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So the Community Service Society is out with a "report" today. I use the term report loosely because in fact it reads more like a DSA press release. I spoke to the Real Deal about it earlier today but theres some specific things you should really know about it. (Thread)
CSSNY was, at one time,I'm sure an org fighting on behalf of fair policies to help poor people. This "report" shows that no longer to be the case. You should also know that CSSNY gets most of its money from tax payer funded grants. So YOU, are paying for this propaganda.
The "report" argues that the solution to the COVID caused housing payment crises is ... for government to let the buildings fail (and tacitly encourage tenants to not pay their rent to accelerate this) thereby forcing out private owners so they'll be forced to sell (cont)
to their tenants and or "public housing authorities" AKA NYCHA. FOLKS... that is BONKERS.
1) First of all the "report" fails to acknowledge or even mention why real estate values have skyrocketed in the first place. THERE ISNT ENOUGH HOUSING in NYC.
1) First of all the "report" fails to acknowledge or even mention why real estate values have skyrocketed in the first place. THERE ISNT ENOUGH HOUSING in NYC.
2)The report sights D.C. as an example of TOPA which gives tenants the first look on buying a distressed property from an owner. Anybody know how thats helped lower rents in DC? No? Because it hasnt.
3) Are some landlords greedy? Sure! So are some Doctors, nurses or teachers... GREED ISNT WHY housing in NYC is so damn expensive. I mean artificially limiting the supply of housing I suppose is a form of greed... but more so by NIMBYS and developers then Landlords colluding.
4)The cost to provide and maintain housing in NYC is prohibitively expensive. Old Housing Stock, High Property Taxes, Thousands (literally) of local law mandates you never heard of, are all baked into rental costs.
If you can't lower those costs, you can't make housing more affordable regardless if a tenant, landlord, or government owns the building. Arguing that housing (as this "report" does) will suddenly be affordable to lower income people because they'll then own it is bluntly, a lie.
4)Renters by way of their rent check pay for most of what makes this city run. That isn't fair. Instead of arguing for fairer tax policy which would lower rents, CSSNY ignores it completely never explaining what happens to the tens of billions in property taxes once
...private owners are put out of business by their plan. As a renter I know once I own my building I will be pretty damn vocal on every rent increase to cover property tax payments. Will be kind of hard to explain that one away as "greed"
I consider myself a progressive. I want a system that works for everybody. It is possible. This isn't it. Whats progressive? End the Rent Control Scheme. Destroy the idea that tenancy is tied to a unit of housing and give tenants real negotiating power with vouchers worth a damn.
The free market dosent work properly in NY because it isnt a free market. The RSL coupled with bad zoning policy has created a bottle neck of old housing stock with tenants locked in apartments owners can't afford to improve and tenants stay in because its all they can afford.
Thats madness! Imagine if we built enough housing for everyone, not just "affordable." And we made sure those who couldnt afford certain apartments could afford them with a robust voucher? Suddenly we arent bankrupting owners by artificially pushing down rents and
renters actually have free market power to force owners and developers to COMPETE for their business. That will automatically bring rents down as more housing comes on line and more people can afford to move into the because of those same vouchers.
The vouchers pay the prop tax burden thereby reducing the need to raise taxes on everybody else , owners still make a good profit while investing in their buildings. New Housing is built. Everybody has a home. NYC grows. Supply and demand are met. Everybody wins.
