Not affordable!! (New York, York, Ovid: 2015, apartments, rent)
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I am on housing connect everyday waiting for new buildings to drop, finally today a bunch of new listings dropped and absolutely none are affordable truly for lower income families. If you can pay over 2000-3000 in rent that means you can find housing without housing connect, which why they are having hard time filling these units. People in that bracket have multiple options where as people in lower bracket don't. This so frustrating there needs to reform on this because is sad for people who have only these means to find housing they can sustain and have good quality of life. To have about five buildings drop on the site and none are in my bracket to apply is so damn sad and infuriating.
You are 100% correct. You said everything I've been feeling about this 'affordable' lottery. This makes no sense and like you said its so infuriating. Especially when they throw up these buildings in neighborhoods that they dont fit it or where the AMI is ridiculous. Like that new one on St Johns. Its ridiculous and Im over it all.
Yeah, I just opened every single link you posted & closed them right back once I seen how much the units were going for SMH some even tried to throw in “incentives” at this point, I’m quite over it.
Quote:
Originally Posted by WildAboutHarry
Here is why some tenants would go through the process. Maybe they can’t afford the extra $250.
I presume, the market rate unit has zero regulation on how much the rent can be increased at lease renewal or new lease. It could double for the next lease. Contrast this with the 130 AMI unit is rent regulated and has a cap on how much the rent can be raised even if the market is booming.
A rent regulated unit at any AMI % has awesome protection against steep rent increases. For a tenant who plans to make a unit their home for several leases this is an important feature. 24 months times $250 is $6000, how much process is worth $6000? And if the rent goes up 10% ($250)for the next lease that’s $12000, $18000 over four years. How important is it for a tenant to save money today for starting a family or for the purchase of a home?
Over the course of a few leases, a 130 AMI unit might become a bargain.
Consider tenants who might be near retirement, or those who can predict their income across many years ahead, civil servants, people who are employed under union contracts. They can assume they are going to change jobs or get a promotion that will increase their income dramatically.
Yeah I can def see that. However, I read an article about how these properties are actually having a hard time filling those 130AMIs. There is also a thread here about higher AMIs and most of what I've read is people pulling out of the process. Yes some follow through but for others don't. (that is very rare with lower AMIs)
I also dont think a $250 difference makes it necessarily affordable. Not when a lot of these expensive places give 1-2 months free rent incentives. yes its not stabilized, but I think they need to change the prices of these places.
A lot of people cannot afford a lot of the new options on housing connect that were just recently posted
I am on housing connect everyday waiting for new buildings to drop, finally today a bunch of new listings dropped and absolutely none are affordable truly for lower income families. If you can pay over 2000-3000 in rent that means you can find housing without housing connect, which why they are having hard time filling these units. People in that bracket have multiple options where as people in lower bracket don't. This so frustrating there needs to reform on this because is sad for people who have only these means to find housing they can sustain and have good quality of life. To have about five buildings drop on the site and none are in my bracket to apply is so damn sad and infuriating.
We are in similar boats. In the open market, most of us dont like the options given to us. People under 80% AMI dont want to live far away from work in an old building.
And People who are in the 130%AMI do not want to live in a tiny decrepit old building thats also far away from work...
"People in that bracket have multiple options" ??? options to live in the ghetto and far away from work when we make close to, or 6 figures?? give me a break!!
Have you even seen the market rates for a apartments that are around $2,400?? give us a break!!! I who makes around 90k, as i am also trying to be sensible with the amount i spend on rent, do NOT have options for a clean safe building in a good neighborhood. Yes I can rent a tiny studio in NYC with NO laundry and I might have more options than someone sinle who makes $60k a year. but why should I be penalized for making more money??
I sick and tired of reading these threads and paragraphs about how people in the 130% ami should not be included in lotteries... we pay a s*it log amount of tax in this city! Have you heard of inflation?? Im not trying to be a dick here, but a single individual who is in the lower end of the 130% AMI does NOT have all these options you are imagining.
Where i do agree that there should be MORE low income and affordable units under the 80% AMI, how are these developers going to make money in the long run if ALL the developments where under 60 or 80% AMI?? Killing of the 100% + AMI developments is just ridiculous. We all need a nice ssafe place to live.
Last edited by LuxurySeeker34; 03-18-2022 at 08:40 PM..
For the building at 11-37 31st Ave, Queens, NY 11106 the market rate for a 1 bedroom is $2,500. On housing connect for 130 AMI a one bedroom is $2,250 LOL what in the world is going on! That is only a $250 difference. Abolish the 130AMI bracket . Makes no sense. If someone can afford that $2,500 why would they go through the process housing connect puts you through to get a $250 discount on rent?
Have you seen the market rate for a single person who can not afford over $2400?? Miss me with that "abolish 130% ami" !!! What a mess lol.
Where i do agree that there needs to be MUCH MORE housing for people under the 100% AMI, but why should someone earning around 80 - 100k per year be penalized with no safe and clean new builds, for living in a crazy expensive city that inflation hits harder than anywhere else?
And some of these 130% AMI buildings that some of you complain about being hard to fill are hard to fill because they have $2400+ rent apartments developments within crappy, decrepit, not even fully gentrified neighborhoods. THEGHETTO.! These are the apartments in the hoods they are trying to gentrify. People making over $90k do not want to live there.. why should they want to??
Anyway like WildAboutHarry said, in the long run even these 130AMI apartments (Which are expensive!) are still a steal because of the rent stabilization. I might be a little heated right now because my current building has raised rent by close to 10%. And id LOVE for one of these new build 'affordable' units so at least my rent wont go up astronomically.
I am on housing connect everyday waiting for new buildings to drop, finally today a bunch of new listings dropped and absolutely none are affordable truly for lower income families. If you can pay over 2000-3000 in rent that means you can find housing without housing connect, which why they are having hard time filling these units. People in that bracket have multiple options where as people in lower bracket don't. This so frustrating there needs to reform on this because is sad for people who have only these means to find housing they can sustain and have good quality of life. To have about five buildings drop on the site and none are in my bracket to apply is so damn sad and infuriating.
I completely agree with you. Its really sad. If someones income is 50K or less they can count it out on hoping to find affordable housing on housing connect at this point in time. With the rise of cost of living especially in NYC and salaries for everyday jobs not going up its all upsetting. I too am always looking on the site for new postings only to find the income threshold way above my income. Im slowly losing hope.
250 dollars discount a year does not make it affordable because the starting rent is already not affordable. I work for the city and we don't get raises, only a small percentage that doesn't cover inflation and clearly won't cover rent increase. This high rent issue in New York contributes to the sad truth that barely anybody can own housing. You'll forever pay rent and god forbid when you're older and something happens, you won't have enough to pay the rent. Then where will you live? How do you save if you're rent burdened?
I agree there aren't enough affordable apartments under 130 AMI, but make no mistake, the 130 rent doesn't benefit the "rich". All these high rents are over 30 percent income for the max they set and most people aren't making 108k+ and applying to affordable housing. Most people who are applying are around the lower cut off so the rent is not under 30 percent of their income. Not to mention, this 30% is calculated on your gross pay, which is different if you're in Florida with no income tax vs NY with city and state tax.
This scheme only benefits the developers getting the tax break. You should be angry at the government agreeing to this deal and the developers already bathing in money, not at the people applying to 130% AMI apartments.
My friend lives in the Bronx . They have a decent amount of affordable housing next to her building. One went up last year and they only offer 130% AMI. She told me she has only seen the same 3 couples come in and out of that building. It looks like most of the units are empty(which has been a problem that the city has even addressed with these high AMI buildings). And it’s because they only have 130AMI options and honestly it’s not in the most desirable part of the Bronx( this is the very definition of gentrifying. I’ve seen a lot of ppl in these high AMI brackets say that the buildings are not in the part of town they’d like them to be). If they lowered the AMI people in the area who have grown up/lived there could apply and move to those buildings.
A 1 bedroom in her older building (renovated) is going for 1,550. The affordable housing building via housing connect advertised the 130AMIs $2,200 for a one bedroom apartment down the block from her.
When I say abolish the 130AMI this is what I’m talking about how does someone in that neighborhood have a fighting chance at wining a lottery down the block from them that only offers 130AMI units? When it’s already hard for them to afford a market rate apartment that’s going for 1,550? Someone making 80k-150k can easily go out and find a market rate one bedroom apartment for 1,700 rent stabilized building in a good neighborhood. No it won’t be “luxury” but the issue here is HOUSING!
And I’m not about to fight about someone being able to find a place for 1,700 that’s renovated because it’s out there. Go to StreetEasy and look. Does someone who makes 30k have the ability to pay that? No. Does someone who makes 80k? Yes. I said what I said. be offended if you want but at the end of the day someone making 80k has a better chance at finding a place to live in GENERAL than someone making 30-40k hell even 50k.
If you win a lottery and and end up turning it down because it’s not in an area you like it the apartment is too small you are in a position of privilege. How many lower AMI lottery winners have you seen turn down an apartment for those reasons? It’s RARE that’s why these high AMI buildings have a hard time getting people and result to advertising on StreetEasy. We never saw that with lower AMIs. People making less are just tying to find a place to live that they can afford .
Last edited by Gilmoregal; 03-19-2022 at 04:18 PM..
Yes housing lotteries have $2300 for a 1 bedroom so they can reach people with a higher AMI. Yes you are right in NYC people can find crappy market rate 1 bedroom at that price but not in those nice safe buildings. Its not affordable to some people to pay market rate $3000-$4000 for a 1 bedroom in a doorman building. The housing lottery has $3000 for a 2-3 bedroom in a doorman building as well. It is impossible to find a market rate 2-3 bedroom in a doorman building. Middle income people deserve just as many perks as low income.
I’m not even talking about perks I’m taking about finding a place to live that’s affordable . People are looking for affordable housing not luxury housing. These just happen to be advertised as “luxury” that’s a choice these developers chose to make.
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at this point, I’m quite over it.
