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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

#291

Post by PH95VuimJjqBqy »

wolverine876 wrote: post #221
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…

> When I see people complaining about never being able to purchase a house my response is always the same. move. People generally care where they live more than they care about the things you describe. Location is the most important factor for most people in real estate purchases - so much so, that it's a cliche. You are free to have your own preferences, and I'm glad it has worked out well for you. But let's not be…

then they should stop complaining about the result of their choices.

what I'm incredulous about is the constant complaints followed by an obvious solution but no action towards it.

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

#292

Post by no_wizard »

stale2002 wrote: post #272
conductr wrote: post #162

Earlier quoted context omitted.

It's fine to be an investment. It can climb in value. But it doesn't need to be such a need to force the liquidity. Your example of "under utilized asset" and downsizing must then translate down to some metric of square-footage per resident. How exactly to you propose to regulate the housing market with this in mind, in a reasonable manner. Because, to me I think of the 2 sides. Growing households and shrinking ones.…

> It's fine to be an investment. It can climb in value. No, housing is a cost, not an productive investment. What we actually want, as a society, is for housing prices to go down so people can live places.

I don’t know that it’s possible to intrinsically make real estate non appreciable per se, but you can shift it to be more commodity like and stop treating it special and pass regulations that encourage selling and discourages holding, which as a land value tax, would be a good start. Removing the mortgage interest deduction would be another

Removal of sub class zoning for housing would also be beneficial. Its one thing to zone an area for industrial vs housing but it should not be permitted that when land is zoned for housing they can zone specifically for single occupancy homes for example.

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

#293

Post by [deleted] »

BugsJustFindMe wrote: post #207
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…

There's a reason why low cost of living areas are low cost of living, and it's not because they're self-sustaining futuristic arcologies. It's because people who can afford otherwise generally don't want to live there. I want to walk, not drive, out my front door, and be within 15 minutes, on foot, from entertainment and dining and friends and shopping and groceries and pharmacies and salons and cafes. And I want tho…

[deleted]

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

#294

Post by PH95VuimJjqBqy »

BugsJustFindMe wrote: post #207
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…

There's a reason why low cost of living areas are low cost of living, and it's not because they're self-sustaining futuristic arcologies. It's because people who can afford otherwise generally don't want to live there. I want to walk, not drive, out my front door, and be within 15 minutes, on foot, from entertainment and dining and friends and shopping and groceries and pharmacies and salons and cafes. And I want tho…

> I want to walk, not drive, out my front door, and be within 15 minutes, on foot, from entertainment and dining and friends and shopping and groceries and pharmacies and salons and cafes.

I live in a city, you can have all of those things here. In fact, we have an entire stretch down the side of a river that has restaurants and other things down the side of it. The housing in that area is some of the most expensive but still doesn't touch NYC.

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

#295

Post by grfhtsdfvv »

Dries007 wrote: post #100
miki123211 wrote: post #83

Earlier quoted context omitted.

Poland has a system where it's basically impossible to evict anybody if you rent under the standard rules. However, there exists a special type of contract which allows for quick and painless eviction, but where the tenant must provide proof that they have a place to stay at, either a deed to a property they own or a declaration from somebody who is willing to take them in. A lot of landlords insist on this type of c…

> but as far as I'm aware, somebody with no credit history is basically indistinguishable from somebody with "good" history. As it should be. Why would you want to allow someone to be judged for _not_ having been in debt in the past? You can always ask for references if they rented before, that might help somewhat.

That’s like saying “why not hire someone that’s never worked as a software engineer to be your principal?” Why should they be judged for _not_ having a job in the past??

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

#296

Post by rcpt »

michaelmrose wrote: post #257
Ntrails wrote: post #171

Earlier quoted context omitted.

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

Do want California's housing situation? Because that's how you get California's housing situation.

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

#297

Post by PH95VuimJjqBqy »

BugsJustFindMe wrote: post #276
ltbarcly3 wrote: post #266

Earlier quoted context omitted.

> Your “non-essential” is someone else’s “essential”. I don't think this word means what you think it means.

What things are essential? A tent, water fountain, and scavenged scraps will keep someone alive. Is a toilet essential, or could you just use the street like the birds and squirrels do without complaint? Is a bidet essential, or could you scrape your anus with paper until you see spots of blood like many americans do? Is internet access essential or could you just go to the library which is free and open to all? I th…

well, as someone who grew up extremely poor (to the point of living in a tent on the side of the river in HS) I'm here to tell you nothing you mentioned is essential.

I looked up the average salary in NYC out of curiosity and I make well above the average there.

but I live extremely cheaply and part of that is the lessons I learned as a child. I could afford a much bigger house, much nicer cars, more toys. I choose not to.

I know people who will finish paying off a vehicle and turn it in for another one. Not essential.

Just because someone _feels_ as though something is important doesn't mean that it is. The difference between middle class and poor is that poor has to deal with reality, middle class gets to keep the delusion that things like nice cars are essential.

These people are choosing not to move. It's great that they can afford it but maybe they should stop complaining vociferously about how victimized they are for choosing to live in that area.

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

#298

Post by dehrmann »

bradly wrote: post #87
onlyrealcuzzo wrote: post #4

What does one have to do to secure a $1100 a month apartment in NYC? I'm sure everyone else wants it. Get drawn from a rental lottery at random? Offer your first born child? Supplement your rent with sexual favors to the landlord?

It sounds like you need to pay $15K. I would assume you will start to see short-term/hard-money loans for the 15k as we've seen in the bay area for all cash offers on homes.

Which actually sounds like a good deal once you do the math.

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

#299

Post by BugsJustFindMe »

ltbarcly3 wrote: post #268
BugsJustFindMe wrote: post #242

Earlier quoted context omitted.

> The problem is that people who can't afford that think it is a hate crime if they can't afford to live in Brooklyn with the rest of the hipsters. City planning is hard, but it's absolutely the case that cities just do it very stupidly and poorly and myopically and to preserve the wealth of the wealthy at the expense of the everyone else. There are not any good reasons for Cambridge, MA to have a 35 foot maximum hei…

It's literally not a crime, and it's not even an action motivated out of hate. I think it would do you good to work out the difference between things that make you angry and things that are unjust. I agree with you, transportation and planning is intentionally manipulated by wealthy landlords to maintain their high rents. Absolutely. So don't live there? Don't base your self worth on how impressive the resume's of yo…

> It's literally not a crime

You're using a specific definition of "crime" that is different than the one the people you're arguing against are using, and that makes the argument not apt.

Being shameful for causing harm is also what calling something a crime can mean.

See: https://ibb.co/xS3wnhg

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

#300

Post by rcpt »

conductr wrote: post #97
ethanbond wrote: post #59

Earlier quoted context omitted.

Land Value Tax: Make it financially unfeasible to speculate, to withhold units from the market, and to withhold unused land from the market. Let prices freely fluctuate with the market. Increases in rent derived from externalities (i.e. Amazon HQ2 setting up shop nearby or a new subway station) go back into public coffers, while increases in rent derived from landlord actions (i.e. renovations, building bigger, bette…

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…

> I personally think it's awful to see elderly people getting priced out of a house they've owned for decades

Do you actually have numbers on this? It's a huge talking point for the anti tax crowd but as far as I can tell there's no epidemic of house rich boomers being forced out of their homes.

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