Wait For It - Study Finds *Half* Of NYC Households Rent Burdened (retired, paycheck)

[livingsinglenyc]

I don't know why this is such a shock to people. Most of my life has been like this. Most of people I know are like this.

[Cida]

Originally Posted by BugsyPal

Paying more than half their monthly income in rent.
To be fair study does point out these people are likely to be over sixty or young adults with children.
While we all will get old one day, there is still something to be said for not having babies you can't afford.

Curious. I was once paying more than half my income for rent - but that was because I was just out of school, and my income was so low.

[BugsyPal]

Originally Posted by Cida

Curious. I was once paying more than half my income for rent - but that was because I was just out of school, and my income was so low.

Unless someone lives in NYCHA or some other subsidized income based housing, rent goes only one way; *up*. There may be individual cases in market rate units where a LL will do a deal, but that does not happen with RS/RC units for a host of reasons.


It is an assumption therefore that household income will rise over years (doesn't always happen), and or people will pack up and move to a cheaper apartment (good luck with that).


Up until say early 1990's it *may* have been possible to find a cheaper RS apartment or even market rate in much of the city; today that is nearly impossible for all but the high end of things.


Many RS tenants are basically trapped in their apartments because not only can they not find anything cheaper, but if they did chances are it wouldn't be under RS. Hence all those thousands applying for "low income" or whatever affordable housing lottery apartments. Meanwhile the higher income units go begging because people who earn look at the things for what they are; and decide to either stay put or go elsewhere. That ongoing saga that is STPCV is case in point.

[Mr.Retired]

Originally Posted by BugsyPal

Paying more than half their monthly income in rent.


https://ny.curbed.com/2018/10/12/179...rdable-housing


To be fair study does point out these people are likely to be over sixty or young adults with children.


While we all will get old one day, there is still something to be said for not having babies you can't afford.

Ahhhhhhhh.....what ever happened to the American middle class where the father 's 8th grade education and one week's paycheck was enough for mom to stay home and raise the 4 kids. Back then having a skilled trade " learned on the job "was enough to own a home, a car, put food on the table,clothes on your back,send the kids to catholic school and a family vacation once a year.

Today both parents need to work. The average family is $15,000 dollars in debt, rent is $ 2,000 plus a month and all the 2 kids are being sent to public schools just to make ends meet.

You need to have a Harvard Education today to command wealth or the great uncle who died and left you millions to get a friggin heads up in this world today.

[mathjak107]

Originally Posted by BugsyPal

SCRIE only freezes rent, not lowers it in any way. So if a senior does qualify but it still spending half or more of their monthly income in rent, tough cheese.


One supposes as the last of truly dirt cheap below market rate RS units vanish (as the current tenants die or otherwise vacate), the remaining "boomers" are going to be caught between rock and hard place.


Know more than a handful of "elderly" persons on UES whose rent is well below $1000/month. But they've been living in those RS units since God made dirt and spit (1950's through 1970's).


OTOH also know middle aged persons (53 and over but under 65) whose rent now is $1300-$1400 per. That number will only increase until they reach qualifying SCRIE age. Many of these people are having trouble paying their rent now; God only knows what they will do. A friend of mine said her game plan is to keep working until she dies. That or unless she can find an apartment with lower rent someplace else.


In many ways all these persons are trapped by RS. They cannot move because even if found something cheaper, it likely wouldn't be RS so they would be subject to market rate rent at any time in future.


Waiting lines for NYCHA and or subsidized senior housing are long enough now. So long that people actually die before being called. BdeB's "affordable" or whatever housing scheme hasn't produced much new subsidized senior housing either.

over time it will be less and less a percentage of income. even ss is getting almost a 3% increase next year .

but the the problem i see is as ss goes up and the rent is a smaller and smaller ratio i can see eventually you fall out of bounds for scrie even living on ss . i am not familier with scrie at all so i am not sure what happens as the ratio drops between rent and income .

[Mr.Retired]

Originally Posted by livingsinglenyc

I don't know why this is such a shock to people. Most of my life has been like this. Most of people I know are like this.

To be accustomed to this as a young person is such a sad story.
Many years back your one week's paycheck covered all your monthly bills.
Back then there were not as many folks with hands out " saying gimme gimme "
This is what happens when the middle class is no longer appreciated.
They will be sucked dry and forced into poverty or work longer hours,
take on a second job, and work into their late 70's just to make ends meet.
The visions I had of America are gone but they can come back........



Think about the party that has dominated this century............
Are you happy with the results? Where you are heading?
If you are tired and sick of it all get out and vote .................................

[BugsyPal]

Originally Posted by mathjak107

over time it will be less and less a percentage of income. even ss is getting almost a 3% increase next year .

but the the problem i see is as ss goes up and the rent is a smaller and smaller ratio i can see eventually you fall out of bounds for scrie even living on ss . i am not familier with scrie at all so i am not sure what happens as the ratio drops between rent and income .

Besides other qualifications to get SCRIE household income must be $50k or less, and rent must be at least one-third of income.


Off top of one's head that means for $50k, rent would have to be $1375 per month.


Other than that the program is complicated in that yes, it does seem if your income goes up, you can be terminated. Program is run out of Department of Finance so they know from income tax filings at least what a household has for income.

SCRIE isn't permanent either; awards expire after period and tenant must file for renewal. Also landlords can (anonymously) inform city if they believe tenant is not entitled to SCRIE.

Understand your post, but think about how many are running game with side jobs or whatever. That is on paper they cannot pay rent because that income isn't often declared. For SCRIE if you look like a person without visible means of support, they want to know why and how you are living in an apartment but don't seem to have income that covers rent. SCRIE - Senior Citizen Rent Increase Exemption | Metropolitan Council on Housing

[bxlover]

Originally Posted by Mr.Retired

To be accustomed to this as a young person is such a sad story.
Many years back your one week's paycheck covered all your monthly bills.
Back then there were not as many folks with hands out " saying gimme gimme "
This is what happens when the middle class is no longer appreciated.
They will be sucked dry and forced into poverty or work longer hours,
take on a second job, and work into their late 70's just to make ends meet.
The visions I had of America are gone but they can come back........



Think about the party that has dominated this century............
Are you happy with the results? Where you are heading?
If you are tired and sick of it all get out and vote .................................

I agree people have to vote. Yet, honestly the folly is hoping for the restoration of tbat past. Its not returning.. All I know is if I am lucky enough to work to 62, I will have 0ver 7 figures saved, which I will leave to my daughter along with my house. I dont plan to enjoy any of my savings, I am diabetic and have other illnesses. I will retire with my SSA and pension and hopefully I will equip my daughter with enough to help her in what I fear will be a very tough future for young people in the near future. I fear a dystopian future that even sci fi has not envisioned.