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| Re: How the LIRR and Nassau PD Conspire Against Commuters (552202) | |||
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Re: How the LIRR and Nassau PD Conspire Against Commuters |
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Posted by Russ on Fri Jan 11 21:25:34 2008, in response to Re: How the LIRR and Nassau PD Conspire Against Commuters, posted by RonInBayside on Fri Jan 11 21:15:13 2008. New York has had disastrous results with a regulated housing market. First of all, outside of Manhattan, rent stabilized apartments are usually near market rates. In Manhattan, there is a huge disparity between regulated and market rate apartments. But it protects the poor, right? Wrong. Those apartments are rarely occupied by economically disadvantaged people. We're protecting people who don't need protection.But it gets better. The barrier of entry for real estate development, and ownership, is do high in this city that national firms are reluctant to enter the market place. We're left with real estate families who develop the institutional knowledge to navigate the byzantine government bureaucracy, and learn to deal with grossly inflated operational costs, to develop in a highly kinked market. What does that mean? Much slower construction of housing, and that translates in to higher rents. What do people do in this inflated housing market when they want to buy a home in the city limits? They buy a brownstone in Bed-Stuy and crowd out the working class. There is no successful mixed model for housing in the industrialized world that involves more than basis points worth of housing stock. Not one. |
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