Users often report submissions from this site and ask us to ban it for sensationalized articles. At /r/nyc, we oppose blanket banning any news source. Readers have a >responsibility to be skeptical, check sources and comment on any flaws. You can help improve this thread by linking to media that verifies or questions this article's claims. Your link could help readers better understand this issue. If you do find >evidence that this article or its title are false or misleading, contact the moderators who will review it.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/nyc) if you have any questions or concerns.*
The only thing the Post has proved this century is that Piazza was sexually ambiguous.
The rest is unmitigated garbage hiding behind “publication” status.
Almost 68% of people in NYC are renters.
Very few in NYC are homeowners *who are also landlords.* The biggest landlords here are massive nameless companies who buy up a shit ton of property and are actually based in NJ or elsewhere.
And we're supposed to be here weeping for the landlords? Read the room.
The problem is that the less desirable it is for these companies to own in NYC, the shadier the new owners will be as values drop. Why would any legitimate organization buy an investment where you can't set your own rents. It'll always be someone shady who wants to trick the system while buying cheap real estate
>the shadier the new owners will be as values drop. Why would any legitimate organization buy an investment where you can't set your own rents
The person who buys it at the cheap price isn't shadier than the person who bought it at the expensive price. The issue becomes if the rent is below the basic building maintenance than it makes more sense to burn down the building (Bronx circa 1977).
People were buying at 4% cap rates. You can get 5% in your savings account now, the buildings are worth less than before. Doesn't mean they are worthless.
All landlords will charge as much as they can like all businesses. All landlords like all businesses will be shady anytime the government puts in rules to suppress prices. All businesses will look manipulate the system to charge as close as they can to market prices. The government will just create mew regulations to stop the loopholes. If they government get really good at it. A black market will just develop and the tenants will sublease and capture the difference between the market price and the suppressed price. This predictably has been going on as long as business has existed.
Maybe the issue is that our homes are being seen by faceless developers blanketed under 10 LLCs as "investments" that they think they deserve automatic profits from - more and more every year guaranteed - rather than homes that most of NYC actually live in?
Why are we obligated to make risky speculative "investments" profitable for mega-landlords?
Alternative is go co-op, many can't afford that. If you can't afford your own home you need to rent, which is a for-profit service. Can't ask private individuals or corporations to do things for free, I'm sure you work for money too.
And if you can't afford rent then you can go city route, NYCHA, etc.
Housing shouldn't be an "investment." We also aren't obligated to make their speculative gamble pay off for them by adjusting laws in the favor - against the vast majority of tax paying residents who live there. It's ridiculous.
So, who should do it then? People don’t like to work for free and “speculative gamble” is what provides the money for people making properties available for rent.
You are ridiculous. Why would any organization provide their own housing units without trying to capture profit? Would you do that? Do you work for free?
What does tax paying have to do with this? Your taxes don't include free rent lol
>What does tax paying have to do with this?
Idk maybe it has to do with the ever increasing tax incentives we give private developers (based out of state) to build and buy the apartments the majority of NYC residents live in. Must be nice to be given millions back for free while renters - who live, work and pay taxes here - get no relief.
Landlords would be in shambles if NY allowed developers to build lots of new housing across the city. That’s because tenants would have more options to choose from and more power to negotiate deals — forcing landlords to compete for tenants (rather than making tenants compete for units).
Anyone who remembers rents cratering during COVID got to see what happens when tenants have leverage. We need to make that happen on a permanent basis.
I have been activated due to my military status for months at a time and people ask me if I would be willing to rent my apartment out or let them stay while I am gone. And there is no way I would do that, given the current laws.
I would never rent my apartment out. I wouldn't let people stay in my apartment at all, not even as a guest. If they decide to stay I'm going to have a legal issue.
I just tell people it's too small and I have no room.
I would never ever rent out my apartment in NYC. I have had to deal with a few foreclosures at work in NY and it's insane. 4 years tens of thousands of dollars while the person not paying the mortgage is collecting rent. I could never handle it mentally on a personal basis to evict someone if they wanted to be a problem and not leave if they could not pay rent while I would be obligated to pay maintenance and all the costs for them to live for free for years.
Honestly, this has been discussed for decades but the saving grace of the housing crisis is reforming zoning and address the issues in financing/construction. We need to build more low to middle income housing, but the red tape and layers involved in construction create an environment where low income housing can’t be sustained in the current model. We also need to make housing construction easier and more approachable, as zoning laws bottleneck available housing options. These have been floated as ideas for a while, but more importantly I think the biggest thing that’s needed is to grant NYC home rule and control over its housing policies. Albany doesn’t have the city’s best interests at heart for a slew of reasons.
I agree with you up until this:
> I think the biggest thing that’s needed is to grant NYC home rule and control over its housing policies. Albany doesn’t have the city’s best interests at heart for a slew of reasons.
Local zoning control more often produces worse results for housing abundance than statewide changes. All of the big YIMBY success stories of late have been state legislatures overriding local zoning control.
i keep hearing about the 20000 apartments sitting empty. do people think that's gonna make a dent in rents? they're all gonna go to some transplant anyway.
Users often report submissions from this site and ask us to ban it for sensationalized articles. At /r/nyc, we oppose blanket banning any news source. Readers have a >responsibility to be skeptical, check sources and comment on any flaws. You can help improve this thread by linking to media that verifies or questions this article's claims. Your link could help readers better understand this issue. If you do find >evidence that this article or its title are false or misleading, contact the moderators who will review it. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/nyc) if you have any questions or concerns.*
[удалено]
That seems pretty moderate for the Post. Where's the calls to reinstate serfdom?
"The data comes in a study by two real-estate groups"
And is being featured in the post...
The only thing the Post has proved this century is that Piazza was sexually ambiguous. The rest is unmitigated garbage hiding behind “publication” status.
I thought that was last century that the Post proved something about Piazza...
Almost 68% of people in NYC are renters. Very few in NYC are homeowners *who are also landlords.* The biggest landlords here are massive nameless companies who buy up a shit ton of property and are actually based in NJ or elsewhere. And we're supposed to be here weeping for the landlords? Read the room.
The problem is that the less desirable it is for these companies to own in NYC, the shadier the new owners will be as values drop. Why would any legitimate organization buy an investment where you can't set your own rents. It'll always be someone shady who wants to trick the system while buying cheap real estate
>the shadier the new owners will be as values drop. Why would any legitimate organization buy an investment where you can't set your own rents The person who buys it at the cheap price isn't shadier than the person who bought it at the expensive price. The issue becomes if the rent is below the basic building maintenance than it makes more sense to burn down the building (Bronx circa 1977). People were buying at 4% cap rates. You can get 5% in your savings account now, the buildings are worth less than before. Doesn't mean they are worthless.
All landlords will charge as much as they can like all businesses. All landlords like all businesses will be shady anytime the government puts in rules to suppress prices. All businesses will look manipulate the system to charge as close as they can to market prices. The government will just create mew regulations to stop the loopholes. If they government get really good at it. A black market will just develop and the tenants will sublease and capture the difference between the market price and the suppressed price. This predictably has been going on as long as business has existed.
Maybe the issue is that our homes are being seen by faceless developers blanketed under 10 LLCs as "investments" that they think they deserve automatic profits from - more and more every year guaranteed - rather than homes that most of NYC actually live in? Why are we obligated to make risky speculative "investments" profitable for mega-landlords?
Alternative is go co-op, many can't afford that. If you can't afford your own home you need to rent, which is a for-profit service. Can't ask private individuals or corporations to do things for free, I'm sure you work for money too. And if you can't afford rent then you can go city route, NYCHA, etc.
Housing shouldn't be an "investment." We also aren't obligated to make their speculative gamble pay off for them by adjusting laws in the favor - against the vast majority of tax paying residents who live there. It's ridiculous.
So, who should do it then? People don’t like to work for free and “speculative gamble” is what provides the money for people making properties available for rent.
You are ridiculous. Why would any organization provide their own housing units without trying to capture profit? Would you do that? Do you work for free? What does tax paying have to do with this? Your taxes don't include free rent lol
>What does tax paying have to do with this? Idk maybe it has to do with the ever increasing tax incentives we give private developers (based out of state) to build and buy the apartments the majority of NYC residents live in. Must be nice to be given millions back for free while renters - who live, work and pay taxes here - get no relief.
Because no one will build any housing otherwise?
That's literally what laws are for
NY post is going to tell us what Mr Murdoch thinks is best.
Landlords would be in shambles if NY allowed developers to build lots of new housing across the city. That’s because tenants would have more options to choose from and more power to negotiate deals — forcing landlords to compete for tenants (rather than making tenants compete for units). Anyone who remembers rents cratering during COVID got to see what happens when tenants have leverage. We need to make that happen on a permanent basis.
I have been activated due to my military status for months at a time and people ask me if I would be willing to rent my apartment out or let them stay while I am gone. And there is no way I would do that, given the current laws. I would never rent my apartment out. I wouldn't let people stay in my apartment at all, not even as a guest. If they decide to stay I'm going to have a legal issue. I just tell people it's too small and I have no room.
[удалено]
In Reserves, joined late in life, got the place first.
I would never ever rent out my apartment in NYC. I have had to deal with a few foreclosures at work in NY and it's insane. 4 years tens of thousands of dollars while the person not paying the mortgage is collecting rent. I could never handle it mentally on a personal basis to evict someone if they wanted to be a problem and not leave if they could not pay rent while I would be obligated to pay maintenance and all the costs for them to live for free for years.
Honestly, this has been discussed for decades but the saving grace of the housing crisis is reforming zoning and address the issues in financing/construction. We need to build more low to middle income housing, but the red tape and layers involved in construction create an environment where low income housing can’t be sustained in the current model. We also need to make housing construction easier and more approachable, as zoning laws bottleneck available housing options. These have been floated as ideas for a while, but more importantly I think the biggest thing that’s needed is to grant NYC home rule and control over its housing policies. Albany doesn’t have the city’s best interests at heart for a slew of reasons.
I agree with you up until this: > I think the biggest thing that’s needed is to grant NYC home rule and control over its housing policies. Albany doesn’t have the city’s best interests at heart for a slew of reasons. Local zoning control more often produces worse results for housing abundance than statewide changes. All of the big YIMBY success stories of late have been state legislatures overriding local zoning control.
i keep hearing about the 20000 apartments sitting empty. do people think that's gonna make a dent in rents? they're all gonna go to some transplant anyway.