Quote:
Originally Posted by adav8s28
Regardless of free market, supply and demand dynamics. NYC has an affordability issue. That is why the democratic socialist won the election for Mayor. You could take all of Sliwa's votes and all of Adam's votes and add them to Cuomo's votes and Mumdani still would have won.
I will change my original question. If you could afford to pay $3,700 for a one bedroom apartment with 600 Sq Feet on the upper east side of New York City (Manhattan Burrow), would you submit an application? I would not. I would want more space for $3,700 per month.
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The problem adav8s28 is that Mamdani is too young, uneducated, dogmatic, and arrogant to realize his solution for the problem has already been tried and failed. New York City's had rent control forever and it's been a disaster.
He should take a field trip to Bangkok and see how they do things there. They have multistory, multifamily buildings close to mass transit. A developer can go from groundbreaking to completion of a 30 story condo building in a little over a year. There's a lot of competition among developers and contractors, keeping prices low. The permitting is much easier and the bureaucracy works with developers instead of trying to prevent them from building. The city helps free up land for development. You don't have the mob and unions running up prices hugely.
If New York City did something similar, you'd see a lot of additional housing, close to mass transit in the outer boroughs as well as in new high rises closer in. Instead of paying $3700 a month in rent for a rat trap in Manhattan, you'd have people living in places like Queens or less developed parts of Brooklyn, paying $2500 a month mortgages with decent living space.
Admittedly though, then if you tackle the deficiencies in mass transit, to transport people to where they work, you're faced with the highest infrastructure costs in the world. It costs $4 billion for a one mile extension to the subway system. Well, tackle that like the affordable housing, with free market solutions. Yes Yssup, tackle it like Texas would, not New York.
