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I'm in the same position your ex is in. I used to pay only 1300 for a one bedroom 700 sqft apartment. But I lived in that apartment for a very long time as I didn't want to spend all of my disposable income on rent.
The people making over six figures who complain about a rent stabilized increase do so because they are saddled with student loan and other debt.
None of them complain because they just don't want to pay more ? It's always some sob story?
It's been going on for > 70 years in one form or another. Democrats doubled down on things in 2019 and made RS permanent unless, when or if vacancy rate reaches 5%. Until such time there is still a housing "emergency", and Albany will never let go of regulation, period and case closed.
Republicans managed to get vacancy and luxury decontrol passed, and you see how fast once democrats got into majority that vanished.
If anything new RS laws opened up the floor to higher income households to have some skin in game. So now any idea of removing RS even for only upper income tenants just won't fly.
Quote:
Originally Posted by pierrepont7731
I live in a similar area. Totally fine with the express bus from Bay Terrace and the railroad into Manhattan.
It can be tricky if you don't have a car there, but most people drive. For those who don't, there are the City buses to get around too.
Bay Terrace is nice. Several co-ops there that I'm familiar with. Housing stock is not as appealing though. I prefer Little Neck and Douglaston for that reason.
Im in south Brooklyn very often (family). Even with no traffic, it's a solid 45 minutes from Bay Terrace. Add any traffic and it's an hour -1:30.
From Park Slope or downtown BK without traffic I'm there in 25 minutes max and 20 if I just go 80mph on the belt (when there's light traffic). With heavy Traffic still under an hour.
I'm in the same position your ex is in. I used to pay only 1300 for a one bedroom 700 sqft apartment. But I lived in that apartment for a very long time as I didn't want to spend all of my disposable income on rent.
The people making over six figures who complain about a rent stabilized increase do so because they are saddled with student loan and other debt.
No, not really.... Much depends upon what number such persons are paying in rent for their regulated unit.
Some one earning $110k and paying $1k per month (give or take) is different than another earning same but rent is $2k or more per month.
Sweetest RS deals for those who are high earners are households who moved into such a unit years ago, and never left. Those who have gotten RS apartments recently, including affordable housing lottery winners often are paying far more in rent, not that much below market.
Im in south Brooklyn very often (family). Even with no traffic, it's a solid 45 minutes from Bay Terrace. Add any traffic and it's an hour -1:30.
From Park Slope or downtown BK without traffic I'm there in 25 minutes max and 20 if I just go 80mph on the belt (when there's light traffic). With heavy Traffic still under an hour.
We're not talking about Bay Terrace to Brooklyn though. I was talking about Bay Terrace to Manhattan.
A lot more voters than LLs. It's just talk. My guess is they'll go for 5% (or less) over 2 years.
It never stopped RGB before from voting on some pretty steep increases.
Besides barely 30% of registered voters bother. That's how we end up with clowns for mayor and in city hall.
Keep in mind if value of rent regulated buildings decrease, so do their property taxes. That may sound like a good thing, but city relies heavily on such taxes, especially on commercial property which covers all multi-family outside of small 1-3 family homes.
Inflation doesn't cause Recession. FIGHTING INFLATION DOES.
No sign of fighting inflation on the horizon.
example: Inflation goes to 5%, Fed "fights" it with a friggen QUARTER POINT increase in interest rates...market falls slightly and Fed stops "fighting inflation" because the Fed knows who they work for.
Inflation is galloping. Fed continues a stimulatory policy, just a teeny-weeny less stimulatory than the last 12 years.
Yes, inflation can be good or bad DEPENDING ON WHO YOU ARE. If you are a stockholder (in anything but Netflix) it is good indeed. If you own a supermarket that can willy-nilly double its food prices, you are fine.
But consumers living on Social Security and cash savings, sorry, you are SCREWED.
obviously it isn’t rising rates that cause a recession as 2008 had rates lowered 9x
Inflation is like a giant money suck …
It takes our money that should have gone to multiple businesses and multiple products and restricts who gets it and how much ..
So business suffers and the economy suffers even without factoring higher rates which compound the rise in prices and restricts even more what we have to spend on goods and services
Most people are no longer buying this and that , they are forced to choose between this or that .
High Inflation can and usually does lead to recession. Raising rates compounds it which is why at 3% the bond market is pretty layed back in 9% inflation
Whether it is a monetary restrictive driven recession like the 1970s or a loose accommodating recession like 2008 remains to be seen .
But obviously it isn’t rising rates that cause a recession as 2008 had rates lowered 9x..
As well as stock markets fell while rates were lowered 9x …so simple answers to complex issues are going to be the wrong answers
Last edited by mathjak107; 04-23-2022 at 07:25 AM..
Higher interest rates do not affect your insatiable Demand for everything in short Supply.
When Demand is high and Supply is fixed or decreasing, prices rise.
That is ECON 101.
Oil Demand in the US is constant or increasing. Oil Supply is reduced. The price of oil rises and in turn increases the price of gasoline.
Increasing the interest rate has no effect on oil Demand or Supply
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