Posted on 02/09/2024 6:47:20 AM PST by ChicagoConservative27
The rent’s too damn high in New York — but the broker fees are really murder.
City dwellers wanting to score a place to live at a reasonable price are finding that out the hard way — as they are being socked with outrageous fees of up to $20,000 just to be able to rent an apartment.
One home shopper claims he almost lost it when a broker tried to soak him for a $15,000 fee for a $1,100, rent-controlled apartment in a run-down brick building in Flushing recently.
“I never replied because not in a million years would I ever do that,” Christian Garbutt, 27, told The Post Thursday.
(Excerpt) Read more at nypost.com ...
Rent control: You pay a 15K bribe to the broker so you can steal 2k every month from the landlord.
Sometimes you can cut an under the table deal directly with the super. Either way you get to steal thousands from the owner.
BTW these deals are not for poor people or Republicans, they are only for friends and supporters of the politicians.
I guess if you believe the numbers.
Makes complete sense....people moves from Manhattan to Brooklyn because Manhattan was too expensive...they are now gravitating towards Queens, and those prices are starting to skyrocket
Yup- and they are now reaping the “rewards” of their votes for hochul, adams, bragg, etc...
Bingo!!!
In this case the rent is not high rather the bribe to get a low rent is high...
I’ve seen lots of articles like the one you linked over the years. Filthy rich celebs scamming the system and taking apartments for next-to-nothing. Of course, landlords have to raise the rents on their “non rent-stabilized” units to compensate. So the lucky few strike a bonanza and screw everybody else. It always that way with anything subsidized — no different than the juicy tax breaks if you buy an EV. The rich can afford EVs and don’t need the tax break, but they grab it anyway.
All the towns in California must comply with state regulations that say that all new housing projects MUST include “Below Market Rate” units for low-income people. The idea is that you need store clerks, librarians, etc in your town. But there are several big things wrong: 1) the number of units is minuscule compared to need, 2) you, too, can be Life’s Winner in the housing lottery - that’s how the winners are selected, and 3) we’ve often seen people without financial need somehow snag them (just like NYC).
Rents would come down if we deported 30 million illegals and all those housing units became available for AMERICANS.
And they get a WIC card with a couple thousand in food credit and an SSI check of a couple thousand and probably some NY and NYC equivalents, and a Section 8 payment direct to the landlord.
Where there is no legitimate market the black market takes over—in millions of creative ways.
Everything and everyone is up for sale to the highest bidder.
At some point the locals figure out the game and try to make money off of it—more profitable and less risky than trying to fight the Empire.
“Where there is no legitimate market the black market takes over—in millions of creative ways.”
No kidding. If only people had incentives to put that creativity to productive use.
I live in Wilmington, NC and they are building THOUSANDS of apartments. Everywhere you look there are 3 and 4 story buildings under construction.
First off, that doesn’t encourage home ownership and secondly, it tells me that the powers that be are doing everything they can to discourage it and prevent it. My mortgage payment on a 4 bedroom/ 2 story 3 year old home is less than half of a 2 bedroom apt here.
Here in North Idaho there is construction everywhere. Lots of new housing developments going in as well as apartment complexes. They seem to have shrunk the minimum lot size for a house down to 1/6 or 1/7 of an acre. You can pass the sugar bowl back and forth between houses without going outside.
Traffic, overcrowding, noise, congestion...ugh. People moved here to get away from that.
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