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No, bottom line is you cannot be "evicted". While required to complete those annual or whatever income statements it seems they are nothing but busy work.
If the unit is RS the only way to be evicted per se is via the luxury decontrol process which am not even sure applies to "permanently affordable" apartments.
This is why the whole 80/20 process is a scam. It isn't "affordable housing", but a backdoor way to increase the numbers of RS tenants with (well) below market rate apartments. If past history is any indication of future performance nearly all such tenants will never leave those units except feet first in a box. So the City will never truly make any huge dent in the "affordable housing" deficient unless or until it creates tens of thousands more of such units .
This may be the best succinct explanation I've come across. Can you explain a bit more.
Where do developers play a role in this? Are they simply adding these units on top of whatever they were going to build anyways? Is this just a way for politicians to outsource the building of affordable housing? Are the 20% of units just a kickback to politicians in order to get the project approved and completed without much city interference?
80/20 seems to be a **** poor way to bring affordable housing unto the market. It would seem to me that a much easier way would simply be to partner with developers in the construction process and maintenance process (effectively subsidizing them) but the ownership of the building would stay with the developer.
quote:
Affordable housing is suppose to help you get your life together. You pay less rent so you are able to better yourself.
Where did you hear this malarcky from? Sorry, but affordable housing is in place so that we can have a mix of people from ALL income backgrounds LEGALLY living here and making the world go round.
I am totally chary though because if a new mayor comes alone he could totally nix the program and then everyone in these 80/20's could wind up getting screwed. That would SUCK. Get in now while you can and then deal with it later I guess? And realize these apartments are not forever apartments. Politics could change in a matter of a year or so and we'd be screwed.
quote:
Affordable housing is suppose to help you get your life together. You pay less rent so you are able to better yourself.
Where did you hear this malarcky from? Sorry, but affordable housing is in place so that we can have a mix of people from ALL income backgrounds LEGALLY living here and making the world go round.
A mix of people living in luxury hi-rises and incentivizing poverty?
Instead of telling people to try to better their lives why don't we tell our kids to get a job at McD's and apply for affordable housing?
No, bottom line is you cannot be "evicted". While required to complete those annual or whatever income statements it seems they are nothing but busy work.
If the unit is RS the only way to be evicted per se is via the luxury decontrol process which am not even sure applies to "permanently affordable" apartments.
This is why the whole 80/20 process is a scam. It isn't "affordable housing", but a backdoor way to increase the numbers of RS tenants with (well) below market rate apartments. If past history is any indication of future performance nearly all such tenants will never leave those units except feet first in a box. So the City will never truly make any huge dent in the "affordable housing" deficient unless or until it creates tens of thousands more of such units .
Should clarify that luxury decontrol does not "evict" a RS tenant, just takes the apartment out of RS to market rate.
If I were you, I would consult an experienced financial planner. It seems you are making a decision, and you need to base it on actual facts. Making the wrong move will be costly.
quote:
Affordable housing is suppose to help you get your life together. You pay less rent so you are able to better yourself.
Where did you hear this malarcky from? Sorry, but affordable housing is in place so that we can have a mix of people from ALL income backgrounds LEGALLY living here and making the world go round.
Then u pay to live where u live based on your income and not a fancy high-rise tower with a pool and movie theater.
Look I am in the income bracket for affordable housing. Sure, I apply cause it would be nice but no where was it stated when I was born I'd be given affordable housing for half my life. Can I make it on a lower income, sure. Is it harder with prices going up yes. Would affordable housing help me out big time, of course. But I don't expect it to be my life long plan or achievement. If I get it, I will use it as it was intended, to boost me up and I can accomplish bigger and better things and pass it down to the next person in need.
You sound very selfish and if you get an apartment you will be there till the day you die. You are what is wrong with society. Always looking for someone else to leech of but in the mean time b*tch and moan and complain oh ny is so hard or I don't have this or that. Its not always all about you. Its a big city with many people, I suggest you look for a way to give back to your community. Maybe that will help ground you.
Then u pay to live where u live based on your income and not a fancy high-rise tower with a pool and movie theater.
Look I am in the income bracket for affordable housing. Sure, I apply cause it would be nice but no where was it stated when I was born I'd be given affordable housing for half my life. Can I make it on a lower income, sure. Is it harder with prices going up yes. Would affordable housing help me out big time, of course. But I don't expect it to be my life long plan or achievement. If I get it, I will use it as it was intended, to boost me up and I can accomplish bigger and better things and pass it down to the next person in need.
You sound very selfish and if you get an apartment you will be there till the day you die. You are what is wrong with society. Always looking for someone else to leech of but in the mean time b*tch and moan and complain oh ny is so hard or I don't have this or that. Its not always all about you. Its a big city with many people, I suggest you look for a way to give back to your community. Maybe that will help ground you.
The 80/20 program is a completely ****ed up government handout. The city is literally picking winners and losers when it comes to the largest expense of any resident in NYC.
If someone makes $100 over the limit, they're not eligible? What person in their right mind wouldn't want to take a cut in pay to be eligible for way below market apartment? Even if someone was $10K over the limit, it would be rational for someone to take a pay cut and try to get an 80/20 unit.
This is one of the most perverse entitlement programs in the US. That's not even mentioning how it completely ****s middle income (the majority) NY'ers.
If I'm making $35K ($31K post taxes at worst) and get an $800 studio, my disposable income is upwards of $20K after rent. Most people making $50K won't clear that in disposable income post rent.
This program must've been instituted when NYC rents were way smaller as a percentage of median income.
If I'm making $35K ($31K post taxes at worst) and get an $800 studio, my disposable income is upwards of $20K after rent. Most people making $50K won't clear that in disposable income post rent.
This program must've been instituted when NYC rents were way smaller as a percentage of median income.
No! People have other bills besides rent and then food on top of that. Yes u will have extra money but more like 10k not 20k.
And if I was making 50K I'd have 25k of disposable income. So maybe those making 50k better learn how to budget better and only buy what they can afford.
No! People have other bills besides rent and then food on top of that. Yes u will have extra money but more like 10k not 20k.
And if I was making 50K I'd have 25k of disposable income. So maybe those making 50k better learn how to budget better and only buy what they can afford.
Except that you're wrong.
Of course people have other bills that's why I noted disposable income post rent. All other expenses are miniscule and can be managed compared to rent in NYC.
If you're making 35K, then you pay the FICA of 6.2% in tax and that's pretty much it. A person making 50K, will have an effective tax rate closer to 20%. Furthermore, you're probably getting free medical care and the person making 50K has to actually pay some type of premium.
If you were making 50K, there's no way you'd have 25K of disposable income you fool. That must be the dumbest comment I've heard in a while. What are you going to tell me? That they should live with 10 roommates and pay $500 in rent while eating ramen, stealing their neighbors wifi, and reading books in the library for entertainment?
I would say that "comfortable" in NYC comes for single people making 60K+. I'm not even going to talk about couples with children. A 3-4 person family with an 80/20 apartment and 60K in income has it better than most NY families making up to $150K. You better believe it.
Yes, a person making 35K with an 80/20 apartment has it better than most single people earning the median income. This isn't even debatable.
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