Comments
Myske1 t1_j1z2khk wrote
This pro-real estate developer piece is absurd. We lack the infrastructure for a housing boom in NYC, but I suppose the Trumps and Kushners of the world need even more money to maintain their egos.
Edit: LOL downvotes from real estate developer shills.
Pool_Shark t1_j1z5m8n wrote
These YIMBYs claim they want housing prices to go down but when you mention other issues like Airbnb’s, vacancy taxes, or converting office buildings they get offended.
There is an agenda here and it’s not to drive down prices for the average person.
D14DFF0B t1_j1z7k1q wrote
> Airbnb’s
These are already illegal for short-term stays. I don't see your point
> vacancy taxes
How would this work exactly? Would every owner have to "check in" on an app every day proving their location?
> converting office buildings
There are many obstacles to this on a broad scale. Where it make sense, we should do it.
michaelmvm t1_j1z8shu wrote
we have a shortage of over 500,000 homes in nyc. there are not anywhere close to 500,000 vacant units + airbnbs. and office conversions, while they absolutely should be done, are more expensive than just building more housing.
Pool_Shark t1_j1zc5e2 wrote
Lol if you think of being illegal stops airbnbs. Doesn’t matter what the law is if no one enforced it.
Vacancy taxes make it cost prohibitive to sit on property until you get someone willing to pay a high price. The city already has records of all apartments it’s a matter of adding a tax if they are vacant for x amount of time.
ForeignWin9265 t1_j1zca8e wrote
Converting old stock office building into residential should be the main priority
D14DFF0B t1_j1zci61 wrote
Again, how do propose to know the vacancy status of each and every apartment in the city?
Brambleshire t1_j1zdbkq wrote
case in point.
D14DFF0B t1_j1zdff4 wrote
Yeah, I'm super offended you got me!
throws_rocks_at_cars t1_j1zdgp5 wrote
I am mega yimby and i am absolutely not offended by those proposals, and I can’t think of anyone who is. Those are all good things that almost all yimbys support.
Brambleshire t1_j1zdr4x wrote
Yes we need more housing, but it needs to be affordable, and it needs to include people who would otherwise be displaced. Letting developers evict people and build all luxury everywhere is not the only choice.
actualtext t1_j1zeq7v wrote
> Similarly, New York state lags badly behind California, Massachusetts, Florida, Illinois and even neighboring Connecticut and New Jersey when it comes to state level land use reforms. In these other states, local governments were barred from refusing new housing, or were issued housing creation goals that they needed to meet lest they face state intervention. Meanwhile, New York’s localities have no obligation to create housing. Often, the wealthiest and most exclusionary locales are the worst offenders in resisting building new homes, shifting the task to lower-income areas with less political power. Statewide and citywide goal setting, backed by the power to intervene in local decisions, mitigates this inequity.
I hope our legislature can pass some reform forcing local governments to approve new housing. Particularly, areas near public transit options like the MetroNorth or Long Island Railroad. Likewise, I hope the city can get away from this bullshit where local reps are single-handedly able to block a proposal for new development.
Brambleshire t1_j1zffnp wrote
What is your motivation for being fine with luxury housing, but concerns over airbnb etc is real shit? Are you a developer or landlord yourself?
actualtext t1_j1zgf1j wrote
We lack the infrastructure for a housing boom in NYC? What are you talking about? We literally have the biggest public transit system in the entire country. Do you mean something else by infrastructure?
mdervin t1_j1zh572 wrote
What's more expensive, a new or used car? New or used clothing?
As a general rule, it's obviously new. New stuff is more expensive than old stuff.
Developers don't want to build "luxury" buildings in poor neighborhoods, they would rather build in Manhattan below 110th or certain parts of Brooklyn and Queens near good reliable transportation because they would be able to sell/rent the places for a lot more, but we don't let them. Our Zoning, Historical Districts and other laws force them to build in Gentrifying areas. Why do people gentrify neighborhoods? Because they can't afford or find anything in their desired neighborhoods.
mdervin t1_j1zh8gw wrote
>These YIMBYs claim they want housing prices to go down but when you mention other issues like Airbnb’s, vacancy taxes, or converting office buildings they get offended.
Citation needed.
D14DFF0B t1_j1zhxe4 wrote
I'm fine with luxury housing because all new housing is good. We should have a lot more of it.
I don't think short-term rentals are good.
I'm not a landlord or developer.
Pool_Shark t1_j1zihwi wrote
Browse Reddit for more than a week
Pool_Shark t1_j1zirus wrote
Because it’s all in taxes. Rent is income that landlords have to report. I’m sure there are plenty of other records for each unit as well
mdervin t1_j1zkr8s wrote
Edit: Buddy, I'm on reddit way more than I'd like to be.
If it was that easy you'd be able to show at least one link.
Such as:https://www.reddit.com/r/yimby/comments/navop8/from_a_yimby_point_of_view_does_airbnb_contribute/
https://www.reddit.com/r/yimby/comments/a4v72g/why_bother_fixing_our_policy_problems_when_we_can/
Brambleshire t1_j1zlk7n wrote
Why are you talking like we just have to accept the pure free market and developers whims like it's an act of God? Real estate is WILDLY profitable in nyc. Don't hit me with that crying poor shit. Theres more wealth in this city than anyone can comprehend. Not building affordable is a choice not something unfortunate that just can't be helped.
Brambleshire t1_j1zm2hm wrote
But why do you think it HAS to be luxury? What if i told you we could build mountains of affordable housing without displacing people? You'll probably tell me it's not possible.
Its all these laissez-faire evangelists who pretend that the "free" market is god and we just have to build luxury cuz that's what developers want 🤷🏻♂️.
Myske1 t1_j1zmikh wrote
Sewage infrastructure. Water. Roads. And, yes, transit. Having the largest system doesn't mean that it has infinite capacity.
cramersCoke t1_j1zo9hb wrote
These local municipalities will fight tooth & nail to “preserve“ their property values cough cough I mean neighborhoods. Urban living has such a bad wrap in everywhere across this country that people are brainwashed to think that their detached SFH w/ a giant SUV is the best way to live.
cramersCoke t1_j1zoirw wrote
Bruh, lower-cost housing without building more housing literally does not exist.
Myske1 t1_j1zp3j1 wrote
Sure it does. It's called moving to somewhere else. Cleveland. Detroit. Hell, any city except SF. Not everyone gets to live in NYC, and when more people start looking elsewhere, the pressure on the housing market will lessen. If you can't find a place to live here, get your ass to Rochester.
Anonymous1985388 t1_j1zp4dt wrote
Agreed. How long are we going to let all this vacant commercial space sit unused, before we take action and convert these to residential.
D14DFF0B t1_j1zqk9o wrote
Where did I say that?
I just want to remove restrictions on building. There will be more "luxury" apartments build in on the UWS and Chelsea. And there were will be cheaper units built in the outer boroughs.
elizabeth-cooper t1_j1zqllh wrote
Maybe this country would be in better shape if the coasts weren't such brain drains and the smart people would go back to where they came from after college.
Mattna-da t1_j1zqpq2 wrote
I tend to believe only developers use words like “housing crisis”. What I see is price gouging landlords who base property values on international oligarchs who are laundering money and avoiding their taxes. Wealth inequality is the highest it’s been since the 1920s. We need a rent strike and price caps.
Wowzlul t1_j1zqxi7 wrote
I'm very glad that this city was built by people who didn't think like you.
Hoser117 t1_j1zrhkt wrote
If it's wildly profitable to build affordable I'm pretty sure people would be doing it and profiting from it.
I'm not a real estate developer apologist or anything, but in general I trust their ability to make a shit load of money and if they're saying the best way to make money is to build luxury then I believe them.
Greedy people will make money however they can. If it was extremely profitable to build affordable housing they would be doing it. It's on the city to change the environment the developers are operating in so that it is profitable to build affordable housing.
elizabeth-cooper t1_j1zs0l5 wrote
This city was built by immigrants, not transplants.
[deleted] t1_j1ztf75 wrote
[removed]
BraveSirZaphod t1_j1zudu0 wrote
Not to mention, Manhattan is significantly less dense than it was 100 years ago.
Wowzlul t1_j1zuj41 wrote
This is the kind of rhetoric you hear in San Francisco, or the Bay Area generally. I honestly thought we were better than this.
[deleted] t1_j1zv3aa wrote
Bubble_Bowl_MVP t1_j1zvk78 wrote
A new Lamborghini is also more expensive than a new Honda. This isn't new vs old, it's luxury vs affordable.
Developers absolutely want to build luxury housing in poor neighborhoods, just look at what's happening in Williamsburg, Astoria, and Harlem. That's what gentrification is.
In order to house everyone and avoid displacement, we need a system that is not driven by profit motive. To start, that means high vacancy taxes and building government funded housing that's affordable to most New Yorkers. To go further, it means expropriation of real estate from greedy developers.
Myske1 t1_j1zw1uv wrote
Lived here for all my life, and I’ve seen neighborhoods wrecked by overdevelopment. At some point, enough is enough, and we need to stand up to the crooked real estate industry.
You act like migration is a bad thing. Or new. It’s neither. People have been moving from NYC to other places in big numbers since the city was founded. Without international immigration, we’d have net population loss.
The solution for people who want a cheaper place to live is to move somewhere cheaper. It’s not that complicated.
[deleted] t1_j1zwmxr wrote
[deleted]
Brambleshire t1_j1zwryx wrote
You missed or ignored my point. My point is that it's less profitable and that's why only luxury gets built. We have to step in, and use those things called regulation, laws, grass roots organizing, to require affordable housing that's only less profitable. Capitalism peak profitability leads us to all kinds of suboptimal outcomes. Steering it into something more optimal for public good is nothing new or radical.
>I'm not a real estate developer apologist or anything, but in general I trust their ability to make a shit load of money and if they're saying the best way to make money is to build luxury then I believe them.
oh ok, so your a developer simp then.
Brambleshire t1_j1zwty2 wrote
Good point!
mdervin t1_j1zwx3x wrote
And Lobster is more expensive than chicken.
Compare the price of a new 1-bedroom apartment in midtown with a 1 bedroom in Harlem, which one do you think has the bigger profit margin?
Brambleshire t1_j1zx2ov wrote
Your saying it right there. Your saying the inner city should be all luxury and everyone who isn't rich should be pushed out to the outer boroughs and your perfectly ok with that.
9yds t1_j1zyxt7 wrote
“luxury” doesn’t mean anything; its just a marketing term that holds no weight
Bubble_Bowl_MVP t1_j20085p wrote
They're both $4000 bozo
EDIT: The one downtown might be 5k or 6k, but now we're comparing Bentley and Rolls Royce, not Rolls Royce and Ford.
George4Mayor86 t1_j200x04 wrote
“Fuck off we’re full” is literally never the correct response to immigration.
myfirstnamesdanger t1_j2010ph wrote
So in your opinion people can leave where they grew up and relocate to NYC only if they grew up outside of America?
George4Mayor86 t1_j2010se wrote
No we don’t? I think office-to-housing conversions are very promising, though they are more expensive than people tend to think.
senteroa t1_j201q70 wrote
This is a scam and the OP is 🗑️. There are 450,000 empty apartments in NYC, and you clowns are still talking about building new, expensive housing (that will remain empty) as if it's will help anything.
elizabeth-cooper t1_j20235g wrote
Not none, but most.
Myske1 t1_j2027u6 wrote
Immigrants arriving in NYC have used it as a gateway to move on to the rest of the country after days, months, or years for as long as there has been a country.
Not everyone needs to live in NYC, not everyone gets to, not everyone can afford to, and so on. There are probably a billion people around the world who would rather live here than where they live. Should they all be crammed into the city?
mdervin t1_j2028z7 wrote
now why would the same apartment downtown be 20-50% higher than uptown?
Because landlords/developers can charge more money for more desirable neighborhoods.
George4Mayor86 t1_j202a5a wrote
Hoser117 t1_j202d55 wrote
Well we're largely saying similar things then. What I imagine makes this difficult is that we're obviously not operating in a bubble. We're essentially competing with the rest of the state/country where these developers can operate to make money. If developing in NYC goes from "very profitable" to "sort of profitable" then we'll just see less development in general.
It seems like there's a balancing act to play here where it's not enough to just disincentivize luxury only developments but actively improve the profit margins for market-rate & below market-rate development. Whenever I read about the state of things here it usually sounds like what has happened is the city has either intentionally or not put developers in a position where luxury developments are really the only appealing thing to build.
I would think there's a risk that if we also make those less profitable then they're not just gonna do market-rate and below market-rate developments, they'll just slow down development all together.
suspiciouslywooden t1_j202h3k wrote
Won’t you think of the poor landlords if a vacancy tax were implemented.
Saskatchious t1_j202jcq wrote
Bubble_Bowl_MVP t1_j202qxp wrote
Why is an apartment in Harlem 4k/mo? My goal would be for most housing to be under 2k/mo and the average rent in Manhattan is 5k.
Johnnadawearsglasses t1_j2032w2 wrote
We definitely need more housing. In particular by lifting the far cap in areas that are overwhelmingly single family homes. The fact that most of the city is still built at 3 stories is amazing to me.
mdervin t1_j203lyd wrote
An apartment in Harlem is 4K a month because there are a bunch of people who can afford 4K for a Harlem apartment, but they can't afford 6K for a midtown apartment.
Between 2010 & 2020 NYC's population increased by 800,000, between 2010 & 2020 about 80,000 apartments were built.
actualtext t1_j203niu wrote
None of those things you’ve mentioned are issues of concern in NYC. But two things worth pointing out:
- In fact there’s been a huge 50 year project to bring water to the city. See here: https://en.m.wikipedia.org/wiki/New_York_City_Water_Tunnel_No._3 We’re not suffering from a drought.
- Subway ridership is currently at ~60% of 2019 numbers (you’ll have to look up the official numbers but that’s the number I keep reading in headlines as articles). And we’re still improving things. Maybe not as much one would like with extensions to lines, but there are projects like bringing the LIRR to Grand Central which will improve transit options and new Metro North stations going to Penn Station that will get built in the Bronx.
JBMPropertyMgmtLLC t1_j2044mx wrote
When your entire personality is that you live in NYC, I suppose seeing other people live here makes you insecure.
Bubble_Bowl_MVP t1_j204hj7 wrote
The increase was about 600,000, and then we lost almost 400,000 during the pandemic. The population had been around 8M for over 20 years.
EDIT: Actually we hit 8M in the mid 1950s.
actualtext t1_j204hsp wrote
I know that’s the thought process but if other states were able to pass such reforms then I feel like NY can possibly figure out how to get it done as well.
Myske1 t1_j204kjg wrote
We’re not suffering from a drought. We’re suffering from a lack of water mains and pipes in areas of potential expansion. Sewage is a huge problem. The system overflows during storms all the time, and adding more sewage will just make it worse. These are real problems, despite what propagandists from the real estate industry have convinced you to believe.
Myske1 t1_j204opt wrote
Dude, what a bullshit trash statement.
myfirstnamesdanger t1_j2050oe wrote
This is kind of a weird take but I'm curious... Was I allowed to move from a built up, upper middle class coastal city to NYC? My hometown is pretty prosperous without me there.
actualtext t1_j2055on wrote
Do you have a source for that number?
yuriydee t1_j207lyj wrote
Maybe the other parts of country should do more to keep smart people there? Maybe think about why everyone is moving to coastal cities.....
JBMPropertyMgmtLLC t1_j207tl3 wrote
You reek of insecurity. Anyways, I’m a NYC landlord and your attitude increases my profit margin, so thank you for that I guess LOL.
crowbahr t1_j208b5q wrote
Just like each of yours
DJBabyB0kCh0y t1_j209dv6 wrote
It's yet another failure of capitalism. There aren't a lot of incentives out there to entice a developer to put up a highrise full of actually affordable units. Instead we have miles of skyscrapers going up around the city that remain half empty.
[deleted] t1_j209fb6 wrote
senteroa t1_j20ajur wrote
Yes. In 2018 it was 250 thousand, but the number of empty apartments have drastically increased after the pandemic. Corporate landlords, and even many small landlords, are to blame -- and so is the government for being in the pocket of the real estate lobby and doing nothing about this. https://www.6sqft.com/nearly-250000-nyc-rental-apartments-sit-vacant/
Landlords and finance bros can thumbs down posts spitting truth all they like, they're not fooling anybody.
senteroa t1_j20apgh wrote
Nope. And stop slobbering on the knob of corporate landlords, please! 🙏
Wowzlul t1_j20ba1o wrote
I am a local and as a Local I say we don't need more housing.
> As the song says, “This land is my land, this land is (not) your land.” You want to come over here and move in and just rewrite our history? This was our place, our home, our way of life, for millennia. Not millennia, but centuries. Okay, decades. Years. A few years. The point is it’s ours and it’s not yours. Sure, it used to be someone else’s, and probably someone else’s before them, but now it’s mine, so I’m going to plant my flag and dig in. Let me put it bluntly: “CHANGE AND NEW THINGS SCARE ME.”
Independent-Cat-1280 t1_j20c9jw wrote
The irony here is that many incorporated municipalities in NY who vote blue voted against the Zoning measure that was up for adoption last year. Inclusionary Zoning and affordable housing for all... Just not in my neighborhood they say.
Johnnadawearsglasses t1_j20djsv wrote
Not in my backyard in the wild
mdervin t1_j20ewcb wrote
and what happened to rents during the pandemic?
OhGoodOhMan t1_j20gkkf wrote
And how exactly do you propose we go about that?
Bubble_Bowl_MVP t1_j20gw32 wrote
Literally nothing, they're higher than ever.
mdervin t1_j20h6og wrote
because the pandemic is over and those 400,000 moved back into the city and some brought friends.
Bubble_Bowl_MVP t1_j20haft wrote
"the pandemic is over" Lmao
Wowzlul t1_j20i7f2 wrote
Internal migration controls. Maybe give everyone a passport. If you don't appeal to my particular tastes and biases, if I can make prejudiced judgements about you and put you into a box I don't like then you don't get in.
After all, you didn't build this place. I did. Well, people a long time ago did and I'm pretty sure they'd like me instead of you. Oh you did build something here? Well it doesn't count. We can't allow this place to change. It's perfect as is and you don't get to touch it.
I'm a Local and you are not allowed.
donttouchthirdrail t1_j20ij5x wrote
I grew up with my parents and brother in a variety of 2BR apartments in buildings with no parking ranging from 8-14 stories and no one has been able to give me a good answer why that kind of building shouldn't be allowed to be built anywhere in the city.
elizabeth-cooper t1_j20irvv wrote
It wasn't a proposal, I was just musing.
brianvan t1_j20iuu7 wrote
Lol yes Manhattan needs more roads to handle more cars so it can grow. Good thinking 🤣
brianvan t1_j20jjed wrote
Funny you said that. It’s totally possible, at significant expense, to convert an office building to a residential tower that meets all current codes. Might get a few more buildings converted if you loosened regs and offered subsidies/financing. But at the end of the day, 3% of office buildings have been converted because office prices are starkly higher than home prices per square foot, and most landlords prefer to make more money (or hold out for more money while refinancing their mortgages). There’s more of a trend of buildings adapting to different commercial uses rather than making offices into homes.
There was a Times article about it. Today. https://t.co/RPxiSmYE2p (paywall waived)
City and state governments would get way more bang for the buck simply building new housing on available lots. There are literally empty lots all around NYC. But they’re privately owned, not for sale, not being developed (yet), and the state is terrified to use their eminent domain powers. I guess they prefer having a shelter system with tens of thousands of beds instead.
koreamax t1_j20jl1m wrote
It was also significantly more dangerous and unsanitary
koreamax t1_j20jpve wrote
I'm from San Francisco and this is spot on. Fake hyper liberals in the Bay Area are actually as socially conservative as they come
koreamax t1_j20jw4d wrote
Let's see...converting office building at an insane expense to make homes that really don't feel like homes or build apartments that were originally purposed as homes?
Wowzlul t1_j20kaqi wrote
It's really quite contrary to the attitude toward migration and expansion that historically dominated in the city and that's arguably its greatest source of success.
Obviously you can't fit the whole world here, but we're nowhere close to what we could do. For fucks sake most of the city is still zoned for single family homes and we never even finished the goddamn subway.
"We're full" my ass. You just like how you've got things set up for yourself and don't want to risk any disruption. God forbid the world not revolve around you.
(rhetorical "you" there obv)
Myske1 t1_j20lysa wrote
Or maybe it should put the brakes on development. We're the densest most-crowded city in the country -- let people move somewhere else if they can't find a place to stay here. Once some other cities get up to size, then maybe we can grow more.
brianvan t1_j20mgb2 wrote
Yes, let 800,000 people move out so we can equalize demand with supply. Feel free to lead the way!
Oh, that’s not what you meant… who are you thinking should be the ones to move out?
Myske1 t1_j20pbp9 wrote
I can afford where I live. If people can't afford it, they should move to where they can afford to live. It's not rocket science.
brianvan t1_j20puhk wrote
They can’t afford moving and changing jobs. You can. It’s not rocket science 🚀 🚀 🚀
Myske1 t1_j20q53h wrote
There are plenty of places willing to move people to do low skill jobs. The oil and gas industry in the Dakotas for example. Higher skill workers shouldn't have any problem either. The only excuse for not leaving is not wanting to.
jordanmcarson t1_j20qr6m wrote
I keep seeing housing being built but who’s the housing actually for? No one in their right mind believes $2000+ a month is affordable.
DYMAXIONman t1_j20rcet wrote
Luxury is when vinyl flooring and no bed bugs
dust1990 t1_j20rdj2 wrote
It’s not economical to build new developments at this price in NYC.
TheSpaceBetweenUs__ t1_j20rr7p wrote
Politicians across the spectrum did a good job in the last 50 years getting voters to associate cities with black people and crime.
TheSpaceBetweenUs__ t1_j20rzxn wrote
Landlords are on the side of NIMBYs
dust1990 t1_j20s0jw wrote
Immigrants are transplants. Transplants are immigrants.
Dracomarine t1_j20sna5 wrote
Maybe if y'all made an effort to not make the interior a festering shithole, people would stay. Also what happened to the whole freedom thing? Looking forward to the cope reply
Johnnadawearsglasses t1_j20teng wrote
And no one here is on the side of landlords
Nice_Wolverine_1434 t1_j20tvz9 wrote
TheSpaceBetweenUs__ t1_j20updc wrote
No one should be
oledirtycrustard t1_j20werm wrote
- Native Americans, upon the arrival of Christopher Columbus
Wowzlul t1_j20x4is wrote
Good analogy. As we all know trust fund transplants massacre Real New Yorkers in cold blood, send their children to schools of cultural assimilation, and rape their ancestral homeland of its natural resources. The two situations are directly comparable.
/s obviously
oledirtycrustard t1_j20xlpe wrote
sorry you spent all that time writing the dumb jingle
mediocre_at_most t1_j20zp5s wrote
The $2000/mo place in my town has no hot water in winter. So unless you're willing to pay $2500+ you're out of luck.
donttouchthirdrail t1_j20zrnw wrote
And also in the city itself. Looking at you, Forest Hills.
Brambleshire t1_j2104zg wrote
Who cares about poor ppl amiright? they can just go to the outer boroughs. No one but rich people deserve to live in the city. That's the kinda new York I want, all rich people no riff raff. /s
Brambleshire t1_j210ay8 wrote
it's just the free market, nothing we can do about it 🤷🏻♂️
Brambleshire t1_j210mwh wrote
If you think developers won't build in one of the most lucrative markets in the world if it's slightly less profitable then your just either delusional or a developers shill. Ppl like you talk about the free market like it's an act of God that we can't do anything about. it's amazing.
jumbod666 t1_j210ru6 wrote
Every housing regulation drives up costs for building and maintaining. State and local governments have to look at regulations and see which can be removed.
Brambleshire t1_j211122 wrote
Lol everyone who suggests the slightest restraint on the free market for keeping nyc available to a spectrum of incomes instead of rich people only is a nimby nowadays.
sutisuc t1_j21115p wrote
Kinda pathetic to be getting beat by Connecticut and NJ honestly, the ultimate suburban states in the country.
Brambleshire t1_j21167y wrote
It's either for rich people that already live in nice places elsewhere, or it's just to hold an investment.
DJBabyB0kCh0y t1_j211h3t wrote
I'm all for removing regulations that provide no utility besides a straight cash grab.
Automatic-Truth-5004 t1_j215i9r wrote
Now every six figure remote working dickwad is moving to Mexico City cuz that’s the solution
Drive up prices there too… and then brag about it
jordanmcarson t1_j217jcs wrote
NYC shouldn’t just be just for upper middle class or the very wealthy.
dust1990 t1_j21aqtd wrote
What’s your policy solution? The middle to upper middle class has already been pushed out. Rent regulation and affordable housing policies have only served the very rich who already own and the lucky who score a regulated apartment or housing lottery. Both of these policies have been disastrous for the middle. Please don’t advocate for more of the same.
Wowzlul t1_j21bi0o wrote
I wonder if there's anyone in Mexico City urging the government to block all new buildings because somehow that will stop the dickwads from moving in and renting apartments. That'll work.
Automatic-Truth-5004 t1_j21c7ss wrote
Mexican government gives out visas like it’s candy
jordanmcarson t1_j21d4j7 wrote
Here’s a radical idea. Have a cap on how much rent can be charged. Reintroduce rent control, restart the advantage problem that was eliminated by Andrew Cuomo and restart the Section 8 voucher program. Letting the free market dictating rents isn’t working. And obviously isn’t working due to the fact we have a homelessness crisis.
lurkerbobert t1_j21eat1 wrote
NY population has dropped over 400,000 in the last two years. Where are those vacancies?
Sharlach t1_j21eo3j wrote
Did you even read your own link?
>Of the 247,977 empty units, almost 28,000 have been rented or sold but not yet occupied, or are awaiting a sale. Nearly 80,000 are getting renovated, 9,600 have been tied up in court, and 12,700 are vacant because the owner is ill or elderly. Still, that leaves over 100,000 units, and the census finds 74,945 are only occupied temporarily or seasonally, with 27,009 held off the market for unexplained reasons.
People are downvoting because you're an idiot, not because you're "spitting facts." 1/3 of that number alone is units being renovated. This is not why rents are high.
Sharlach t1_j21f4jd wrote
People don't return to the places they're from because they're shitholes. How about those flyover states focus on becoming desirable places to live and raise families instead of banning abortion and trying to bring back jim crow?
senteroa t1_j21h1r1 wrote
You are either a landlord and know why it's bullsh!t to claim those units are being kept empty for good reason (while 90,000 homeless languish in this city), or you're simply a fool. Take your pick.
dust1990 t1_j21hgd9 wrote
Caps basically already exists for half the market with rent regulation, which manipulates the remaining market rate apartments making them more unaffordable than they’d be without regulation. Plus regulation discourages landlords from improving their property worsening the condition of the regulated apartments for tenants.
Rent control was worse than the current rent regulation. It similarly doesn’t target subsidies for those on need just those lucky enough to sign the right lease. It’s worse because it allows tenants to pass along their lottery ticket to heirs who may not need a subsidy. Same problem for improving the properties as regulation.
Admittedly don’t know much about the Advantage program.
NYCHA administers the largest Section 8 program in the country. What do you mean restart it?
The NYC market is the most regulated market in the country. It’s not a free market. Half of rentals are under rent regulation which distorts the whole market and discourages owners making improvements.
We agree the current environment isn’t working. But it’s not from lack of regulation. It’s from too onerous regulation and zoning restrictions making it too difficult and too expensive to build. We need to build, build, build market rate apartments. This will increase supply putting downward pressure on prices including existing units. The only efficient way to fix the problem of lack of supply is to increase supply by building new units.
Sharlach t1_j21hgq8 wrote
How is it bullshit to read the link you provided and highlight crucial information? I promise you I am not a landlord, but it is pretty obvious you're some baby brained kid repeating talking points they heard somewhere else. We're not going to fix this shit if people can't even acknowledge reality. I'm sorry dude, but rents are not high because of apartments sitting empty.
actualtext t1_j21qdi1 wrote
Rent prices will never go down with that approach. You’re basically suggesting we freeze development of new housing. That’s horrible.
Myske1 t1_j21r72b wrote
False. Prices depend on both supply and demand. The real estate developers want to make money and have convinced everybody that their supply-side approach is the right one. Reducing demand would do it just as well, and that would involve population loss. People moving away or dying faster than they arrive or are born.
It's happened before. The population dropped like crazy when people started moving to the burbs in big numbers in the 60s and 70s. Rents dropped. Sale prices dropped. People were picking up whole brownstones for almost nothing.
12stTales t1_j21rebd wrote
A highrise of affordable units is literally illegal to build in almost all of NY state so I dont think "capitalism" is to blame.
Wowzlul t1_j222iea wrote
> musing
bigoted ranting more like
mdervin t1_j22ggwr wrote
Zoning is not the free market.
beepoppab t1_j22i8tz wrote
Classic "fuck you, I got mine" mentality.
You're a funny little troll. Keep it up!
beepoppab t1_j22j133 wrote
"The farmers want to make money and have convinced everybody that growing more food will bring down the price of food. Instead, some folks just need to stop eating so we can reduce demand."
Can I buy some crack from you?
ooouroboros t1_j22zi5l wrote
The city needs to discourage people buying residential apartments as investments without living here.
Building new housing will not solve the housing problem if investors can just grab up all the units as investments.
If that means huge tax penalties or a whole new sector of building inspectors I don't know but things won't get better unless that happens (or unless the housing market crashes).
NY08 t1_j230p21 wrote
No one? I do.
Not everyone makes the amount of money you do. Affordable is relative.
A small apartment complex with only $2000/month units would fuckin lease out in 2 days.
NY08 t1_j230tof wrote
Rule 1. Keep it civil
SirMonkey687 t1_j23c4fh wrote
Genuinely curious - what are you specifically referring to here?
kiklion t1_j23ke27 wrote
But all regulations provide utility in some way.
It’s trivial to contrive a valid reason for some regulation. It has to be a cost-benefit analysis of if the regulation is worth the negative impact on housing.
kapuasuite t1_j23pbru wrote
Sounds like a dumb idea, thanks for sharing!
Myske1 t1_j23pihf wrote
👆 this comment brought to you by a real estate industry shill who wants to build baby build so his boss can can even richer at the expense of local neighborhoods.
12stTales t1_j23txmi wrote
Zoning in suburbs and towns often restricts building size to single family detached houses. Even in NYC there are some areas like this. Whats left has other zoning restrictions that limit size, bulk, etc and deter housing production
kapuasuite t1_j23wpl2 wrote
Building new homes, businesses, and infrastructure to accommodate more people is a good thing. If having to look at new people and new things upsets you, that’s entirely on you.
Myske1 t1_j23yr56 wrote
You're projecting a lot onto me. Not surprising for a real estate shill.
MarbleFox_ t1_j241t46 wrote
> not transplants.
My guy, what the fuck do you think immigration is?
mdervin t1_j2462qz wrote
Right and the best way to care about poor people is to create a housing shortage where middle class people are forced to move to the poor neighborhoods driving up their rents.
Varianz t1_j248jlt wrote
Everything I don't like is inflation luxury housing and the more I don't like it the more inflation luxury housing it is.
MisterFatt t1_j24azyh wrote
Probably someone who sits in traffic for hours everyday while they drive back and forth across the city instead of using public transit
MisterFatt t1_j24bex3 wrote
What a stunningly stupid post
Brambleshire t1_j259d0o wrote
Or we could just build affordable housing instead of all luxury, and we could require a unit for anyone displaced by redevelopment.
mdervin t1_j25eb76 wrote
You mean like the projects?
MarbleFox_ t1_j25ik9n wrote
Not everyone needs to live in NYC, but the city should have the infrastructure to accommodate everyone that wants to.
Myske1 t1_j25j3cd wrote
There are like a billion people around the world who would rather live in NYC than where they live. We’re not building for all of them. Even if you’re a real estate developer shill, you have to acknowledge there is some sort of upper limit. The only thing we’re actually arguing about is what that limit is.
Brambleshire t1_j25mulm wrote
Ya dude. I want everyone to live in projects. Status quo neglected public housing all the way, how did you know??
MarbleFox_ t1_j263ksv wrote
> There are like a billion people around the world who would rather live in NYC than where they live.
No there aren’t.
mdervin t1_j27aexa wrote
You aren’t proposing anything else.
volkommm t1_j28sjzi wrote
Both of those are undeniable statistical facts lol. Independently there isn't even a question. Causation or correlation is a different statement.
Brambleshire t1_j2a2c2o wrote
in every thread where this topic is brought up, and in grass roots organizing, I am advocating for affordability and protection from displacement.
mdervin t1_j2a7vt5 wrote
and how do you build affordable housing?
beer_nyc t1_j2ajcsu wrote
> None of those things you’ve mentioned are issues of concern in NYC.
they're huge concerns in the suburbs of nyc
ByronicAsian t1_j2byjuk wrote
> Internal migration controls.
That's basically the Chinese hukou system....which had some serious issues even before the recent reversal of reforms.
Wowzlul t1_j2c1cjd wrote
I know I'm trying to demonstrate how absurd and totalitarian an idea it is to limit people moving to the city from inside the US.
nychuman t1_j2c1iv7 wrote
Dude some $3,000+ studios are still being thrown into bidding wars.
Source: I got outbid 2 weeks ago by $500/mo.
--A3-- t1_j2c2gpt wrote
But why are these restrictions so widespread and fought for so strongly? It's because people who already own houses have a financial incentive to restrict the creation of new houses. If the supply of housing stays the same but demand increases, the value of what they own skyrockets.
The monetary incentive which leads to NIMBY zoning policies arises from the fact that housing is a commodity.
NY08 t1_j2cg9tl wrote
So you agree. 2k is definitely affordable. You’re not getting 2k IN MANHATTAN unless you’re in a shitty studio Harlem and up or LES
nychuman t1_j2dfd9h wrote
Yes agreed.
[deleted] t1_j2e6ywm wrote
On related news: JPMorgan is about to spend $1 billion on hundreds of rental homes across the US on the way to becoming a megalandlord
https://www.businessinsider.com/jp-morgan-to-acquire-1-billion-of-single-family-rentals-2022-11
King-of-New-York OP t1_j1yl5ia wrote
“Housing in New York has become so unaffordable that it is impossible to ignore. Rents in already famously expensive New York City have reached mind-bending new records, and the vacancy rate for inexpensive homes is almost zero. But the crisis doesn’t end at city limits; the lack of housing in New York’s major suburbs is also a major contributor to soaring rents in the nation’s largest metropolitan area. NYU’s Furman Center found that “New York’s suburbs are failing to build any significant amount of housing,” as Long Island permitted barely 3,000 new homes per year over the last two decades, while Westchester and the Hudson Valley permitted under 5,000 new homes per year.”