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Just to pile on; the article is not saying anything some of us haven't known already.
Persons at or above a certain income level aren't so desperate for housing they are willing to allow some developer and the City of New York to paw over their financial and personal lives. Much less subject themselves to a process conducted by people they'd otherwise likely never associate with and or are used to dealing with in subordinate positions.
They'll will do these things those they consider their peers, such as certain real estate brokers and or condo/co-op boards.
Even those high up on the middle class (for NYC) food chain aren't so keen about the rather intrusive process. A household of say two firemen, FDNY and a RN, NYPD and RN, or some such likely would try to buy a house on Staten Island or elsewhere than go through all those hoops just to land a RS apartment.
I think it's less about intrusion into their finances and more about not wanting to live among the horrible children and teenagers of low-income families. No one who makes over 160-200% AMI wants to live around that. Same reason they don't want to rent in old market rate housing with college students like stuy-town (who are just as much riff-raff). Stuy town is having a HARD time with their supposed "affordable units" because they prices are SO HIGH to begin with and no one wants to live in a disgusting dorm-like atmosphere which stuy town has become.
I think it's also about these low cost is not really good deals for someone making 90k. Assuming single and childless, they already get taxed progressively more than people making less income. A larger chunk of their pay goes to housing cost
I really don't like responding to someone with your nic,
but in a way that is true
people in the 60% AMI band are currently in the 12% tax bracket
people in the 80-100% AMI band are currently taxed at 25%
So it's a double dagger seeing a vast plurality of the new affordable housing stock going to people in 60% AMI and below, considering how much more in taxes those who make just a few thousand more a year make and how much taxes are taken out.
Just to pile on; the article is not saying anything some of us haven't known already.
Persons at or above a certain income level aren't so desperate for housing they are willing to allow some developer and the City of New York to paw over their financial and personal lives. Much less subject themselves to a process conducted by people they'd otherwise likely never associate with and or are used to dealing with in subordinate positions.
They'll will do these things those they consider their peers, such as certain real estate brokers and or condo/co-op boards.
Even those high up on the middle class (for NYC) food chain aren't so keen about the rather intrusive process. A household of say two firemen, FDNY and a RN, NYPD and RN, or some such likely would try to buy a house on Staten Island or elsewhere than go through all those hoops just to land a RS apartment.
Complete nonesense.
Firstly, some of it has to do with marketing.
Secondly, the cost of the apartments aren't that much of a "deal" when compared to rates offered to those with "low incomes". The incentive isn't as great.
There's a HUGE difference between someone making 60k and someone making 90k when studio costs 1700 - 2k. Especially for singles who get annihilated with taxes. I don't think there are too many people making 60 or 70k who are willing to spend 2k on a studio.
Furthermore, where are the apartments for middle income couples (with or. Without children) where incomes can easily hit 150k.
Simply put the deal isn't as good as it is for low income lotteries. Those deals are literally just as good as winning the lottery.
This just goes to show that when it comes to housing in NYC our politicians are willing to throw bones to the poor (for votes) but don't give two ****s about anyone else.
In fact, this seems like this is just another way for developers to get near market rate rents while getting their tax breaks as well.
Last edited by wawaweewa; 11-09-2017 at 06:08 PM..
quote:
This just goes to. Show that when it comes to housing in NYC out politicians are willing to throw bones to the poor (for votes) but don't give two ****s about anyone else.
In fact, this seems like just another way for developers to get near market rate rents.
I really don't like responding to someone with your nic,
but in a way that is true
people in the 60% AMI band are currently in the 12% tax bracket
people in the 80-100% AMI band are currently taxed at 25%
So it's a double dagger seeing a vast plurality of the new affordable housing stock going to people in 60% AMI and below, considering how much more in taxes those who make just a few thousand more a year make and how much taxes are taken out.
This is obvious and common sense. The question then becomes what purpose do these units serve?
I think they serve as an illusion of affordable housing in order to qualify for tax breaks while fetching near market rate rents.
They make DeBlasio not look like a liar that he is creating tens of thousands of "affordable housing units", while at the same time allowing the developers to still charge very high margin rents compared to income. I think the overflow and ridiculously high percentage of VERY low income apartments in these new luxury buildings is because everyone knows people who live in the projects aren't going anyway, so just displace them even if it means into high-rises because the value of the land that much of public housing sits on currently is worth MORE to the greedballs in charge and behind the scenes. They know what they are doing and laughing at us behind closed doors. Laughing at ALL of us as we all bicker back and forth daily about who deserves to WIN these housing lotteries. It's disgusting how things work when you think about it. Votes, Money, Politics, Favors, Greed, Connections, etc... nothing good comes out of it except for the lucky few winners (the low income lottery apartment winners and the greedy developers) while the rest of us scratch and claw at each other in the pit. It's vile, but what isn't vile these days really? Then again, what HASN'T been vile in human history for the last 25,000 years? (no idea how long humans have been womping around on this planet... I should know, but i don't.)
Nothing will change until a giant star in our solar system decides to make a giant fart and then we are ALL *Poof* and maybe that is a good thing.
Nothing will change until a giant star in our solar system decides to make a giant fart and then we are ALL *Poof* and maybe that is a good thing.
Perhaps you are right.
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