Nondo Bailouts
Regarding this article, I’m all for affordable housing, but I’m trying to wrap my head around bailing out condo developers instead of forcing them to contend with the market. The state doesn’t hardly take a cut when the market is booming. I’d be bummed if I was gambling on a real estate bubble and found…
Regarding this article, I’m all for affordable housing, but I’m trying to wrap my head around bailing out condo developers instead of forcing them to contend with the market. The state doesn’t hardly take a cut when the market is booming.
I’d be bummed if I was gambling on a real estate bubble and found myself without a chair when the music stopped, but that’s why I didn’t bet my whole livelihood on an obviously inflated real estate market.
When the market picks up (which it will do a lot faster with otherwise failed projects like the Bushwick development getting bailed out) will these landlords be under any continuing obligation to rent “affordable” apartments ($1800 is affordable? That is well over the average in Bushwick.)
Can anyone offer a better explanation for this?
NYS is broke. I doubt they “bail out” at market rate. Too uninterested to read whole article carefully instead of quick scan – sorry. Did they say anywhere that they’ll pay 1:1?
***Bid half off peak comps***
quote:
Can anyone offer a better explanation for this?
we live in an ass backwards society?
that’s really the only reason i can come up with.
*rob*