Comments on: In New York, the rent doesn’t have to be ‘too damn high’ http://blogs.reuters.com/reihan-salam/2013/08/23/in-new-york-the-rent-doesnt-have-to-be-too-damn-high/ Wed, 30 Jul 2014 19:10:25 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: AlkalineState http://blogs.reuters.com/reihan-salam/2013/08/23/in-new-york-the-rent-doesnt-have-to-be-too-damn-high/#comment-662 Wed, 28 Aug 2013 22:25:06 +0000 http://blogs.reuters.com/reihan-salam/?p=362#comment-662 “in the case of Boulder, there is not any low income housing (none!)”

It’s called Longmont. Bus goes there. And in the case of San Francisco, those poor people didn’t die. They moved to Richmond. Suburb is the new inner city. So poor people now get a yard for their dogs. And rich people get to live closer to their work. Think Lodo vs. Aurora. Win-win. Who cares?

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By: COindependent http://blogs.reuters.com/reihan-salam/2013/08/23/in-new-york-the-rent-doesnt-have-to-be-too-damn-high/#comment-661 Wed, 28 Aug 2013 22:17:51 +0000 http://blogs.reuters.com/reihan-salam/?p=362#comment-661 @Alky and the rents in SF have gotten so high, the wealth has displaced blacks out of their historic neighborhoods. At last review, I think the data shows Blacks are currently at 30% of their population in the 1980’s.

Rent control has forced developers to build nothing but high rent buildings–otherwise, the returns are not there. Again, the Board of Supervisors are behaving like Boulder CO–where government mandates only serve to displace those they (supposedly) intend to help.

(Actually, in the case of Boulder, there is not any low income housing (none!)–it’s a charade promoted by the old money to sustain their property values. Just like opposing big box stores within the city limits sustains values for downtown property owners who would be boarded up if real competition was nearby.)

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By: AlkalineState http://blogs.reuters.com/reihan-salam/2013/08/23/in-new-york-the-rent-doesnt-have-to-be-too-damn-high/#comment-659 Wed, 28 Aug 2013 16:35:23 +0000 http://blogs.reuters.com/reihan-salam/?p=362#comment-659 High New York rent reflects high demand. It’s not infinite. If it gets too high, the demand will shift elsewhere, and the prices will level themselves out. Hipsters find other places to convene. Portland, OR rents go up. SF goes up. Philly goes up. Chicago, Boston, Seattle. All go up. All the property owners around America are happy. Leave it alone. Let New York get expensive.

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By: bobknob http://blogs.reuters.com/reihan-salam/2013/08/23/in-new-york-the-rent-doesnt-have-to-be-too-damn-high/#comment-651 Mon, 26 Aug 2013 20:12:17 +0000 http://blogs.reuters.com/reihan-salam/?p=362#comment-651 great article!

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By: nhojarts http://blogs.reuters.com/reihan-salam/2013/08/23/in-new-york-the-rent-doesnt-have-to-be-too-damn-high/#comment-649 Mon, 26 Aug 2013 18:32:58 +0000 http://blogs.reuters.com/reihan-salam/?p=362#comment-649 So in other words – the problem is still greed. Thanks for YET ANOTHER lengthy, over-thought word pool describing a problem that has existed for quite some time. Greed.

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By: tmc http://blogs.reuters.com/reihan-salam/2013/08/23/in-new-york-the-rent-doesnt-have-to-be-too-damn-high/#comment-647 Mon, 26 Aug 2013 17:45:59 +0000 http://blogs.reuters.com/reihan-salam/?p=362#comment-647 You’re right @COIndependant, and those old neighborhoods will long outlast the new vinyl box neighborhoods. They certainly won’t last a hundred and fifty years like many others in the northeast have. But the future is rent, not ownership. Banksters and corps will have their way, and their cut. Welcome to the USCA.

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By: COindependent http://blogs.reuters.com/reihan-salam/2013/08/23/in-new-york-the-rent-doesnt-have-to-be-too-damn-high/#comment-646 Mon, 26 Aug 2013 17:31:43 +0000 http://blogs.reuters.com/reihan-salam/?p=362#comment-646 @blue True, you can increase density by going vertical, but building regulations are so onerous that one incurs costs that drive the price beyond affordability for middle income folks. Here in Colorado, some counties now require the installation of fire repression systems that add another 1%-2% to the cost–as if the frequency of homes burning down has mysteriously increased. Additionally, building codes now require fewer homes per acre, while the average size of a home has increased by 800 sf to 2200–not including the 3 car garage. $25,000 sewer and water taps, permit fees, it never ends.

Add all of these factors together, in addition to increasing material and labor costs, and it’s damn tough for a builder to build any home a for a young family to purchase. Even if they can, they are often so remote, the commuting costs consume any savings. (That being said, consumers also want all the amenities. Formica and carpet is not sufficient–it has to be granite, hardwood floors and stainless appliances. And a 1200 ft, 3 bdrm, 1 bath “starter” just isn’t good enough anymore. Each child has to have their own bedroom, too. We are victims of our own over-indulgence).

We built this entire country over two centuries with minimum government involvement. SF was re-built after the earthquake without any building regulations (look it up) and without rent control (a 1990’s phenomenon to promote affordability–resulting in the most rapidly increasing housing prices in the country due to the lack of new construction.) Interesting how it all got done without government, but now government has to “fix” it.

Only in the last 20 years are we incapable of doing anything without the government dictating every phase of the effort. Interesting that I do not see the old neighborhoods burning down or imploding due to the lack of regulation at the time.

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By: tmc http://blogs.reuters.com/reihan-salam/2013/08/23/in-new-york-the-rent-doesnt-have-to-be-too-damn-high/#comment-645 Mon, 26 Aug 2013 16:14:36 +0000 http://blogs.reuters.com/reihan-salam/?p=362#comment-645 Yep, “affordable housing”, that’s democracy for you. It means we can vote for the people that offer the most free stuff. So, again I say American Capitalism and Democracy don’t mix very well (anymore that is).

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By: COindependent http://blogs.reuters.com/reihan-salam/2013/08/23/in-new-york-the-rent-doesnt-have-to-be-too-damn-high/#comment-643 Mon, 26 Aug 2013 15:00:10 +0000 http://blogs.reuters.com/reihan-salam/?p=362#comment-643 tmc: actually it’s capitalism in contention with politically-motivated over-regulation, starting with rent control and ending with “affordable housing” mandates that limit investor returns. See San Francisco and Boulder Colorado (which has regulatory limits on housing construction).

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By: MossyMorse1118 http://blogs.reuters.com/reihan-salam/2013/08/23/in-new-york-the-rent-doesnt-have-to-be-too-damn-high/#comment-642 Mon, 26 Aug 2013 13:14:09 +0000 http://blogs.reuters.com/reihan-salam/?p=362#comment-642 New Yorkers look like the losing team after a crucial game.

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