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A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

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Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#251

Post by wolverine876 »

bosie wrote: post #234
pas wrote: post #204

Earlier quoted context omitted.

people are extremely bad at coordinating/advocating for their interests, ie. to get more housing built. it's learned helplessness, and crazy memes (like conservation of neighborhood character)

Denser housing only helps so much though. You need to increase street capacity, increase public transport, more doctors in the area etc. And yes, neighnorhood character is real.

More services will be sorted out by the market, because there is more demand. You're assuming street and public transit capacity is already maxed out; but if it is, yes you need more (of one or the other or both).

Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#252

Post by PH95VuimJjqBqy »

bosie wrote: post #229
PH95VuimJjqBqy wrote: post #222

Earlier quoted context omitted.

that's true in theory, but not practice. It assumes housing availability is a constant across the US As I mentioned, I know a woman who is buying more house than that and her income is technically below the poverty line. In addition, I work remote in tech and looking up the average salary in NYC, I'm making more and it's not close. Not everyone can do that and I understand that, but my point is that people around her…

House ownership statements are always with a location in mind. I want to walk or take public transport for 15-20 minutes to have most medical docs around, multiple different cuisines, park etc. What i do not care is a 2 car garage. That already implies a lifestyle i really do not want. So where wpuld i move to in the US?

here?

if you don't want a 2 car garage then fine, move downtown.

You can get _anywhere_ in this town in 20 minutes or less. We flat don't have the traffic that places like NYC does. rush hour might be a bit slower depending on where you go, but not appreciably slow.

I feel like people who don't live in these areas have a lot of misconceptions.

Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#253

Post by polygamous_bat »

bsdpufferfish wrote: post #96
polygamous_bat wrote: post #43

Earlier quoted context omitted.

Market determines rent the same way market determines the cost of health insurance: people need a place to live the same way they need a doctor when they’re sick. If all the landlords are using collusion software to raise rent in tandem [0] what is your alternative, live in the streets until they give in? [0] https://www.propublica.org/article/yieldstar-rent-increase-r...

> If all the landlords are using collusion The market for housing in a metropolitan area cannot be organized. Everyone is a landlord. If rent spikes to 100k a year, I'm going to throw away shit so I can rent my 2nd bedroom for 50k, and the cycle continues down.

Why would you rent for 50K if you can rent for 100K? Are you an economically irrational actor?

Same applies for landlord who could either undercut the competition or join the “app” (aka collusion ring) to make higher profit.

Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#254

Post by wolverine876 »

PH95VuimJjqBqy wrote: post #239
whycome wrote: post #210

Earlier quoted context omitted.

> my neighbor is a police officer What's the implication here? That you're extra safe? Or that it's a neighborhood that they would also choose?

both, the park regularly has kids playing in it from the neighborhood. Kids run up and down the streets not worrying about violence, etc.

Is the area dangerous enough that they would not be safe without the police officer neighbor? What if the officer isn't home or is sleeping?

Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#255

Post by polygamous_bat »

scld wrote: post #58
polygamous_bat wrote: post #43

Earlier quoted context omitted.

Market determines rent the same way market determines the cost of health insurance: people need a place to live the same way they need a doctor when they’re sick. If all the landlords are using collusion software to raise rent in tandem [0] what is your alternative, live in the streets until they give in? [0] https://www.propublica.org/article/yieldstar-rent-increase-r...

The problem is that the market determines the rent but the government determines that building houses is mostly illegal.

“Government” isn’t a magical boogeyman coming out of a magical swamp to make magical laws. It’s literally NIMBYs, which are largely current property holders which are also in large part landlords. They’re playing the game to the full extent, and it’s high time they are contested in the same game.

Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#256

Post by Solvency »

whynotminot wrote: post #28
werber wrote: post #6

I thought this seemed fair till i read it was in flushing. Nyc is the worst, but, if you’re American where else can you get a city that international and walkable

San Francisco. International and walkable, good transport. The homeless are a problem, but New York has them too.

SF homeless isn't even REMOTELY comparable to NYC, and I've lived in both cities for 8 years each. Not even the same planet.

Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#257

Post by michaelmrose »

Ntrails wrote: post #171
jgr0007 wrote: post #166

Earlier quoted context omitted.

Thanks for posting this view: I had read the "Land Value Tax"-side of the argument before (and somewhat agree with it), but I hadn't seen someone post good reasons _not_ to support LVT. I think your reply - and your other replies - are pretty good reasons

My view is to simply allow property taxes to be deferred until sale or death. Alternatives exist (eg taxable value set by what you paid not marked to market)

Income tax is inherently progressive and doesn't hit Grandma who lives on modest retirement and social security.

Having one reducing reliance on property taxes

Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#258

Post by PH95VuimJjqBqy »

notyourwork wrote: post #243
PH95VuimJjqBqy wrote: post #175

When I see people complaining about never being able to purchase a house my response is always the same. move. $1,100 is considered "well below market rates" for a 1 bedroom apartment in NYC? That's _nuts_ to me. I'm paying $1,600 for a 3 bed, 2 bath 1800 sq ft house with a 2 car garage. Vaulted ceilings, my neighbor is a police officer and I'm on a corner lot across from a park. fire department is literally 3 blocks…

This is just naively and ignorantly ignoring supply and demand. If everyone moved to your LCOL area costs will rise. If ever leaves the city (HCOL), city living will decrease in cost. Not sure how your proposed solution works while also defying basic economics.

stop making excuses, an individual can make an individual decision or they can bitch about their situation but refuse to explore their alternatives.

"oh, but market forces so I'm just going to stay here and continue posting online about how horrible it is that I'll never be able to afford a house!".

You do you I guess.

Re: A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

#260

Post by mistercheph »

rootusrootus wrote: post #226
conductr wrote: post #97

Earlier quoted context omitted.

I'm in Texas, a state with pretty high property tax. We've also seen a ton of appreciation in recent years. Booming economy, transplants from other states, then the COVID factor. We also have a near free market on rent; I've been a landlord and not aware of any limitations. There are a couple limits on property taxes (namely a cap of 10% increase per year on "homesteads", and an Agriculture exemption for rural proper…

10% is brutal. It should take a lot of effort to increase taxes by more than inflation. 10% year over year means something is broken. I’m glad we cap ours at 3%. And our community hasn’t collapsed for lack of property tax revenue yet. And we are a progressive state, while Texas is conservative. Would have thought it would work out the other way around but I guess not.

Compare income tax rates! The coffers must be filled somehow!
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