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I'm sorry, but I'm not for this. I mean, do people even know their pension plans are being used (gambled), and most importantly, who's pension plans are they using? City workers, etc?
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Most of these buildings are dominated by market rate units.
In a way that is a good thing though, otherwise they would just become luxury dumps projects 2.0
Um no it's a bad thing because the city doesn't need more market rate housing pandering to the rich, and the market rate units drive up the rent for all the other tenants in the neighborhood because now the average rent has been driven up in the neighborhood causing more people to be displaced. Landlords realize that they can get more as richer tenants move in across the street into the mostly market rate buildings. What we need to Be doing is seizing all the investment apartments in midtown that sit around vacant and turning them over to working families who need houskng
screw "families". I hate rich yunnies as much as the next poor new yorker, but sick and tired of "families" getting preferences in these buildings for their life mistakes.
Um no it's a bad thing because the city doesn't need more market rate housing pandering to the rich, and the market rate units drive up the rent for all the other tenants in the neighborhood because now the average rent has been driven up in the neighborhood causing more people to be displaced. Landlords realize that they can get more as richer tenants move in across the street into the mostly market rate buildings. What we need to Be doing is seizing all the investment apartments in midtown that sit around vacant and turning them over to working families who need houskng
A city comprised of only poor people will fail economically and socially. The "rich" will take their jobs with them and then those families will no longer be "working".
New York City has major structural issues when it comes to housing, much of it can be laid at the feet of NYC and NYS government policies.
Start with rent control laws and work down to putting down the welcome mat for any and everyone who come here; regardless if they don't have a pot to **** in or a window to throw it out....
Add to this the fact for again reasons heavily influenced by local and state policies it costs several times more to build anything in New York City than elsewhere in the country on average.
Finally there is the large and growing fact that incomes are not keeping pace with true inflation and or housing costs. Some of this again is structural; New York City like many other places in USA has moved from an economy based upon manufacturing and trades to one where employment is more and more dependent upon education levels and certain skill sets.
Long story short this city is filled with vast numbers of persons who simply cannot afford to live here, nor remain without heavy government assistance. That help can and does take many forms from so called "affordable" housing lotteries right down to NYCHA and or homeless shelter system.
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