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Understated in these discussions is the role of landlords. In Ithaca, NY, where I live, people's proportion of income going towards housing by some counts surpa
by rm_-rf_slash 11y ago
Understated in these discussions is the role of landlords. In Ithaca, NY, where I live, people's proportion of income going towards housing by some counts surpasses Manhattan and San Francisco. Yes, it's a college town with students already accepting the huge cost of tuition and throwing rent on the debt pile. Yes, the city is hemmed in by a lake to the north and hills to the rest. But there are like three landlords in the entire city. One in particular, Jason Fane, is notorious for jacking up prices on his Ithaca properties as collateral for his investments in China. Meanwhile, Collegetown is becoming increasingly split between obnoxiously priced condos and old houses that look more depressingly decrepit with each passing year.
- WillyF 11y agoMy 9 roommates and I paid $60k a year for one of those decrepit old houses--and this was 10 years ago. At $500 per month each, it didn't seem that bad, but we really got ripped off. The density of college living (for instance I had to walk through a roommates room to get to mine) allows landlords in Ithaca to get a level of rent that they'd never get from families or older individuals.
- Labyrinth 11y agoI too live in a college town and have felt the same impact of landlords charging insane rates. Right now I am currently living in one where if say some part of the property is damaged or needs replacing all tenants will pay. Even though I don't use it or it is not my fault, the landlord divides the repair bill among all tenets as a "overage fee". So a laundry machine breaks, not your fault but you'll pay regardless.