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Please do your research correctly, lol. I'm not asking you about this, I used to do CPA certifications for developers/syndicators who were involved in the program and received LIHTCs.
I think you need to understand the difference between a tax credit and a tax abatement because they work differently.
The ONLY reason you're living OK on $40K is because you have an affordable housing apartment.
Your entire statement means nothing because your case is an exception and not the norm. Most will not get an affordable housing apartment. Most singles making ~$40K in NYC will not be living a "decent life" for too long without some kind of government subsidy/support.
Your post is disingenuous but not surprising.
Affordable housing or not, I have always been one to live within my means. I could've been living at home rent free (but still contributing to the household / saving towards homeownership). But nooooooo, that's considered a moocher,. I take an apartment that is scaled reasonably to my budget and still get called a moocher. I could've gotten a roommate... let's not even got started on what this forum thinks about roommates... I'm over it.
I'm paying almost half my net pay towards rent alone which is a lot (50% exactly if you include the utilities.)
What am I, supposed to be miserable crying woe is me? Enough people do that crap on this forum day in and day out. Market rate and "affordable" alike.
I don't plan to be on it forever because I refuse to pay rent for the rest of my life. If things progress as is, I should have enough for a down payment on a modest condo in Parkchester, by 35; assuming the prices don't deviate too high from where they are now.
I'm 27 now, trying to figure my long term life out, give me a break.
Last edited by RadeonHD4250; 10-22-2017 at 07:44 PM..
Affordable housing or not, I have always been one to live within my means. I could've been living at home rent free (but still contributing to the household / saving towards homeownership). But nooooooo, that's considered a moocher,. I take an apartment that is scaled reasonably to my budget and still get called a moocher. I could've gotten a roommate... let's not even got started on what this forum thinks about roommates... I'm over it.
I'm paying almost half my net pay towards rent alone which is a lot (50% exactly if you include the utilities.)
What am I, supposed to be miserable crying woe is me? Enough people do that crap on this forum day in and day out. Market rate and "affordable" alike.
I don't plan to be on it forever because I refuse to pay rent for the rest of my life. If things progress as is, I should have enough for a down payment on a modest condo in Parkchester, by 35; assuming the prices don't deviate too high from where they are now.
I'm 27 now, trying to figure my long term life out, give me a break.
Guaranteed you'll still be in affordable housing by the time you're 35. You know why? Because it's too good of a deal to pass up. Do the math. You'd be a moron to pass up an affordable housing unit unless you really have to.
Furthermore, no one saying you're supposed to be miserable. On the other hand, don't write a post centered around how everything is all good on a $40K salary in NYC while living in affordable housing. Do you not see the irony in that?
It's as if I had a trust fund and told people they didn't have to work because I don't have a job and I get along just fine.
that poster is a bit wet behind the ears. he's literally posted screen caps of his dating profiles in other threads screaming about how people on hookup sites are trying to get with him and act all weird and nasty :/ Definite subsidized housing lifer. Not throwing shade cuz i'd like to be a definite subsisized housing lifer myself, but his proclamations of his future are hysterical.
Guaranteed you'll still be in affordable housing by the time you're 35. You know why? Because it's too good of a deal to pass up. Do the math. You'd be a moron to pass up an affordable housing unit unless you really have to.
Furthermore, no one saying you're supposed to be miserable. On the other hand, don't write a post centered around how everything is all good on a $40K salary in NYC while living in affordable housing. Do you not see the irony in that?
It's as if I had a trust fund and told people they didn't have to work because I don't have a job and I get along just fine.
Exactly!
Mayor de Boob is repeating the same mistakes with his "permanently affordable" units that came out of RS; longevity of tenancy. That is those with below market RS apartments tend only to move if forced (eviction, major issue with building such as demolition, etc...) or by their own free well. That and only *Death* causes such persons to move.
While this may seem like a good thing it presents several major issues. First and foremost it ties up the stock of so called "affordable housing" to a " I got mine, now you get yours" mentality. That is without right sizing rents to income the only other solution is to continue (or attempting) more and more units to fulfill the demand for affordable units.
It also promotes a culture of persons who could or should move, but won't for fear of never obtaining another "affordable" apartment in NYC, especially Manhattan. So they run game like subletting or whatever in order to keep said apartment even when living elsewhere.
The other thing is something one has commented upon often enough; what is "affordable" in one's younger days, can become less so as a senior or elderly living on fixed income. As have noted many of those middle aged or elderly seen digging through garbage bags are *NOT* homeless. But often live in various housing from RS to supported apartments. It is just after monthly expenses they literally have very little left to live upon.
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