Sure if there was a free market but there isn't. Instead the economic game is rigged by middle class and their rich usurpers, while govt jacks up housing costs plays games with taxes. Read up on georgia jacking property traces on the geechee of hilton island. NYC real estate is so regulated that only luxury housing is being built at this point. Don't get me started on what the war on drugs accomplished. But that's democracy for you.

This post was edited on 6/23/14 at 11:23 pm

4 ...

Report Post

Posted by AbuTheMonkey

Chicago, IL

Member since May 2014

8020 posts

Posted on 6/23/14 at 11:30 pm to RollTide4Ever

quote:
Sure if there was a free market but there isn't. Instead the economic game is rigged by middle class and their rich usurpers, while govt jacks up housing costs plays games with taxes. Read up on georgia jacking property traces on the geechee of hilton island. NYC real estate is so regulated that only luxury housing is being built at this point. Don't get me started on what the war on drugs accomplished. But that's democracy for you.

You do realize that rent control - an idiotic policy designed to supposedly help the very same people whom are being cleared out of these neighborhoods - is the primary driver of this, correct?

1 ...

Report Post

Posted by ironsides

Nashville, TN

Member since May 2006

8153 posts

Posted on 6/23/14 at 11:31 pm to RollTide4Ever

quote:
NYC real estate is so regulated that only luxury housing is being built at this point.

To be fair, NYC real estate prices don't have as much to do with regulation as it does bulletproof demand and wealthy foreigners buying property because all the investments in China and European investment markets are a complete shitshow. There was an article in the NY Times or WSJ about it. There are foreign investors buying floors of apartment buildings with no intent of ever moving in and furnishing them

Rental markets, now those are a shitshow because of regulation, but it probably helps as many elderly as it hurts young people.

1 ...

Report Post

Posted by LaFlyer

Member since Oct 2012

1043 posts

Posted on 6/24/14 at 1:20 am to RollTide4Ever

RollTide4Ever

quote:
Sure if there was a free market but there isn't. Instead the economic game is rigged by middle class and their rich usurpers, while govt jacks up housing costs plays games with taxes. Read up on georgia jacking property traces on the geechee of hilton island. NYC real estate is so regulated that only luxury housing is being built at this point. Don't get me started on what the war on drugs accomplished. But that's democracy for you.

So there is no free market and the middle class is being sponsored by the rich? Now your view on taxes I agree, but as a liberal I presume you are you have to agree the left pushes them in order to pay for their agenda.
Now regulation and luxury housing only being built are separate issues, rent control was designed to make sure someone is not priced out of their apt. and is anti free market. As far as luxury market being built exclusively, I agree with you but these units aren't being built just to build, there is a demand free market or otherwise. NYC is an international city now more than ever, the UN and financial markets bring in high salaried people willing to pay a price locals are not able to. Be mad at them.

2 ...

Report Post

Posted by rb