Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
If they cant afford to reno a unit when someone moves out that means they cannot afford to have the business.
Not all businesses work out. A lot go under. Might be worth it to walk away from it completely then. Have someone who can afford the reno do it and move someone in. Don't have 60k units just sitting there
I doubt that all 60k units need 50k worth of reno...
Quote:
Originally Posted by macnyc2003
I don't know why warehousing apartments is legal.
Welcome to the welfare state ladies and gentleman. Where the numerically illiterate blend with the authoritarian to explain why capitalism is bad because capital choosing not to work to support freeloaders is wrong.
First off from what I read in the article there is no mention of covid having negative impact. "Numbers compiled by the staff of the city Rent Guidelines Board suggest that by and large, they’re doing just fine, or better. "
"The typical owner of rent-stabilized property would have made over $6 million of post-expense income in 2020 alone"
They said they want to make renovations but cant afford to meanwhile they are also "deliberately pushing out rent-stabilized tenants and keeping those apartments vacant." - why??
"One tenant recalls what appeared to be “construction as harassment” on his floor, filling hallways with dust and potential toxins from within the walls, and pushing several rent-stabilized families to move out. " -why???
Has greed written all over it. Let them go to court. I'd love to see how it plays out for them. Maybe the federal government can step in and start freezing rents again. They are already hiking up the mortgage rates
If they cant afford to reno a unit when someone moves out that means they cannot afford to have the business.
Not all businesses work out. A lot go under. Might be worth it to walk away from it completely then. Have someone who can afford the reno do it and move someone in. Don't have 60k units just sitting there
I doubt that all 60k units need 50k worth of reno...
If the math doesn't work out how does a new owner matter? This is how the Bronx burned, the buildings simply weren't worth the cost to maintain them.
Don't get me wrong, the poor need a place to live, but this is the wrong way to go about it. Things were working better when it was the 80/20 program. 80% market rate 20% low income.
If the math doesn't work out how does a new owner matter? This is how the Bronx burned, the buildings simply weren't worth the cost to maintain them.
Don't get me wrong, the poor need a place to live, but this is the wrong way to go about it. Things were working better when it was the 80/20 program. 80% market rate 20% low income.
The 421a was actually not working better. Landlords/developers figured out a way to play the system shown in that article I just posted ^ I’m sure there are more that haven’t been caught yet. Also these developers almost always pick the 130AMI which is only a couple hundred dollars cheaper than what they list the market rates for. So if you think it was working better for developers/landlords yes. But it was not doing what it was created for. Very little oversight creating an easy way to commit fraud and scam with tax payer dollars
Nice to hear that you support criminals. Not shocked
I don’t support anyone. Look at the da and his memos on downgrading felony thefts involving guns.
I posted facts and you say I support criminals ? No one should steal from anyone. But with the Manhattan da it doesn’t fit any jail time guidelines. Why does this change ?
Nytimes article
“The crimes he instructed prosecutors to avoid seeking jail time for include certain robberies and assaults, as well as gun possession in cases where no other crimes are involved. He also directed that they no longer request prison sentences of more than 20 years absent “exceptional circumstances.”
Mr. Bragg’s goal is to find alternatives to incarceration, especially for first-time offenders, an aim he seeks to balance with the need to keep the public safe. In the way they take into account the experiences of those who are charged, his policies resemble those of several prosecutors in big cities around the country who have been elected over the past five years.”
Based on his polices stated in his own memos any lawyer will say he’s targeting them if he requests jail time. Especially a first time offense in his words.
Of course there aren't scammers in NYCHA and the affordable housing lotteries.
The story you posted is further proof of how all of the regulation distorts the market.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
