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Groundbreaking_Tank2 OP t1_iuyng24 wrote

Reply to comment by Head_Acanthisitta256 in Mayor throws support behind Innovation QNS as potential rejection looms by Groundbreaking_Tank2

The residents of Astoria are seeing massive rent increases because there's a massive shortage of housing in New York City. Being a NIMBY and blocking every new apartment proposal (especially when it contains 40% affordable housing) hurts every renter in New York.

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Head_Acanthisitta256 t1_iuyou3k wrote

LOL!

Astorians are seeing massive rent increases because of the major influx of luxury apartment complexes that were built or being built.

These new complexes raise the avg monthly rent of the neighborhood. And when new tenants come along landlords will ask for market rent which was artificially inflated by the new developments.

There’s no guarantee that this development will even create 40% affordable housing.

The only way to help renters is through building AFFORDABLE housing not majority luxury housing that’ll increase the rents of a neighborhood.

The supply side lies about new units lowering rents is so absolutely hilarious!

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Groundbreaking_Tank2 OP t1_iuyqqqu wrote

When vacancies are low, rents go up. When you build more housing, you get more vacancies, and rents go down.

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No matter how much mental gymnastics you try, you will never get around that fact. Stop being a NIMBY.

https://www.thecity.nyc/2022/9/27/23373855/affordable-housing-crisis-city-council-eric-adams-throgs-neck

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Head_Acanthisitta256 t1_iuyr6tn wrote

When you inject more units with a high avg monthly rent, rent in the neighborhood will go up.

No matter how much mental gymnastics you try, you will never get around that fact. Stop being a greedy developer.

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Groundbreaking_Tank2 OP t1_iuys1m1 wrote

The data proves you wrong again.
If you can put all your brain cells together you should try this thing called "reading".

https://direct.mit.edu/rest/article-abstract/doi/10.1162/rest_a_01055/100977/Local-Effects-of-Large-New-Apartment-Buildings-in?redirectedFrom=fulltext

https://www.crainsnewyork.com/real-estate/gentrification-wars-studies-doubt-new-yorkers-are-being-pushed-out

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Head_Acanthisitta256 t1_iuysvp5 wrote

LOL! I can’t stop laughing at this so called “data” which is really just corporate talking points behind paywalled websites. You are unintentionally hilarious!!!

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[deleted] t1_iuyth2e wrote

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Head_Acanthisitta256 t1_iuyuuqd wrote

LMAO! What facts??? There are thousands of new units built in western queens and the rents have skyrocketed because of them. None of this so called data shows what’s going on there. Keep your developer talking points, don’t need them.

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