Wednesday Links
Sneakers and Bars. Photo by justiNYC Still Nine-Tenths of the Law [NY Times] Keeping Delinquencies at Bay [NY Times] AY Shapes Politics in Brooklyn [NY Times] Absent Landlords Off Tax Hook [NY Daily News] High Price of Housing Costs [NY Daily News] Fed Treading on Thin Ice [CEPR] Flophouse Riles PLG [Curbed]
Sneakers and Bars. Photo by justiNYC
Still Nine-Tenths of the Law [NY Times]
Keeping Delinquencies at Bay [NY Times]
AY Shapes Politics in Brooklyn [NY Times]
Absent Landlords Off Tax Hook [NY Daily News]
High Price of Housing Costs [NY Daily News]
Fed Treading on Thin Ice [CEPR]
Flophouse Riles PLG [Curbed]
I agree. She really sounds like a sourpuss.
There are lots of places in the 5 buroughs to get a one bedroom for less than 200k. You just have to be willing to live in a less desirable area.
Sounds like a real whiner, if you ask me!
cobblestoner at 10:22 AM,
Read the link, save and wait.
http://www.youdovoodoo.com/80sbubble.htm
How about that Daily News op-ed, huh?
It’s expensive to buy in NYC? Wow, what groundbreaking insight. And I like the fact that the author doesn’t mention what the City and State are already doing to combat this problem (ie affordable housing, etc), or, and this is the kicker, what she thinks they should be doing.
Aside from saying that it’s expensive to live here, and that this fact may have negative consequences on NYC, there’s no there there in that piece.
This has always been a renter city but in more recent years seeing more home ownership with condos,etc.
What will help are the increase in number of units being built (see article on # of permits).
The Daily News piece definitely raises an important point. How the heck are those who are young and graduating from college now going to afford housing? Are we truly expected to rent for the rest of our lives? At this point, the only way I’ll be able to afford a brownstone is to either move to Jersey or pray I get access to Wall Street bonuses. Even condos and co-ops are slowing getting out of reach.
Is there even a solution to this problem? I can only hope that the rising interest rates will slow the housing market enough that prices will stabilize or even decrease so I can catch up in the next 5 or 8 years. However, this being New York and constantly attracting those with money, I have a feeling this won’t be so. A broker joked to me that an uptick in crime is the only way the market will cool. Most of my friends who are in their late 30’s and early 40’s rent. I only hope that I won’t turn into them, but I really don’t see an alternative.