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City Watch: Progressive Running for Lieutenant Gov. Goes Big on Housing

3 Comments

  • nyc taxpayer
    Posted April 6, 2022 at 3:37 pm

    ‘Social Housing’ = NYCHA 2.0, another endless drain on NYC taxpayers money. Go away.

    ‘Households would pay 30 percent of their income toward rent, meaning wealthier tenants would subsidize the rents of lower-income neighbors. That concept, known as social housing, is prevalent elsewhere in the world. In Vienna, Austria, about 60 percent of the population lives in social housing. In Singapore, 80 percent of residents live in government-built apartments.’

    Do you think any wealthier tenants would be stupid enough to move somewhere where they will be subsidizing other tenants? Only a sucker would sign up for a sh*t deal like that.

  • Scott Baker
    Posted April 7, 2022 at 2:47 am

    I wish it was clearer how high the subsidized rents have to be to pay for the lower income households, or, conversely, how low the contribution from the low income households can be before the building revenues are insufficient to maintain the building.
    Someone making 12,000/month is on the high end of middle class and would be paying $3,600/month in rent under a 30% plan. For $3,600/month, they could afford a lot of other options: other places to rent, or, if they have the kind of savings that come with that salary level over time, maybe they just buy a condo or co-op and save on maintenance vs. rent that goes with ownership typical in NYC.
    Conversely, someone making just $1200/month would be paying $360/month, barely enough to cover even a small fraction of upkeep. It might require 2-4 “normal” renters to cover that person’s unit.
    I’m not saying Social Housing can’t work, but both the low end and high end need to be defined and understood better.

    • nyc taxpayer
      Posted April 9, 2022 at 9:00 am

      The whole ‘social housing’ model is not realistic because such housing by it’s nature does not appeal to people in the $12k/month demographic for the reasons you state. Higher income people do not want to risk their safety and quality of life by living in the same building as low income people.

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