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I know teachers, nurses, police officers, etc. who make good money, but not enough/or too much for "affordable" housing.
A lot of newer developments see to cater to people who can't make no more that $30k a year for a single person.
The rich pay fair market for their homes. The poor qualify for section 8 housing. Few lotteries exist for "middle income" people. If they do, it is still too much money. Almost more than half of your take home will go to rent.
For example, I was looking for a 1 bedroom in an 80/20 building where a single person making between 88k and 109k would have to pay $2,500 a month. What if your on the low end and have essential debt like student loans. (I suppose you would not need to apply then)
I know teachers, nurses, police officers, etc. who make good money, but not enough/or too much for "affordable" housing.
A lot of newer developments see to cater to people who can't make no more that $30k a year for a single person.
The rich pay fair market for their homes. The poor qualify for section 8 housing. Few lotteries exist for "middle income" people. If they do, it is still too much money. Almost more than half of your take home will go to rent.
For example, I was looking for a 1 bedroom in an 80/20 building where a single person making between 88k and 109k would have to pay $2,500 a month. What if your on the low end and have essential debt like student loans. (I suppose you would not need to apply then)
But what do you think?
That's crazy -- $30,000/year for rent! Is the income figure you've given gross or net?
I was looking at an "affordable" housing application today and it said you have to make between 31k and 35k and pay $900 a month in rent. I don't know, but maybe that is good.
I know teachers, nurses, police officers, etc. who make good money, but not enough/or too much for "affordable" housing.
A lot of newer developments see to cater to people who can't make no more that $30k a year for a single person.
The rich pay fair market for their homes. The poor qualify for section 8 housing. Few lotteries exist for "middle income" people. If they do, it is still too much money. Almost more than half of your take home will go to rent.
For example, I was looking for a 1 bedroom in an 80/20 building where a single person making between 88k and 109k would have to pay $2,500 a month. What if your on the low end and have essential debt like student loans. (I suppose you would not need to apply then)
But what do you think?
If you mean by "New York City" the mayor and Council yes, they are aware the middle class (who would be considered upper middle to wealthy most anywhere else in the USA with the same income), face housing problems. Bloomberg to a small extent favoured doing something for such persons. De Blasio and the current CC are set on helping the "lowest of the low" that is the poor. They have gone on record saying so and that is where the policy initiatives thus far seem to trend.
New York City has a problem. High land prices, construction, taxes and other costs simply make building anything but luxury housing impossible. When you add on the "costs" of NYC's archaic, byzantine, and often interfering rules and laws regarding construction and property (everything from zoning, landmarking, historical districts, building regulations, etc...) the costs go up further.
The other problem is the high tax rates for both NYC and NYS. This means usually about 33% of what a person earns comes off the top in federal, state and local taxes. So right there someone earning 80k per year is down to about 50k. The latter number is what you work with and that may go down further for various payroll deductions and servicing debt.
NYC is not alone in becoming unaffordable to middle class households. Places such as Boston, San Francisco and a good number of other real estate markets are going the same way; housing for the wealthy and the poor. Everyone else must fend for themselves.
I know teachers, nurses, police officers, etc. who make good money, but not enough/or too much for "affordable" housing.
A lot of newer developments see to cater to people who can't make no more that $30k a year for a single person.
The rich pay fair market for their homes. The poor qualify for section 8 housing. Few lotteries exist for "middle income" people. If they do, it is still too much money. Almost more than half of your take home will go to rent.
For example, I was looking for a 1 bedroom in an 80/20 building where a single person making between 88k and 109k would have to pay $2,500 a month. What if your on the low end and have essential debt like student loans. (I suppose you would not need to apply then)
But what do you think?
All subsidized housing, PJ's, section 8 etc charge about 1/2 of your take home pay for rent. Most people will not be able to escape from them. Maybe their children will.
Yes most of them only consider gross income.
I think subsidized housing was the worst thing to ever happen to NYC. The projects allowed millions of people to stay in NYC that otherwise wouldn't be able to make it here, it also has psychologically kept healthy people from stepping up their game, and pursuing education, skills, and entrepreneurship to achieve more in life, just so they can stay in the projects and pay lower rents. Also as the OP mentioned student loans, people maybe put off from pursuing higher education knowing that they will have student loans, also knowing that as young adults their incomes still may not warrant getting an apt on their own in NYC, but at the same time staying at home a couple of years will raise the families rents in subsidized housing where the family could lose the subsidy.
I think projects section 8 housing and other programs should only have been for the disabled and elderly.
It is too late now, but maybe in the near future they could limit new applications to only that. All others should have to think of some other plan concerning housing. It will be chaotic for a while, but the gov't and the working middle class can no longer keep supporting this lifestyle through taxes, while people lose all ambition to make it in life and support themselves.
When I started out and was working my way up in my career, I had to sacrifice. I had to have money to wear certain clothing to work, which meant that I didn't have the latest fashions for a night on the town. I couldn't afford but so much for furniture and the latest technology. While relatives that lived in the projects had all of that and more, where their apts looked like palaces, because of the low rents. I mean custom window treatments, the latest technology, designer clothes and sportswear. Yet never payed a tax dollar other than sales taxes on the stuff they bought, while I am taxed like crazy on every dollar I earn.
Subsidized housing has also ruined the housing market in NYC for working/middle class people. A person can hardly find an affordable apartment that is not subsidized. Which means that they have to be within gross income guidelines. Realistically a person or couple making $40K with 2 children will have a hard time paying the $1100 dollars rent for the 2 bedroom subsidized apt. that I saw advertised for a housing lottery. Every year they will have to verify their income. If this is section 8 type their rents will rise with their income giving them no incentive, or make it very hard for them to save and move to something or somewhere that will allow them to pursue more wealth.
This has also made Ghetto Landlords only take section 8 because they can get so much subsidy from the gov't in these neighborhoods while working people that can only afford to live in these neighborhoods can't pay what these landlords get from the subsidy. It has also created another kind of subsidy by the city renting apts from these landlords for shelters for families.. If they are going to do that it would be better and cheaper to just pay the going market rents for the apt for these families.
Then there is the whole scam of low income working people that are getting large tax return checks every year, spending it all and going to HRA for one shot deals. The landlords working with them to get them. Some of these people have homes they own in other countries but can't be traced here. Why doesn't the city just take their tax returns the following year and get their money back, instead of allowing this to happen every year?
But yet there is no affordable housing offered by landlords that do not require people to prove income year after year that is not subsidized, and that allow people to just work and pay their rents, and live.
I know teachers, nurses, police officers, etc. who make good money, but not enough/or too much for "affordable" housing.
A lot of newer developments see to cater to people who can't make no more that $30k a year for a single person.
The rich pay fair market for their homes. The poor qualify for section 8 housing. Few lotteries exist for "middle income" people. If they do, it is still too much money. Almost more than half of your take home will go to rent.
For example, I was looking for a 1 bedroom in an 80/20 building where a single person making between 88k and 109k would have to pay $2,500 a month. What if your on the low end and have essential debt like student loans. (I suppose you would not need to apply then)
But what do you think?
I couldn't agree more. It's the same thing with applying for financial aid for college. "You make too much".
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