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Right. Because NYC is a magical fairytale-land of affordable rents. Construction does not fix the fact that tourists pay 5-10x what local residents do for the
by timr 8y ago
Right. Because NYC is a magical fairytale-land of affordable rents.
Construction does not fix the fact that tourists pay 5-10x what local residents do for the same real estate. If you want to keep that from affecting rents, there's a very effective and inexpensive way to do it: don't let people turn rentals into hotels. Just like New York.
- Alex3917 8y ago> Because NYC is a magical fairytale-land of affordable rents. I mean if you're willing to take the subway to work, you can get a pretty large 2BR for less than $2K / mo. Yes you need a job to be able to afford that, but not a particularly amazing job. Just not unemployed for the entire year every year.
- timr 8y agoI agree that good transit is the key to affordable housing. Those kinds of apartments aren't located in dense neighborhoods: they're in the Bronx, Queens and Brooklyn. Places are well-connected to Manhattan by transit. Places that would be impractical otherwise. https://streeteasy.com/for-rent/nyc/price:-2000%7Cbeds:2?view=map#pos=12/40.83680,-73.93661 https://streeteasy.com/for-rent/nyc/price:-2000%7Cbeds:2?vie...