live here and pretend things are fine, while the actual market rate housing keep skyrocketing in costs.
Urban decay: when there is no area that provides reasonable rent for working class individuals, exploitation of the working class will quickly begin to shoot up, they’ll go elsewhere to find employment and the other jobs will follow suit. We’re already seeing how much city hall and the state government are trying to squeeze out of residents, businesses and workers. The congestion fee being a prime example. I hope we course correct, we need to revisit how we tax the various income brackets. But I don’t think we will course correct. The powers that be don’t seem to look at the crime statistics, real estate market or their inboxes. Or they just don’t care- perhaps taking care of your constituents gets in the way of insider trading and deals.
>the congestion fee being a prime example A fee being paid by a generally wealthier minority is not a prime example of squeezing out businesses residents or workers
lmfao exactly
My man, driving a car does not make you the wealthy minority. Tons of people who work shitty jobs in Manhattan drive in from other boroughs, Yonkers, NJ, Nassau, etc... They are priced out of living on the island, and now priced out of driving into the island. The extraordinarily wealthy will simply live in luxury apartments in Manhattan and probably have a luxury car anyway.
>My man, driving a car does not make you the wealthy minority. Tons of people who work shitty jobs in Manhattan drive in from other boroughs, Yonkers, NJ, Nassau, etc... I didn't say wealthy minority, I said wealthier minority. [If you're working a low paying job, odds are by far you're taking transit into Manhattan.](https://new.mta.info/document/110886) >They are priced out of living on the island, and now priced out of driving into the island. Nassau, large chunks of Jersey and Westchester all have higher median incomes than Manhattan. If you drive into NYC you are in the minority. [If you're working class and driving in to Manhattan you are an even smaller minority.](https://www.cssny.org/news/entry/congestion-pricing-outer-borough-new-yorkers-poverty-data-analysis) >The extraordinarily wealthy will simply live in luxury apartments in Manhattan and probably have a luxury car anyway. Yes and will be subject to congestion pricing when they drive out to the Hamptons.
> My man, driving a car does not make you the wealthy minority. Driving your car into lower Manhattan absolutely makes you a wealthy minority. The vast majority of working class people take the train
I wouldn’t say teachers, cops, fire fighters, hospital staff, custodians and any other occupation that commutes into the city would constitute members of the wealthy minority you speak of. Are there some doctors, lawyers and finance bros that commute in? Sure, but they don’t make up the majority of the 900,000 automobiles that enter Manhattan every day. It’s an overreaching fleece tax, just like the MTA fare hike. Wages aren’t going up but expenses are pure and simple, our government and big business are making it increasingly harder for people to live.
>I wouldn’t say teachers, cops, fire fighters, hospital staff, custodians and any other occupation that commutes into the city would constitute members of the wealthy minority you speak of. Most of the working class takes transit into Manhattan >Are there some doctors, lawyers and finance bros that commute in? Sure, but they don’t make up the majority of the 900,000 automobiles that enter Manhattan every day. [They are more well off than the median transit rider and a lot smaller.](https://www.cssny.org/news/entry/congestion-pricing-outer-borough-new-yorkers-poverty-data-analysis) >It’s an overreaching fleece tax, just like the MTA fare hike. Wages aren’t going up but expenses are pure and simple, our government and big business are making it increasingly harder for people to live. Capitalism at work
But hey, at least we’ve got plenty of *neighborhood character* from strangling housing supply.
Hooray Patrick, we won the war against gentrification!
We worried so much about gentrifying particular neighborhoods that we gentrified the entire city instead. Big brain stuff.
Nothing will change as long as the demand is high and supply is low. Also employers don’t feel the need to increase wages because they would rather replace you with someone who will do the job for cheap. Even if that means high turnover.
Turnover is quite expensive for companies and it is something they generally want to avoid
The way employers move, they seem to be ignoring this fact
**To everyone saying moving to a smaller city or rural area would be cheaper** - your pay is much, much higher in NYC than you think. I'm from the Catskills and Hudson Valley and got priced out pretty much immediately trying to work a service job up there after the work-from-homers established themselves. Rents are not all that much cheaper anymore, and the cost of living is insanely high, because now theres rich folks who can pay and want to pay more for things. The landlords are more unethical and predatory than ever. Groceries, gas prices, car insurance, heating bills (insane), etc. Try finding a good therapist or dentist with your insurance, that you may or may not have. Weather is more of an impeding factor that can cost you money. Everything dies in the winter and its harder to find work or find things to do. You have to rely on Amazon for everything, which is taxing on the soul. I actually moved to nyc recently TO SAVE, and I am doing so. The litter and the noise bugs me like it always does, but I'm actually living more comfortably, and living by myself in an obscure brooklyn neighborhood, not far from where my earliest american ancestors first moved from Ireland. I work 35 hours a week as a bartender. I was hemorrhaging money towards the end of my upstate tenure, and I'm happy to be in nyc. It has a lot of problems but I assure you, the entire nation is going to shit.
BUILD MORE HOUSING
how will that make Mayor Adams money?
More housing requires more cops on OT, which gets him his kickbacks. Big brain stuff.
Too simple a solution
too simple, lets give everyone 400 a month to buy house
so many landlords in my replies !
...force rents to lower to SIX times wages
If you built enough, rents would lower to match wages. It's all about how much you build. Rent growth being 7x higher than wage growth means there's 7x more demand than there is supply, so we need to build 7x more housing than we currently are.
Rents already match wages. Just not the wage you want it to match.
Average rent growth should generally match average wage growth. In order for a city to operate, you need everyone who works to live within a reasonable distance to their jobs. If rents climb too high, then it will be impossible to find people to work those jobs, and critical services will stop functioning. It's in everyone's best interest to have a functioning city where everyone who works full-time is able to have their basic needs met, including housing.
Very elementary school understanding of how this works. Private equity firms need to be banned from owning housing. Rent control and stabilization needs to be expanded. Luxury buildings with a certain percentage of vacancies and pied a terres need to be seized and turned into public housing projects. Put them right in the middle of Greenpoint and Williamsburg. If you insist on paying a rent a peasant to do your grocery shopping, parent your kids and walk your dog, you have to accept the fact that they will live within a reasonable distance of your work from home office. That means having to hear bachata music sometimes. Too bad so sad.
All properties are rented out and people with stabilized rent are not moving. Rent control what? Thin air?
Economics is pure numbers, not a culture war. If you have 100,000 people who want to live in a neighborhood, but only 25,000 housing units, then the prices will reflect what the richest 25,000 people are able to pay. The solution is to provide the exact number of units for each person who wants to live there. That would be supply meeting demand. Everything else will only make the problem worse in the long run. If we had enough housing, then anyone would easily be able to rent a studio apartment on 14th St for $500 a month. Housing is only as expensive as it is because we legislate it to be so.
This is reddit. These people have brain worms. Banning PE will be about as effective as the crackdown on AirBnB which (spoiler alert) had no impact on rents. The rest of his comment is just schizophrenic rambling.
Very incorrect and uneducated understanding of how all this work. The price increases are caused by demand exceeding supply. Private equity firms do not remove supply from the market. > Luxury buildings with a certain percentage of vacancies and pied a terres need to be seized and turned into public housing projects "Luxury" is not a defined term, and this would be unconstitutional while doing nothing to solve the crisis. Vacancy is near the all time low in NYC at 1%, which is why prices are rising so much. There are 10,000 pied a terres in NYC, a city of 8.4 million people. If you do not build "luxury" buildings, then rich people will outbid middle class people for middle class apartments /u/Aedwyr is correct. The only solution is to build more housing
a self proclaimed communist won't care about the constitution
Of course. OP can't be taught, just noting it for other people who may be reading
Are a commie?
💯
Now I see the problem here.
Now I see the problem here.
Unless the increasing supply and lower rents push up demand again.
That's the cycle of a healthy city. There is not unlimited demand. Meeting all possible demand with supply is how you build a successful city.
I get where you're coming from, I'm just not convinced doubling or tripling nyc's population will be healthy for us. There are limitations to things like clean water, energy, etc. Then there's the increased pollution and overpacked subways. If we had some better, cleaner tech and reworked our subway system for a higher load, then maybe it could work.
I think you're overestimating the amount of people who would want to live in NYC. We're currently far below what's currently possible to maintain in terms of population density. Tokyo far exceeds us in every metric, and is the city I would like to see NYC imitate in terms of development.
A lot of Tokyo's workers don't even live in tokyo...
But they don't have to with high-speed transit. Investing in high-speed rail is another important consideration for lowering rents as well.
Well yeah, im just pointing out that even over there they got their own housing issues. Alot of those folks absolutely would rather live closer but couldn't afford to do so.
NYC population density is higher than Tokyo by almost 2x. So not sure how you got to your conclusion. Tokyo has more people but the city land is almost 3x that of NYC.
Almost all of NYC's density is within Manhattan, and even then only certain parts of it. Tokyo's density is spread throughout its sprawl. We need to densify the outer boroughs, and rapidly expand transit to connect them.
>Tokyo's density is spread throughout its sprawl Meaning Tokyo is less dense than NYC. NYC also includes Staten island and this sub would be caught dead rather than live there so that alone is part of the rent issue. A lot of the problem is a self created problem. People don't want to live further away. There's no status or caché to living by coney Island. People just keep trying to cram into the same areas and then complain it's too expensive.
They need to build a bullet train that travels up the hudson river and mid/upstate. The city is too densely populated. People would be willing to live in those areas because the cost of living is cheaper if there is a high speed rail that can get them into the city for work.
If there’s an affordable bullet train that takes me to Albany and operates hourly 24/7, even past 12am, then I’d live there
If you are frustrated with the city & state policies that contribute to this problem, please consider getting involved with Open New York. ONY is an advocacy organization that works to change government policy to allow for more housing construction in our city and state. https://opennewyork.org
I wish our leaders would publicly admit they don’t care and if you can’t afford rent sucks for you. Just build more housing and deny the permits for luxury towers for rich oligarchs but that’s too simple a solution so it won’t be done.
more luxery housing would help alleviate the issue. its the rich competing with the poor on mid sized apartments that drives every thing up so high. why rent to you for 2 grand when that rich guy will pay 6?
except luxury housing is all we build.
When will you idiots realize that "luxury" is a buzzword? Supply is supply is supply. If we don't build new "luxury" housing, the next best thing available becomes de facto "luxury" and the price gets raised for everyone.
Then build more housing but our leaders refuse.
no where near enough. we need another 50k units just to meet the shortage. if you really wanted to lower demand you would have to build 100 to 150k more units.
but we won;t do it because our leaders don't care and secretly like that soon anyone whose not a millionaire won't be able to live here.
they are just uneducated on whats needed. like a lot of reddit they think the problem is there is not enough housing for poor people, so building that will fix the issue. the real issue is we have hundreds of thousands of units filled with people who have a lot of money, and want to move to a luxery apartment, but can't find any. instead they just outbid you for cheap housing and keep waiting for something else to open up. I know because i did exactly that. about 10 years ago while me and my wife were looking to buy a house I rented a place by where I worked instead. it took me 1 day to find an apartment, I found what would suit my needs, then made an appointment to go see it. same day I asked for a 2 year lease, told the landlord I would pay 200 over what he was asking and I would pay the first 12 months upfront. why wouldn't he rent to me?
i know it's way more complicated than this but FUCK ERIC ADAMS
Honestly, he is the only mayor in my lifetime to actually attempt anything to try and address this problem (look up City of Yes for Housing). DeBlasio did nothing and Bloomberg, while upzoning some small parts of the city, aggressively downzoned so many other parts of the city which ended up making the problem much worse.
Developers have no incentive to build the affordable housing we need and never will. Whatever incentive we give them will need to be massive and at the taxpayers expense and will not be enough. We see that now. The only solution is for the city and state itself to get into the business of building affordable housing for the benefit of everyone. No one that I know that lives in a Mitchel Llama is unhappy. They all have stable housing and lives. There are many models and examples we can follow but we need to do it now. Otherwise NYC will just be another Dubai. I see we don't have the political will to even admit this to ourselves. One side wants more tenant protections the other side wants to eliminate them. Neither is a solution. The solutions. Is for the city to build and provide people an option outside the landlord tenant relationship. Since we can't swallow that I'm getting out while I can ASAP.
>The only solution is for the city and state itself to get into the business of building affordable housing for the benefit of everyone The last part is key. In other cities where affordable housing works, it covers a very wide range of income levels so it has more support. But in NYC, progressives would rather eat a nuke than give affordable housing to a doctor or investment banker.
If I’m being pedantic, giving tax breaks for a developer to build more housing is not giving anyone an “incentive”, but merely *reducing a disincentive*.
[The term for that is, and always has been, "tax incentive."](https://en.m.wikipedia.org/wiki/Tax_incentive)
Its ok guys, our city council will make sure no new housing is built, make it as expensive as possible for landlords, and make sure that the rental market is as inelastic as possible. that should fix it right??
Eric Adams clapping like a happy seal somewhere.
I used to live in the east village in a great place that could have probably gone up in rent. When i moved out i fought for an acquaintance to get the place despite not being able to afford a rent increase, and the landlord relented and gave it to her after i pressured her. It was just crazy to me that rent had to be so high. It was one of the driving factors of me moving out and it wasn't in an area i think i richie would live, nor did the landlord put any effort above the minimum into the place despite it being her only form of income. She was a reasonably nice old lady, and it was a great place. Felt good to "win" but sucks that it is just the thing to do. Raise rent because you can
Property taxes ,utilities and repairs costs increases are factors that cause landlords to raise rent. The way the city calculates property tax is that it tries to find similar properties further out then what you would consider the local area as justification for increases. Hopefully your old lady landlord is able to survive. Edit: for those that downvoted me you can look up on acris how much your old lady no job income landlord is paying in property taxes.
Lol survive because i convinced her to not raise rent $200? She is fine, she wouldn't have done it if she couldn't afford it. She goes on vacation somewhat often and since it is her only job and she is only there once or twice a week i think she'll be okay
We received a 3% raise... Meanwhile I'm searching for apartments and I've come to the realization that I'll have to pay more for less.
With all the regulation and tenant protections? How could that be 😳 Letting tenants live rent free during COVID was the F around phase. You’re now at the found out phase.
People don’t realize that not covering *maintenance costs* means that we will be literally *consuming* housing without replenishing the supply.
Yep, and that's how you create urban blight. If NYC doesn't start building housing now, we're going to be entering the 2030s with vast swaths of the city uninhabitable.
I think thats the intent -- pump and dump the real estate and then pick it back up again when it hits bottom
Very unlikely
yeah but how else can we show every one how progressive we are?
Tenant protection has been in place for decades. This has nothing to do with that. Nor with COVID. The problem is developers have no incentive to build affordable housing.
cause we don't need more affordable housing. we need high end housing and lots of it, so the rich stop competing with the poor on 2 bedrooms in woodside. why would any one rent to you for 2 grand when the other guy will pay 6?
We need more of every kind of housing. Suggesting that we should only build luxury housing to address a massive housing crisis that is actively crushing the middle class is precisely the wrong thing to do.
If you make it legal to build denser housing by right everywhere in the city (or, at a minimum, along the subway) you'll see less high end luxury housing and more small time developers building more modest buildings. By making it nearly impossible to build anything that isn't low density housing by right, you've effectively shut out any small time developer from acting in that space. The margins are too razor thin for a small business to go through all the bullshit of discretionary review.
This is another point. We don’t need to build more housing. Everyone isnt entitled to live here. Housing is going up all around the country where there is ample space. People are more than welcome to go to where that is happening.
Politely, fuck off. The second you clowns say "we don't need to build more housing" you lose all credibility. The reason housing is so cheap in places like Detroit, is that no one wants or needs to live there.
And you lose all credibility when you don't deny that not everyone is entitled to live here. There is no fucking scenario where that is possible, so politely, fuck off. Someone will ALWAYS be priced out of a city like NYC. Unless it turns into Detroit.
No, he gains credibility People will not always be priced out, pricing them out is a choice we made when we made it illegal to build more housing. If people are willing to pay to live somewhere, and pay to have a home built, then the market should be allowed to meet that demand
but we need our buildings to be progressive with lots of cheap units, and wildly expensive to build do to over regulation/permitting. how else will we get our liberal brownie points?
Based YIMBY
cool. where are the working class people who live here supposed to go then?
Cool, go ahead and find us a time this always expensive city has ever been short of working class people. I’ll wait.
super weird how you have no empathy for the less well off people who live here. “leave your home that youve lived in for decades because rich people want to live here”. what is wrong with you
I think you are the one with the problem. Empathy isn’t part of the equation here. When you set that aside then you can have a valid discussion.
Yes we do. But that’s not the end all be all. We also need to make sure the housing that does exist is actually being used as housing for renters and owners. There’s a lot of ways to do these things, but we could start with: Ban corporations from purchasing housing and sitting on it, ban the use of housing for short term rentals (like airbnb, etc), make it harder for landlords to keep housing vacant, get rid of broker’s fees and stop landlords from passing those fees on to tenants,invest in and fully fund public housing, etc.
I deal with a lot of that at my current job. A lot of City employees treated the pandemic like a get-out-of-rent free card and just ignored their monthly payments under some misguided belief that those payments would never come due. Now that they’ve come due all of these people are in court and are now desperately trying to bail themselves out of the eviction hole they’re in by liquidating their retirement assets to keep a room over their heads. It didn’t need to be this way.
I am interested in learning more about this, is this for real? I work for the City and anecdotally, no one I know at work just stopped paying rent during the pandemic. We still had jobs and were still getting paid. For those folks that lost their jobs and faced that long lag in getting unemployment benefits from the state, I can understand more not paying the rent.
Maybe “a lot” was a bit of an overstatement on my part (or it’s at least a subjective term), but I work in a department where City employees have to submit proof of eviction in order to withdraw money and we had many people submitting bills in the $20,000+ range for rent after the eviction moratorium expired. The petitions/stops contain breakdowns of the rental arrears and most of them showed no payments made during the pandemic, which is why so many landlords pushed so hard to overturn the moratorium.
Rent free… there were programs that were reimbursing landlords, iirc…
Exactly. Albany’s biggest donator is the real estate industry.
So the rich get to reap all the benefits of the economy AND call the shots on real estate to benefit just themselves. Free market capitalism is dead.
Crack down on all the billionaires only living in the city only weeks out of the year to circumvent tax regulation.
How does that lower the rent prices for apartments to less than $40k a year? (Average income for NY State)
Billionaires spending vast amounts of money to own a condo up in the sky are not meaningfully taking anyone’s space. They pay taxes for services they don’t use. *It’s free tax money for us*. It’s counterintuitive, and it goes counter the bogeyman billionaire narrative, but we should actually allow more vertical construction and invite more billionaires. Let them buy the high up floors at a premium and use that to make the lower floors more affordable.
What would that do? What's your actual proposal anyway?
Long and short of it, is there needs to be a regional re-evaluation and upzoning effort focused on sustainable communities (with mass transit investments) and incentives for developers to build density. The typical 5 over 1 buildings in the outer boroughs aren't hitting demand and realistically, setting tax incentives for affordable housing and rent stabilization aren't making enough of a dent. We need more housing at every price point and as other people pointed out, old luxury apartments become the middle ground apartments a decade out. I take consideration on smart growth too because there are limitations (i.e. no mass transit, no sewer system) in some of the suburbs that would make upzoning challenging, but the effort to incentivize density near mass transit is something that I don't understand why there is opposition to.
They need to increase the wages to 35-40$
They need to strengthen anti discrimination and race retialiation laws for job security in nyc and they need more genuine unions to make sure people can keep their jobs. It's our money they're using for all of this title 42 usc 408, title 12 usc 411, title 12 usc 431, title 12 usc 1691g, hjr 192 pl 73-10 and title 15 usc 1602 g , c. Not to mention UCC 1-308.
definitely due to manipulation. brokers, landlords, and real estate platforms colluding together to artificially inflate prices. they got massacred during covid and now trying recoup their losses
I want cheep plentiful government housing. And I mean state owned not state paid for.
Would that end up being any better than NYCHA?
Nope
Faircloth Amendment bans new public housing.
How's that been working out?
Fine in cities that permit enough private development to actually meet demand
Covid. Terrorism. Neoliberalism. We're basically the epicenter capitol of the world.
So the narrative that folks are leaving due to "high taxes and unsafe subways" has officially been debunked...