Quote:
Originally Posted by chris08876
They need to build some affordable housing, in mass. The rents in the city are absurd. I can get the gripe of the locals, but at the same time, possibly they should push for even more zoning, to make it feasible to construct the mass units needed. So they can either have towers upon towers of affordable housing if the zoning is there or they can sit back and STFU if they are against anything rising.
Folks, meaning the locals or any NINBYS need to understand that if they want developers to allocate affordable units, even beyond any sort of minimums, they need to make it so the developer has better margins, and therefore, greater zoning and essentially freedom for the developer needs to occur.
The Bronx is showing that affordable housing can come in good numbers, but like any other American city, underwhelming in the units.
Would be nice if the 1,725 apartments could be tripled.
|
Rents are high because housing stock is artificially constrained by construction costs (union labor massively inflates the cost of construction), endless red tape, NIMBY mental illness, etc.
NIMBY's don't want affordable housing or market rate housing. They want to wallow in their own psychological filth. Some may call for "affordable housing" as a ploy to stop development, but few want development for any reason.
The further market rate rents fall, the more difficult it will be for companies to build affordable units. NYS is facing a historical tax deficit, something which the affordable housing tax break doesn't help in the least. If NYC wanted to increase taxes and decrease rents, they could make it much easier for large, market rate housing developments to be built. For a myriad of political and selfish reasons, that will not happen.