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Main culprits? I'd say technology, international competition and outsourcing, and a greater tendency for those at the top to pay as little as possible and keep more of the pie for themselves.
medical technology has done a lot of wonders in saving human lives, at the same time, it creates a snowballing problem for all advanced human societies: the accumulation of high-maintenance, costly, and non-productive members of the society that linger around for overly long but meaningless periods of time in life. The socioeconomic burden of the problem in the US really has just surfaced and when it peaks, the country will take a serious tumble.
medical technology has done a lot of wonders in saving human lives, at the same time, it creates a snowballing problem for all advanced human societies: the accumulation of high-maintenance, costly, and non-productive members of the society that linger around for overly long but meaningless periods of time in life. The socioeconomic burden of the problem in the US really has just surfaced and when it peaks, the country will take a serious tumble.
Reason: Aging was developed into a site of predatory value extraction.
And like all other such schemes, which currently define our culture - No. This is not at all sustainable.
Landlords are not responsible for the high rents. Rents are high not because of landlords' greed, but because of the many costs of running a building.
* Property taxes.
* Many other taxes and fees associated with running a building, and a business (city, state, and federal).
* Insurance -- liability (slip & fall lawsuits), fire, water damage, and other casualties.
* Employee salaries -- BTW, many building workers (supers, janitors, doormen, etc.) are unionized in NYC.
* Repairs -- Elevator repairs, plumbers, and all manner of workers who must be paid to keep a building running -- and all those business also have expenses (e.g., high taxes and fees).
Hey, how about De Blasio and the Left suggest that landlords be exempt from all taxes, provided they'd pass along the savings to the tenants via lower rents? I don't hear any of those suggestions.
The government Leftists want to keep extracting ever more money from landlords -- but landlords can't print money. They must get it from the tenants before they can pass it along to the goverment.
Hey, how about De Blasio and the Left suggest that landlords be exempt from all taxes, provided they'd pass along the savings to the tenants via lower rents? I don't hear any of those suggestions.
Hey, how about the Right suggest that landlords take their cash and choose other investments, provided they'd be supervised every inch of the way given that we have seen enough corruption and greed ? I don't hear any of those suggestions.
[Note: Yeah, I do understand that "Right" should not be capitalized]
What worries me is knowing the homeless rate will only grow. All those threads about people coming to ny to live off the system and in our shelters frustrates many people because people who have been in ny for years are winding up in shelters due to not being able to afford their rent anymore. So between the two I see the numbers rising and rising.
Housing, transportation and public education are the biggest social ills in this city. State and city can not fix these problems and thrown money at a black hole that never sees a return again.
Landlords are not responsible for the high rents. Rents are high not because of landlords' greed, but because of the many costs of running a building.
* Property taxes.
* Many other taxes and fees associated with running a building, and a business (city, state, and federal).
* Insurance -- liability (slip & fall lawsuits), fire, water damage, and other casualties.
* Employee salaries -- BTW, many building workers (supers, janitors, doormen, etc.) are unionized in NYC.
* Repairs -- Elevator repairs, plumbers, and all manner of workers who must be paid to keep a building running -- and all those business also have expenses (e.g., high taxes and fees).
Hey, how about De Blasio and the Left suggest that landlords be exempt from all taxes, provided they'd pass along the savings to the tenants via lower rents? I don't hear any of those suggestions.
The government Leftists want to keep extracting ever more money from landlords -- but landlords can't print money. They must get it from the tenants before they can pass it along to the goverment.
This is very true. All these costs run up a building along with property taxes. Also I would like to add that landlords also slip money to left liberals to keep their mouths shut.
Landlords are not responsible for the high rents. Rents are high not because of landlords' greed, but because of the many costs of running a building.
* Property taxes.
* Many other taxes and fees associated with running a building, and a business (city, state, and federal).
* Insurance -- liability (slip & fall lawsuits), fire, water damage, and other casualties.
* Employee salaries -- BTW, many building workers (supers, janitors, doormen, etc.) are unionized in NYC.
* Repairs -- Elevator repairs, plumbers, and all manner of workers who must be paid to keep a building running -- and all those business also have expenses (e.g., high taxes and fees).
Hey, how about De Blasio and the Left suggest that landlords be exempt from all taxes, provided they'd pass along the savings to the tenants via lower rents? I don't hear any of those suggestions.
The government Leftists want to keep extracting ever more money from landlords -- but landlords can't print money. They must get it from the tenants before they can pass it along to the goverment.
Property taxes remained high under Giuliani and Bloomberg because property taxes pay for public services like public schools, MTA/public transportation in part, etc. The city also needs a tax base for services like the NYPD and the NYFD. And public libraries.
With that said landlords are business people and they will charge what the market can bare. Like any other business.
No raise in years, nearing 40 years old and still living with roommates, and 20K in credit card debt later, I am starting to agree. The problem is that I don't drive.
Walking up Third Avenue last week with some friends around 11PM we get to the corner of 89th (Milano Market). A well dressed older white woman gets out of her late model Lexus SUV and makes a bee line for the rubbish bags on curb. She takes several shopping bags from her car and starts filling them with bread and other things found while "dumpster diving" through the rubbish.
Now have seen this before all around the UES but never someone driving a Lexus. In fact am seeing more and more "young" or whatever white middle class persons digging through rubbish bags outside of supermarkets/ food places around the UES. These are not the usual homeless or grungy "dumpster divers", but people who obviously have homes and are employed.
You talk to various small business persons such as hair dressers, decorators and so forth and they will tell you things mostly *suck*. Yes there seems to be no shortage of multi-millionaires or even billionaires running around NYC, but that is a small percentage of the overall population. Know persons who work for places like ConEd, work in rent payment office for landlords and so forth; all say they have never seen so much late or slow paying. Many persons simply are moving money around each month trying to keep the lights on and from being put out on the street. We're talking about paying rent at the end of the month or just a few days into the next.
Am also seeing many persons moving house on the UES as well. If you look up at windows you can see a good number of empty apartments. True some or all will rent eventually but the fact many are having to make tracks isn't good.
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