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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 correct! There definitely is a mismatch between the people who need housing and what the city is making available.
I read the other day that the higher brackets exist because the city can contribute less money to those projects because the higher rents those people are paying can be used to make up for the lower rents in the other brackets.
It seems to me that these public-private partnerships are usually weighted toward the private end getting the most out of the deal.
I was thinking the same thing! I just posted a bunch of options that I myself cannot even apply to. Its truly a shame and very sad. There are only really 4 buildings I've applied that have log numbers coming out in the next few months that I can truly afford.
Watch these new expensive ones have a hard time filling the units.
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.
This is true. I have been applying to housing lotteries for nearly a decade and I have noticed over the past few years that there are progressively less options for lower-income people/families to apply to.
I was thinking the same thing! I just posted a bunch of options that I myself cannot even apply to. Its truly a shame and very sad. There are only really 4 buildings I've applied that have log numbers coming out in the next few months that I can truly afford.
Watch these new expensive ones have a hard time filling the units.
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.
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?
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?
Wow and I’m sitting here thinking maybe rent is $3500 at least based on that price. I finally have a salary in the 130% starting next month. Only happy because it will provide me with actual choices when it comes to housing. But I would rather go through the building for $250
Location: Read the Marketing Handbook, and Income a Guide.
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Quote:
Originally Posted by Gilmoregal
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?
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.
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at this point, I’m quite over it.
