Why It’s So Hard to Find an Affordable Apartment in New York
There simply aren’t enough places to live, a crisis decades in the making and one that poses a threat to the city’s continuing recovery.
Another interesting stat from the article...
The city has issued fewer building permits per resident over most of the past decade than Boston, Austin and San Francisco
Pretty shocking that NYC built less (per capita) than even San Francisco...
I thought I found one in March. 1600/mo studio. Applied, approved. Signed lease Then got ghosted. Work that had to be done never got done and they had me waiting for months like an asshole, and this is while I'd already moved my stuff close to the place and got renter's insurance. Oh and two of my brokers working with me quit as well.
I'm pretty sure they decided to jack up the rent and were waiting me out hoping I'd quit and move on so they could.
STAY THE FUCK AWAY FROM HOME CHOICE/HOME BY CHOICE/GOLDIN MANAGEMENT, they're a bunch of SCUMMY SCAMMMING ASS CROOKS.
A recent project in Harlem that could have contained more than 900 new homes was recently withdrawn after the opposition of the local council member. Council members have opposed two other projects — one in Astoria in Queens and another in Throgs Neck in the Bronx — that would add more than 3,000 units of housing, including some 800 that would rent below market rate.
The vetocracy is holding housing hostage. These projects got cancelled because of a coalition of local residents who didn't want the neighborhood changing, and progressive politicians who wanted far more below market rate units. So, we got nothing!
No one is building more housing. The population is still growing.
Basic supply and demand. Want the working class and poor to afford housing? You will have to build more. Building more will decrease property values, this is where you lose the NIMBYs. They will “support” this cause until they realize it will effect their worth on paper. Not even their lifestyle or spending ability, just their asset value.
Bunch a dicks everyone is.
One point in the article that I found interesting...
Bloomberg was known for rezoning the waterfronts creating the highrises we know in Williamsburg/LIC... but most of the zoning changes he made actually reduced potential capacity in other parts of the city.
the Bloomberg administration rezoned nearly one-fifth of the city, according to a 2010 study by the New York University Furman Center for Real Estate and Urban Policy. But nearly 90 percent of the lots analyzed in the study had their capacity reduced or only modestly increased."
I read somewhere that half of the recently built upscale housing in nyc is vacant. If you mostly build expensive housing that never rents/sells, and investors still want to make money, then the conditions will not allow you to build affordable housing. We need laws that tax the shit out of vacant housing, or better yet entirely decommodify housing.
(I can’t read this article because it’s paywalled)
Only two solutions - either build tall or build wide. Building tall is doable but expensive so do what other expensive cites done world wide...keep building outwards towards cheaper areas and improve public transportation at same time to cut commute in half in future.
What I don’t get, is how can the average rent have gone up 50% when the average income has not ?
I think anyone living in a market rate apartment should order their rental history and see if it was previously rent stabilized. If it was previously rent stabilized, try to find out why it no longer is. Landlords have been illegal deregulating for years, counting on renters to not exercise their rights. You’d be surprised how many people are in units that should be rent stabilized but aren’t.
People who see everything as an investment caused this. Some people just want a damned place to live.
We need to redone the entire city for more capacity and do away with lots of the rules that block potential development from moving forward when it comes to rezoning. There’s too much NIMBY.
How is it that cities like Chicago, Houston, and Philly are affordable yet New York is crazy expensive?
We need to loosen up zoning. Forty percent of the buildings in Manhattan could not be built under today's zoning regulations. Also, and no one is saying this enough, the government should take a much larger role in building middle-income housing rather than limiting itself to low-income housing. NYCHA has trouble providing high-quality housing because the average monthly rent is $500. NYC/NYS should be building and operating mid-market property with middle-income apartments (IDK like $2,000 for a one-bedroom?).
NYC doesn't allow cheaper methods of construction such as PEX water lines, un-armored electrical cable, or PVC water pipes. There are legitimate fire control concerns but we should loosen up those standards for free-standing one- to three-family houses, and allow three-family properties to be frame instead of brick. The building code requires all new construction to have hardwired and connected fire alarms so batteries will not be an issue, and one sensor going off will cause all sensors to go off. The government could just take a huge lot of land, and build a bunch of cookie-cutter three-unit buildings in the middle of nowhere and rent them out rather than wait to build giant skyscrapers.
All the mostly young people who would’ve moved to Bay Area for work pre covid now want to go to NYC instead.
It’s relatively much cheaper to rent in SF now and rents are lower than pre pandemic. You can find nice 1 bed apartments in prime areas for $3k or less.
Shortage of existing affordable housing combined with luxury housing being the only thing being actively built.
They throw in a few crumbs of lottery housing for the poor folk to get their luxury building approved to put a bandage on a giant hole.
Anybody that thinks we should have more affordable housing needs to show up to Community Board meetings about Housing. Typically developers or hysterical NIMBYs that shoot down every proposal bother attending.