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Add it to the gargantuan mountain of reasons to not live there. 300 sq ft? Enjoy being a sardine.
Most unmarried people I know here in Manhattan are only at home to sleep and maybe to change clothes between working and going out. Many would gladly rent a 200 sq ft apartment on the cheap if they could find one.
People would love to have 300sq ft. cheap housing in Manhattan. People in NYC are hardly at home because there is so much to do in the city. Its not some backwater boring city with nothing going on.
Well if the demand is there,enterprising property owners will take advantage. No need for guv to be involved in housing.
the government is already involved. If people think that this is simply lassie fairez economics at play, then you have your head under the hood. The city regulates the market through property taxess, strict zoning laws and by subsidizing housing. This is just another dressed up form of price gouging.
People would love to have 300sq ft. cheap housing in Manhattan. People in NYC are hardly at home because there is so much to do in the city. Its not some backwater boring city with nothing going on.
Great, if real estate is at such a premium in NYC, get the US out of the UN and tear down that delapitaded building for condos. The market will set the price.
Apparently "rent control" didn't work out too well did it? Well, maybe for Charlie Rangle.
Maybe if the government didnt run around taxing it to hell, it wouldnt be so dam expensive to live there..
Sorry nothing to do with taxes, just pure supply and demand. The taxes in NYC are only slightly higher than say in Kansas.
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