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Old 07-15-2013, 02:57 PM
 
Location: Manhattan
1,746 posts, read 3,426,609 times
Reputation: 2526

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These cost cutting measures always end up costing the country much more in the long run. I think its a great idea to tweak programs with the intent of getting people to lead more independent lives--but gutting them without a safety net? Short sighted I think.

I don't think a defunded NYCHA/section 8 program is going to magically reduce housing costs in NYC in a meaningful way. No one is going to move right into a falling down NYCA apartment and pay market rate first of all. All of those buildings would need to razed or completely gutted--and guess what would be the end result? Luxury housing.

It's like the diamond market, DeBeers creates a artificial shortage to keep prices high. Likewise, any mass exodus of the poor from NYC would likely result in parking lots until the market slowly absorbs the surplus.
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Old 07-15-2013, 03:18 PM
 
Location: USA
8,016 posts, read 9,079,405 times
Reputation: 3383
this country has no common sense.
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Old 07-16-2013, 12:20 PM
 
23,265 posts, read 16,104,540 times
Reputation: 8543
Quote:
Originally Posted by barkomatic View Post
These cost cutting measures always end up costing the country much more in the long run. I think its a great idea to tweak programs with the intent of getting people to lead more independent lives--but gutting them without a safety net? Short sighted I think.

I don't think a defunded NYCHA/section 8 program is going to magically reduce housing costs in NYC in a meaningful way. No one is going to move right into a falling down NYCA apartment and pay market rate first of all. All of those buildings would need to razed or completely gutted--and guess what would be the end result? Luxury housing.

It's like the diamond market, DeBeers creates a artificial shortage to keep prices high. Likewise, any mass exodus of the poor from NYC would likely result in parking lots until the market slowly absorbs the surplus.
Raze NYCHA apartments in the Bronx or in Brownsville/East New York or Canarsie and you will not replace them with luxury housing. They are too far from commercial centers. Much of the private housing market in the Bronx is supported by Section 8 and other government programs. If Congress defunds these programs, tenants can't pay their rent and landlords can't pay their mortgages. That's a housing collapse right there in huge parts of the city as people tend to underestimate just how huge the welfare complex in NYC is.

Also, the NYCHA complexes in Manhattan on the Lower East Side were among the areas badly affected by Sandy. Would luxury housing really sell there? There's a lot of NYCHA housing in the Rockaways and Coney Island, and real estate prices in these areas has not recovered from Hurricane Sandy. Its a myth that real estate prices in NYC can only go up.
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Old 07-16-2013, 06:16 PM
 
Location: Manhattan
20,181 posts, read 26,480,657 times
Reputation: 9049
Throw the bums out of the Capitol and turn the place into affordable housing. Get some use out of the big white marble building.
Its current use as a lunatic asylum is serving no good purpose.
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