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Old 07-10-2019, 12:06 AM
 
144 posts, read 133,515 times
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I’m skimming through the list of current affordable housing lotteries, I’m noticing that a lot of this lotteries are not really that affordable after all, at least not for my income.

I smelled a rotten egg here, landlords using tax huge tax breaks and still asking almost market rate for this so called affordable housing units, win win situation… with the exemption of a few projects most of them are asking way too much for median and up earners. My rant for the day!
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Old 07-10-2019, 06:17 AM
 
Location: JC
1,609 posts, read 962,873 times
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Affordable housing is a hidden tax on those of us who are not poor but also not rich. My rant for the day.
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Old 07-10-2019, 06:44 AM
 
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What do you mean by not affordable? Most of the lotteries require you to make about 40x the rent. Apartments around $1000 income bracket is at max $44k.
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Old 07-10-2019, 06:59 AM
 
Location: Manhattan
21,506 posts, read 28,411,258 times
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Quote:
Originally Posted by nycman9 View Post
I’m skimming through the list of current affordable housing lotteries, I’m noticing that a lot of this lotteries are not really that affordable after all, at least not for my income.

I smelled a rotten egg here, landlords using tax huge tax breaks and still asking almost market rate for this so called affordable housing units, win win situation… with the exemption of a few projects most of them are asking way too much for median and up earners. My rant for the day!

I agree 100%.


Actually, NO development getting tax breaks to call itself "affordable" should be able to set prices above the 50% median AMI. The system was not set up to make apartments affordable to the Astors, the Whartons, and the Kochs, nor to hedge fund operators and surgeons.


Even the AMI is rigged because it includes the surrounding counties, some of the highest income counties in the country. AMI should be average median income for NEW YORK CITY and ONLY New York City and not include Fairfield, Bergen, Nassau and Westchester counties

Last edited by Kefir King; 07-10-2019 at 07:08 AM..
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Old 07-10-2019, 07:12 AM
 
231 posts, read 186,140 times
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idk why people are saying not affordable
like 90% of the crap i seen are for people who make 20 to 40k
if you can't make 20k a year then you shouldn't be in NYC
i wish they had more lottery for actual middle income people because the median salary of nyc is 55k which these so called lottery always skip. they always go for 75k+
asking people for 2000 for a studio
who's in their right mind will pay for that. if they can pay that much they wouldn't asked for lottery.
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Old 07-10-2019, 11:14 AM
Status: "contemplative transplant" (set 22 days ago)
 
65 posts, read 29,370 times
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Quote:
Originally Posted by Kefir King View Post
I agree 100%.


Actually, NO development getting tax breaks to call itself "affordable" should be able to set prices above the 50% median AMI. The system was not set up to make apartments affordable to the Astors, the Whartons, and the Kochs, nor to hedge fund operators and surgeons.


Even the AMI is rigged because it includes the surrounding counties, some of the highest income counties in the country. AMI should be average median income for NEW YORK CITY and ONLY New York City and not include Fairfield, Bergen, Nassau and Westchester counties

the city uses neighborhood/project zip codes for determining data not surrounding county/suburban data ... this is per a couple of folks I know working at HPD on affordable housing developments.
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Old 07-10-2019, 11:53 AM
 
Location: Brooklyn, New York
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I believe the rule is to qualify as 'affordable', sum of the units must not exceed an average of 90% AMI. So you can have some units at 120% AMI as long as they are offset by units set as 60% AMI in the same building.
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Old 07-10-2019, 12:01 PM
 
Location: Eric Forman's basement
1,987 posts, read 2,118,586 times
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Quote:
Originally Posted by Gantz View Post
I believe the rule is to qualify as 'affordable', sum of the units must not exceed an average of 90% AMI. So you can have some units at 120% AMI as long as they are offset by units set as 60% AMI in the same building.
How would you explain something like this building? Some 32 "affordable" units are up for grabs, all of them in the 130% AMI bracket.

https://a806-housingconnect.nyc.gov/...entPdf/763.pdf
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Old 07-10-2019, 12:07 PM
 
22 posts, read 18,108 times
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I agree the lottery has been skewed and it seems there a many apartments consistently available at 130% ami. When you look at lotteries in certain neighborhoods the rent asked is supoer high especially outside manhgattan. My next thought is if it is 130%+ of the AMI how many of those apartments are actually filled becasue ofthen if someon has what is being asked at that income they would get a better rate in a reg apartment in the city without all the hoop jumping that is involved in a lottery apartment. The other think I feel that low mid income is the group that is often shafted and the one most in need. Not eligible for any assistance but all the tax weight falls on you. When you go look at apartments they ask 40X the rent and most lower mid income cannot price into that. We who are at the 65-100 ami could also use a little assistance but we are always fragged because there is very little for us and we are most in need of a little assistance. Those who say get out if you can't afford NYC would be very unhappy if there was a mass exodus of the lower middle class becasue the upper echelon would have to pay more in taxes and those who are at the low end would be strapped if the upper end decided they wanted services cut. there is a balance and the middle is it, both ends are supported by the middle as opposed to any other way around. Too many people complain about all the services for the lower and lowest income but it is a necessity. The problem is that the middle and the low middle could use a little help too and we are often left to fend and flounder on our own. The truth is that we struggle and keep on going and the world continues carried on the back of the middle class. Which also feels like the most often forgotten group but the group that takes up the slack from the other ends
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Old 07-10-2019, 12:36 PM
 
Location: Brooklyn, New York
3,752 posts, read 3,859,615 times
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Quote:
Originally Posted by macnyc2003 View Post
How would you explain something like this building? Some 32 "affordable" units are up for grabs, all of them in the 130% AMI bracket.

https://a806-housingconnect.nyc.gov/...entPdf/763.pdf
I believe this building is probably under 50/30/20 program. 30% of the units are set up to 130% AMI, with another 20% of units that will be set at up to 50% AMI (15% must be at 40% AMI). I am guessing those low AMI units are just not out for the lottery yet, and may have a separate lottery in the future or something. Only 50% of the building will be market rate. This is not a traditional 80/20 building.
Quote:
Originally Posted by Draconyte View Post
I agree the lottery has been skewed and it seems there a many apartments consistently available at 130% ami. When you look at lotteries in certain neighborhoods the rent asked is supoer high especially outside manhgattan. My next thought is if it is 130%+ of the AMI how many of those apartments are actually filled becasue ofthen if someon has what is being asked at that income they would get a better rate in a reg apartment in the city without all the hoop jumping that is involved in a lottery apartment. The other think I feel that low mid income is the group that is often shafted and the one most in need. Not eligible for any assistance but all the tax weight falls on you. When you go look at apartments they ask 40X the rent and most lower mid income cannot price into that. We who are at the 65-100 ami could also use a little assistance but we are always fragged because there is very little for us and we are most in need of a little assistance. Those who say get out if you can't afford NYC would be very unhappy if there was a mass exodus of the lower middle class becasue the upper echelon would have to pay more in taxes and those who are at the low end would be strapped if the upper end decided they wanted services cut. there is a balance and the middle is it, both ends are supported by the middle as opposed to any other way around. Too many people complain about all the services for the lower and lowest income but it is a necessity. The problem is that the middle and the low middle could use a little help too and we are often left to fend and flounder on our own. The truth is that we struggle and keep on going and the world continues carried on the back of the middle class. Which also feels like the most often forgotten group but the group that takes up the slack from the other ends
80-100% AMI bracket is pretty tough, since I think only under M^2 program do you even get those ranges...
The up to 40% bracket is a sweet spot (basically bums who manage to make below minimum wage in yearly income or elderly I guess). That's where the votes are.

Last edited by Gantz; 07-10-2019 at 12:49 PM..
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