CRISIS… NYC Needs 500k More Apartments
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- Опубликовано: 27 сен 2024
- If new york cant build more apartments, people will have to leave the city or sleep in temporary housing.
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I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.
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"Camille Alicia Garcia" maintains an online presence. just make a simple search for her name online.
Thanks, I just googled her I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
I wonder how many of the luxury condos that were built over the last twenty years in Manhattan have vacant apartments with foreign owners.
I'm not an expert, but if I would think about levying hefty taxes or fees on non-residents who are buying up properties or condos and then leaving them vacant. I would also look at tax incentives for landlords who are above a certain percentage of units rented. If you "mothball" apartments you loose tax incentives. Just some thoughts.
what r u racist?
Not at all, but there have been articles over the last few years about wealthy foreigners using NYC real estate as a secure asset to park their cash in which drives up prices for people who actually live in NYC. @@carlooo00s
Its thiers they can do what they want. Go back to ur shared space.
This. Go to Soho and look in the windows. EMPTY
This housing crisis song is being sung in ever corner of this country and it is becoming a viscous cycle. Something has to be done to balance the scales of wages and affordable housing.
They'll create a new scam soon. Temporary relief but longterm losses will be on the horizon.
Converting office buildings would be a smart idea… but then who is responsible for that cost.
Exactly, and adding millions more people that are a drain on society to our country is going to help us do that. Right? No. No it won’t.
@@MissCleo24Exactly! Like the government. Like those who run states and cities. They pad. Their pockets and get nothing done. Deblasio’s wife was put in charge of the homeless situation in New York. She was given $800 MILLION dollars to fix it. Nothing was done and the money… nowhere to be seen. It has never been accounted for. They literally sailed off into the sunset with almost a billion dollars. Or is it more? What other programs did they steal from? How much did they get from them? Who knows but those in charge now will do the same.
You are correct! We live in Ohio, literally less than ten minutes from corn fields, and our rent is up to $2,200! That doesn't sound high, but you don't make as much in Ohio, at any job, as you do in NYC or LA.
Cash, thank you so much for your thorough reporting. We were forced to leave NYC in the pandemic since my Mom's health was declining. She lived in Hawaii. We dreamed of moving back to NYC but with the migrant crisis, it does not look good. We miss NYC and our dear friends and neighborhood. We'll wait a bit. Thank you again for all your hard work! Aloha😊
WOW VERY DANGEROUS SIR I WILL NEVER GO TO USA ! 😡😡 THIS WHY IM SO LUCKY LIVE IN SUPER INDIA THE CLEANEST COUNTRY IN THE WORLD 🇮🇳🤗 , WE NEVER SCAM! WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳
@@indiasuperclean6969 O sure ,stay in India
Man, you just moved to another very expensive place :D
So glad you brought up infrastructure. So many forget about what they don’t see. Great work. Keep it up. Love the channel.
Just watched a RUclipsr move into an apartment that cost $8400 per month! That amount of money you could rent a HOUSE with an ocean view where I’m from
Yup! Besides that they want your income a month either double or triple the rent ! like bro… 8500 in Hawaii would get you a top penthouse!
Where I'm from, that $8400 a month would cover your median rent for an entire year, or buy you the average house in just 18 months. You'll just miss out on the ocean view by 1500 miles or so.
But you will be in boring area. You can't watch the see all the time. I know wealthy people with a sea view. When they have time they go in big cities, in the mountains. I gues there are no museums, to cultural activities, the food, you need a car...
@@AhahahhaaahHawai is far from everything. 20 hours flight in orderto visit NYC. You are isolated from the rest of the world. In Hawai, why living in an building if you can afford a private house?
That's 8 and a half months rent where I'm at
Wow. The problem is worse than I thought. I used to live in a rent stabilized apartment before I left NYC prior to the Pandemic. I thought I’d be able to be back to the city soon, but that ideas is fading away after looking at this worsening housing crisis. I thought it was bad before leaving the city. Now it feels like irreversibly unrecoverable. Thanks for the nice video.
You will never be able to afford living back there as long as all the illegals are there. New York is dying an it's not a slow death. They've already cut there budgets on Everything 5% an Adams wants to go to 15% before the years end. Normies that think there goin to move to new York are living a pipe dream unless you're an illegal alien then your straight
My cousins were all Big Apple, born and bred, but left for the Sunshine State and never returned. Used to shop at Prince & Sullivan in Soho!
@@virtualselfie6899 used to walk around the neighborhood all the time.
@@nydreamer my mom had a brooklyn accent till the end, it was lovely; that's why I probably always like nyc accents; I have a slight trace, lol! a couple months ago, someone asked me if I were from brooklyn; I remember smiling as that was the nicest thing I had heard all day. We lived in San Fran for several years in The Haight but it really ran downhill, with a lot of store and business closings. Housing is sky high there. And the big problem ~~ no parking. See what Mayor Eric Adams does in his accelerated building program. If your heart is there, go back and live your NY dream.
@@virtualselfie6899 Biden has caused all of this inflation and allowing illegal aliens to invade our country. Americans are being thrown out of hotels to make room for illegal aliens. So disgusting. I'm so disgusted with Democrats!
Also there's another thing adding to that.
Half of Manhattan is not available for expanding up because terrain originally swampy and full of lakes, and this makes middle Manhattan close for constructing building any taller.
If you ever wonder why skyscrapers stopped growing from financial district, and then again pumping higher around centre park
I work in a rental building and watching these apartments get rented out fast shocks me because of how people can still afford it even with the increases.
there will always be someone more desperate
I always wonder how!?
fr, crazy how they say its so expensive yet they get rented out quickly. making no sense
WOW VERY DANGEROUS SIR I WILL NEVER GO TO USA ! 😡😡 THIS WHY IM SO LUCKY LIVE IN SUPER INDIA THE CLEANEST COUNTRY IN THE WORLD 🇮🇳🤗 , WE NEVER SCAM! WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳
@@indiasuperclean6969 Top shouting, idi0t.
So why oh why do they keep coming??? It's not just apartments in buildings, its infrastructure. There aren't going to be any additional roads, sewers, water lines, etc. The answer is that NYC is all full up. Go someplace else!
Ummm maybe close the border? The sink wouldn't be overflowing if you turned off the faucet...
Agree!! We as a country don’t have the room or resources to take care of every person who walks across the border.
This is such a sad and defeatist attitude. NYC for the most part already has infrastructure to support more buildings and improvements can always be made. The answer is not "NYC is all full up". There is a housing shortage across the entire country and even much of the world. You can't tell people to go someplace else when there is a shortage everywhere. We need to build more housing.
@@peggyvandine1540 Exactly. Why is the U.S. the solution to everyone on the planet's problems.
@@beachbumsailordude Agree!! We have controlled immigration laws. We allow immigration through the “front door” so we can control how many people come in to avoid the current situation. This is what happens when Millions of people come in the back door with no plans of their own as to how to support themselves. Sad.
Cash, I do love all your videos, but these videos commenting on the housing crisis in NYC are spot on. Your reporting on the migrant/housing situation is just that, reporting, not your opinion. Thanks for keeping us informed on a situation that is also playing out all over the country.
Sounds like its not a problem, sounds like a lot of very stupid people engaging in a form of serious self-harm. Who cares? you get what you voted for.
Maybe next time vote Trump. void an immigrant crisis that results in a housing crisis.
Wouldn’t it be great if he also stated the facts that of liberals would stop supporting illegal immigration, this issue wouldn’t be exacerbated? Also, fixed rate rent is way too communist.
migrants should be shipped off to siberia. Why are these people coming to this sinking ship of a country anyway? And why are we inviting the absolute quality people too from africa, central amwrica and the middle east? .
@@BellicVyou know nothing about politics other than what your told, first thing immigration is good for an economy it grows the work force, secondly the only reason the U.S has strict immigration laws is not to prevent illegal migrants from crossing the border but to ensure that the U.S has cheap and replaceable labor if you want proof look at the restaurant business, look at farming and construction all jobs that are most likely to have under paid illegal immigrants to insure no chance of labor movement or unions cause they can be sent back to their home if they try to fight for better wages, lastly Trump does not care about the American people all he wants is to cut taxes for the rich and not the working class you forget that he is the wealthy elite.
You do a great job of alerting people to the housing crisis in NYC. Terrifying and super complicated.
I am glad I moved out of the country in 2022. The US is destroyed beyond repair and bouta collapse.
nothing complicated by woke ideology
It's not complicated. You have millions of people that want to live there, and not enough places for them to live, so prices are bid up. This is basic economics
The worst part is that Cash uses his platform to “normalize” a two bedroom, 820 sqft walk up flat for $4500.00, while selling the neighborhood filled with restaurants and shops because you can’t actually cook in it or spend more than an hour cooped up with your roommates.
It's not a housing crisis it's an illegal alien crisis an its nowhere near being over. You get what you deserve new York
I moved out of NYC in 2015 and the prices were crazy then.
They are out of control now.
How can anyone afford to live there?
Food prices are outrageous.
Literally blows my mind that so many people decide to live in NYC. I would NEVER live there.
Your videos always take me back to my many visits to NYC in the 80s/90s. I grew up in a big city my family lived there since we came over to the USA. I left over 25 years ago because I saw that living in a big city and trying to have a family, house and live was going to be difficult to afford. I’m a retired electrician so I made good money but I knew it was time to go. I’ve never looked back but I love these videos to see how people can honestly survive in this environment nowadays. I think many here even though most never lived in NYC are fascinated with the city. I know I am. 🍻
WOW VERY DANGEROUS SIR I WILL NEVER GO TO USA ! 😡😡 THIS WHY IM SO LUCKY LIVE IN SUPER INDIA THE CLEANEST COUNTRY IN THE WORLD 🇮🇳🤗 , WE NEVER SCAM! WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳
Cash, I just have to say, as consistently as you upload new videos - not just videos - but literal cinematic masterpieces - there is no doubt whatsoever that you are out here working you ever loving behind off 24/7!! I have so much respect for you. I don’t know much at all about videography, vlogging, photography, etc, but it doesn’t take an expert to see that you pour your heart and soul into each and every one of your videos. You’re a master of your trade my friend 💯. Thanks for the entertainment and enlightenment that you provide for us all, day after day.
Take the eggplant out your mouth have respect for yourself
Long island city has been building tall glass residential buildings like crazy.
100,000 are American citizens in NYC 20,000 of those are children. Illegals are another number and have no citizen rights because they are not citizens
Long island city is building tons of residential towering buildings.
Residential buildings are being built all over long island city. Crazy construction going on there.
These housing issues are everywhere. They are magnified in big cities like New York. But even in the town I live in of 50,000 people I could not afford to rent or buy. Thankfully I own my house now. Because it would be almost impossible to get a house now and I could not afford to rent anything in this town. It's crazy.
what really ticks me off is the luxury apartments and condos that sit empty and take up space 🙄 i used to love watching videos of these mega apartments until i learned of their true purpose.
In my neighborhood, there are 20 new apartment buildings and 18 of them are luxury buildings. And they are built at record speed. The buildings with affordable units, it takes 3-5 years to get them to completion.
I'm sure by "luxury" they mean they want a certain type of person to buy them. Most "luxury" just means new construction for people that aren't on gov assistance.
The rental housing crisis has been in works for decades as you said in your video. But not only in NY in every major city in NA. Here in Toronto it's the same, rents skyrocket to 2,600 CAD for 1 bdrm. That seems really low compared to NY but it's very high for us. I'm lucky to be in a rent controlled apartment, won't say how much, but I can never move. The issue is politicians who talk and do nothing else and housing bureaucracy.
Sounds like its not a problem, sounds like a lot of very stupid people engaging in a form of serious self-harm. Who cares? you get what you voted for.
You live in rent controlled= landlord getting seriously screwed. Leech
@@dcg590 Get real. Just because I've been renting the same place for over 20 years doesn't make me a leech. How long have you been renting in one place or do you rent? Maybe you own a rental property built before 2008? What is your skin-in-the-game that gives you the right to call a total stranger a leech? Perhaps it is jealousy?
@@dcg590The Leeches are the LandLeasers. They ain't no effing Lord of mine!
Maybe Mayor Adams should have a chat with Vanguard Group and Black Rock who they are selling their properties to • China, Saudi Arabia, Egypt, Russia • and maybe someone can explain why million dollar condos are sitting empty and suppressing the housing cost city wide.
Changing how AIrBnB operates in the city was a start.
How is the mayor selling properties at all? Don't developers typically acquire these properties through the free market? How exactly does it work in NYC?
Easily explained, a safe place to park your money.
Exactly something sinister is going on and greed is to blame
@@darthbumblebee7310 because corporations and the average consumer see housing completely differently. Corporations see housing as a commodity and will trade it as such, were as the average consumer will see housing as a necessity and try looking for the cheapest possible unit to live in. Because corporations see housing as a commodity, they have no incentive to bring down their prices, no matter how many apartments or homes that are being built.
My wife and I were priced out of Manhattan two years ago. We moved to a small town in the Midwest. Life has become very boring.
Ugh, I'm so sorry, Richard! Come back to NY. It's been gloomy without you.
I live in CT and we have lots of New Yorkers who moved here over the past few years, affecting our rents/home prices too. This is a national, not just a local urban problem.
I wouldn't say it's even national, but worldwide. We're not building nearly enough housing units to decrease demand even a little. The amount of people on earth far exceeds the amount of available homes. If you want to look at it as a supply and demand chart, the amount of homes would need to exceed the amount of humans on Earth. But is that a realistic thing to do? No.
Man, this was so informative. Makes me wonder what you studied in college. You research and research and then eloquently transcribe your findings for your viewers to understand. Thanks~
I am so glad the kids are grown and I'm semi-retired. I downsized 6yrs ago moved south and bought a small mobile home for $34,000.00 ... now a days my life is Simple🤙🏼💃
🍻
Ditto for me too! NC
Who asked you? I wonder if anyone will be your funeral😅
Nice move! Literally and figuratively.
@@TheTruthladyI moved from insane prices in Seattle area to a rural town in NC in 2021. But even here… prices are climbing and interest rates keep going up. Glad I bought and moved when I did!
Baffles me because Corporations continue to build unaffordable Apt that cater to Trust Fund Babies and Millionaires.
Making lots of money baffles you in a corporation? How so?
I live in a corporate, amenity filled, “luxury” apartment, brand new in North Carolina for $1350 a month. I laugh at these NYC videos, the apartment they show are absolute trash and they still easily go for 3k+ 😆. Corporations are providing housing in the South to keep supply high and prices low. NYC is high tax, unfriendly to business and people
You’re doing a great job presenting these important issues! I honestly can’t see how people with families and a single person afford these outrageous rents and the price of living in Any City especially New York! ❤❤❤! We humans have red taped ourselves out of business.
Why do people want to live in the cities? Especially with remote work options. It's beyond me.
This was thorough reporting. I’m a native New Yorker. When gentrification began in bk and queens prices shot through the roof for apartments :/ the “affordable apartments “ are in areas that aren’t that nice. I know, I live in a rent stabilized apartment and the area is horrible.
That's most of the city now. Horrible.
Thank you for doing these videos on what’s happening in NYC. Really appreciate your efforts.
The amount of multi-billion dollar buildings with barely any usage is insane.
I read NYC is going to make any under 30 day rental (Airbnb) illegal. They’re hoping those short term rentals will become permanent rentals. Now if we can get the hotels to have rates more affordable for visitors. 👍🏼
Awesome job cash see you tomorrow
Lit
I'm glad you're putting out these informative videos to show the reality of what's happening not just in NYC but nationwide...
@vandalianion There are more than enough empty houses and abandoned buildings scattered across the country to house our entire homeless population multiple times over. But they are almost all in areas where there are not enough jobs to create self-sustainable growth or a well-functioning local economy. Once a town begins down that death spiral, it is very hard to reverse its course.
internationally dog. it's global. signed, a canadian.
US politicians will act on this if there is a way for donors to get rich.
The same crisis as started in France in the entire country.
It's a shame he can't interview any of the property owners/ landlords that raise the rent. Would like to hear their take on this. Guessing they might say that the property tax should be lowered? idk.
Just lower the damn rent or make these corporations pay us more. This is beyond crazy!
Throwing up high rises too fast is a horrible idea...it's unsafe... allowing to many people into the city is unsafe all across the board...it makes no sense what's going on in NYC.
Excellent reporting Cash on housing crisis in NYC.. Keep them coming
This crisis is also, at least partially, the direct fault of corporate owners of older buildings. A simple google search says there are anywhere between 40,000 and 90,000 vacant apartments sitting in NY doing *nothing* but creating an artificial shortage of livable space. That "shortage" is what's driving up prices. The NYC Gov't NEEDS to go after these leeches and get them to open the market fully.
Exactly! Surely the solution isn't just to keep building more. He just made a video about all of the vacant apartments with landlords who won't renovate them because it's easier to leave them empty. They need more regulations to keep them all in line.
glad that you see through the smoke and mirrors about the artifically designed housing shortage due to corporate and wealthy foregn property investors Same thing here in Canada.
Biden is owned by blackrock, it seems.
FYI, if there were zero vacancies that would be a terrible thing. You want a high vacancy rate - high enough that landlords have to compete for tenants, but not high enough that the neighborhood empties out and goes into a death spiral. St. Louis is a great example of this - North city neighborhoods had high vacancy (followed by much of the housing stock falling apart) but south city neighborhoods didn't hollow as much. But there's still a fairly high vacancy rate to rentals can sit on the market upwards of a month in desirable areas. The consequence of this is that rent (and homeownership) is very affordable. But it does end up coming back to supply - there's way more supply than there is demand to live in the city, so housing costs are very cheap.
Same here in the UK where I live. We’ve a lot of older flats which no one can rent and newer flats available for rent which cost too much. The local council wails about the lack of ‘affordable housing’ and authorises more flats ad infinitum.
It’s makes more sense to see businesses to relocate if possible and necessary to avoid the local housing and inflation problems. The employees can’t just work for less money and businesses really can’t pay more to keep employees hired.
CEO's can take a pay cut to help out. But somehow thats "Not American". Local franchise owners Dennis Mayhall and Gerald Preston in DFW Texas owns most of the Dominos stores. Stores are having broken AC's and plumbing issues. He will not get stuff fixed unless the health inspector gives him a five day deadline. And he made the stores stop order parmesan and pepper packets and pockets that extra million a year for himself. Greed is the ultimate thing that is hurting this country right now on every level.
And in my Tias neighborhood lots of houses are getting bought up and have been empty for going on three years now. Rich people are buying the houses for "investment" properties. At most I see people live in the houses for just two months out of the year. People can not afford the asking renting price so they just sit empty. Need to go back to 50s-60s tax rate and start taxing the ultra wealthy 75-90%. Reganomics is starting to reach a very bad spot.
As an owner, I can absolutely assure you that rents in NYC are too LOW. For example, the money I would make renting out my apartment, at current market rate, would return less than $5000 a year. It's not worth my time or the trouble, or the damage a renter could do to my property.
I'll go further and suggest there is not a Housing Crisis at all, but rather an Income Crisis instead. Salaries are not keeping up with inflation, and this has been the norm for 30 years now.
Don't get sucked in by corporate liars. Tell your boss you want a fair wage, and suddenly your personal housing crisis disappears. Either that or move to Jersey, Queens, or the Bronx.
NYC Voters wanted NYC to be a sanctuary city. Sent NYC more "refugee" migrants, by bus, boat, and plane.
The politicians labeled us a Sanctuary city. The law on the books for NYC is right to shelter for NYC residents only. Adams during his Campaign went down to the boarder to encourage them to come. They are being told they will get free housing, Free healthcare, Drivers licenses, Free Education , Free food, Free transportation. Free cell phones/tablets, and a allowance. So of course they came. The last 50,000 never expected to be living in tents with up to 1,000 others
Rent prices doesn’t have to do with the migrant crisis. The amount of people moving into NYC is insane and what’s even more insane is that people are able to afford these crazy rent prices. I live in Hells Kitchen here
@@serene889 Please show me your source you claim says Adams went to the border to encourage them to come and that they would get all the free stuff you mentioned.
@@adamn7516. It was in the news. How clueless are you guys? Oh , I see you think the border isn’t open.
Now I’m just laughing.😂😂😂😂😂😂😂
Enjoy another whole year of buses!!!!
🥤🍿🤣🍿🥤
@@adamn7516you can literally look it up on RUclips are you kidding me
I think the issue is that people say they want affordable housing but then when the affordable housing comes out people say it’s a bad neighborhood and don’t want to live there.
The fix for "bad neighborhoods" (crime-ridden) is more (and better) policing. If someone steals, they should be reprimanded. Crime results in poverty. Many economists, including Thomas Sowell, have proven this repeatedly. Stop crime, local people invest time & money, prosperity grows. There's a reason NYC grew under Giuliani and he was "America's Mayor" after 9/11. EVERYONE wanted the NYC miracle for the nation. He could have replaced Bush. Hell, nearly all of USA wanted to remove Bush and install Giuliani even in '02.
I've lived in NYC my entire life. I do believe that the housing crisis can be significantly improved if the governor and mayor put their differences aside and worked together. I don't see that happening with these two high horses.
I remember arguing with someone about if buying in major, unaffordable cities were a good or bad investment. I thought they were bad, he thought it was good. I explained that the people cannot afford to live, he explained that buying housing is a bet on government incompetence. Tldr; he was right (we were talking about Canada though)
they need to live poor for the whole entire decade
It's not just about differences between the mayor and governor. It's about greed. NYC drives housing prices as high as possible because that's more money the state can collect in property taxes.
I CAN LIVE like Jesus @ilovejapan717
New Yorkers have every right to deny entry of new buildings. The city cann't sustain this growth. It's already insanely overcrowded.
Thanks for updating the NYC Jordan,yer videos are getting more and more interesting! I lived in the UES for 25 years, I had a 3room unit+eat-in kitchen on rent-stab, my starting rent was $700.
I love that youre taking a more activistic approach to your channel man, keep up the good work!
I agree. Looks like Cash Jordan is starting to fight back.
Know how you fix housing? Remove the 45Million illegal aliens. Since most of them are in/near cities, that takes a huge pressure off the market. Next remove the laws that allow the millionaires to buy buildings/spaces and then intentionally leave them vacant by advertising/charging exorbitant rates. They do that to park their cash in non-deflationary goods then borrow against the value for liquid cash. But politicians won't do either because it removes their voting base and donor money.
I renovated my apartment last year. DOB is sucks. All kinds of rules and inspections need to be followed. A complaint can force you to stop working for months. Nobody wants to build affordable houses here since it's so risky. You need to spend 20 thousand alone on paperwork.
What is DOB?
Damn bureaucracy
department of building. You need to apply for a permit to renovate. after you have done your work, they need to make an appointment for inspection. During your work, any little things can stop your work by months. @@jackhammer5683
To answer the question “do you live in a dump?” The answer is yes, yes you do. I’ve been to both Seoul, South Korea and Tokyo, Japan and both are super clean. No trash/litter, very few homeless people, and little construction
5600 dollars a year? that is crazy. No one should pay more than 10% of their salary for housing. One has other expenses too. Here in Sweden, I pay 2700 dollars/year, half of what you have.
Hi Cash and to your friend hope things get better in NYC. Nothing seems to be improving here in SoCal. Barely making much as a part time driver. Wish you and the City of New York lots of luck in bringing back affordable apartments 👍🙏
And we all know they both have something in common they have Democrat Governor's.. the lawlessness party I call them
@@tonytiger9020 housing costs are going up everywhere. Even non-democratic ran areas. Look at Miami. But, by all means, don't let me stop you from ignoring responsibility and from blaming all of your problems on democrats.
@@darthbumblebee7310 I blame the Democrats for allowing 7 to 10 million UNVETTED leeches and criminals into this country. I'm not worried about housing for myself I own my own house..
@@tonytiger9020 so now instead of the fault being the "Democrat Governor's", it is allegedly the fault of democratic federal policy. Or do you not realize that state governors don't set federal policy? You either have severe issues with cognitive dissonance or you lack a basic understanding of how the US government works.
15% cuts. 5% cut in November, 5% in January, and 5% in Early Spring. These are all of the three planned cuts for NYPD.
"NYPD, NYFD, corrections, sanitation workers, and public schools are getting cut overtime pay to help cover migrant crisis costs: housing, feeding, educating. Hire freeze in these areas has been introduced"
Does NYC really need 0.5M apartments? Cuts in all services, from NYPD to education will make the city to be like SF.
this is why I am homeless in the city and trying m best to get by. I have to sleep in the parks now and last winter wasn't the best sleeping outside. Yes, I had issues at shelters and being robbed
@@ThePandaPhotographersorry to hear that. Are you able to buy a small van to live in temporarily?
@@ThePandaPhotographer
CBS News, September 1, 2023, "Families living in New York City shelters being relocated to make room for incoming asylum seekers"
CBS News, August 31, 2023, "The White House says funding is available for the NYC to provide housing for eligible asylum seekers families, which includes up to 14,000 vouchers".
"Not only vouchers are on the table"
New York plans to use $25 million in state funds to rent temporary homes for up to 1,250 asylum-seeking families who opt to leave New York City's crowded shelters.
no, they just need to start deporting
@@ThePandaPhotographer Just move somewhere else of your life is so bad. Get 2 jobs. A lot of places can't find workers. Be strong. It is easy to work in NYC if you are legal without mental issues.
Housing in NYC is so F'ed. The "affordable" units are generally calculated as 1/3rd of your income..m BEFORE taxes. So its half or more after taxes. So you have to go through a lengthy bureaucratic processes just to apply for a place that will cost you like $2300 a month provided you make like $70k or less. It's a complete joke. And all that gets you is controls on how much your rent can be raised each year, you know the same rules that entires states have for EVERY rental unit, like NJ. I know people who have stayed unmarried so they could benefit off one partners lower income, its a joke.
NYC is done and finished. No reason to live there or try to live there anymore. I’ve been there a lot. It’s a dirty, crowded, expensive hellhole.
I wonder how many Airbnb there are? They are a drain on housing and the hospitality business, not to mention on tax and other revenues.
I know, right? How dare those $125/night Airbnb's keep the hospitality business from fully rrenting out their $600/night rooms ! /s
@@ae2948where did you see an Airbnb for $125 in New York
@@wontbefooledagain9400 Brooklyn.
What more people need to talk about is Long Island. There are rows of suburbs EVEN WITHIN THE CITY that are begging for upzoning and rapid transit connections.
No, LI is extremely unlivable due to taxes.
More upzoning and transit upgrades the higher your tax bill will be. The “taxes that are just on your town bill include transit taxes, out of state college tax, insanity.
@@ceecee7879 What are you talking about? Cost of housing on LI has drastically outpaced any tax increases in recent years. The problem is not enough supply in housing.
I'm from Dundee, Scotland, which is a small city on the east coast of Scotland numbering at around 140,000 people. Growing up, I always hated it. Felt like I was living in a post-industrial bubble where the only things to do were drugs and crime. So I had always dreamed of moving to a bigger city where the grass was greener. Now that I'm older, I still hate it, but at least I can afford to actually live here and buy a home on a modest salary. My family makes around £30k a year and we have a 4 bedroom semi-detached home. In NYC, you are considered below human if you aren't upwards of $100k just to exist. Absolute madness. i feel sorry for big city dwellers who have to put up with these insane living costs and housing shortages. I thought Edinburgh was bad until I saw this.
Thank you for the info this crazy the world will never be the same again
There are folks who have given up finding affordable rentals in NYC. Some have come to Philly where one bedrooms are $1500-$2000 for instance. If one needs to be in NY the travel time is about 90 minutes.
I remember your recent video on why there are so many empty broken down unsanitary apartments in New York. You said that landlords were afraid to fix things up because they were afraid of not making a profit on the reno expenses.
Perhaps something drastic, like allowing landlords to apply for large New York state tax reductions if they fix up the majority of the apartments they own, would bring more housing units into use.
It's better to rehab existing apartments because that's more environmentally friendly.
I said the same
@@susannpatton2893 Thank you for agreeing with me.
I love Cash's recent explanatory videos, they pair great with his appt tours. Very informative!
there is nothing "sustainable" about living in a city. People just work to pay rent.
Every other Mayor - More jobs, and first black mayor - More projects, more free stuff for migrants.
Good video, seemed a bit Manhattan-centric, though. The housing crisis discussion involves not just all 5 boroughs, but the suburbs of Westchester and Long Island, too.
There was a plan from the state to build 800,000 new housing units (in addition to the 500,000 unit city plan mentioned in the video) mostly around train stations like the ones serving the Long Island Rail Road.
But of course, it was stopped by suburban lawmakers, lobbied by NIMBYs who care about nothing else beyond their property values (value that only exists because of its proximity to the city and the train stations).
I'm glad I decided to not return back to NYC after I retired from the army back in 2015. Able to afford a decent house down here in North Carolina for only $190k ($1300/ month mortgage).
GREAT VIDEO CASH....! I THINK THE CITY HAS ONE GREAT PROBLEM. THAT'S MONEY AND IT'S SO SAD WHEN PEOPLE JUST WANT A DECENT PLACE TO LIVE, AT AN "AFFORDABLE PRICE" BUT AS LONG AS GREED AND MONEY COME INTO PLAY IT'S GOING TO BE SOME BEFORE WE SETTLE THESE HOUSING PROBLEMS HERE IN NEW YORK CITY
Well, part of that problem could be solved by opening app some of the vacant apartments that already exist in the city.. The other part would be not letting high-end developers go in with their Brazilian dollar condos, instead build reasonably affordable housing for the average person. But there's no money in that for the rich people... So the problem will persist, Everywhere.
Politicians be like "we need 5 million new houses"
Politicians be like "we need 10 million new immigrants to build 5 million houses"
No one talks about the massive artificial population growth that is being forced on Americans
@@joshua6287 exactly. Everyone wants to talk about the 'housing crisis', 'homelessness crisis', 'education crisis'.....it's like gee I wonder what's causing all of these problems? Could it be that we're replacing White Americans with literal third-worlders? Not just US either, same thing is happening in France, UK, Germany, Poland. All White countries.
Thanks for posting a completely different video from your usual content. The housing crisis in NYC has to be addressed and the more attention we bring to it the higher the chances of some changes happening. It is so sad to see so many displaced people and families, struggling to survive.
Know how you fix housing? Remove the 45Million illegal aliens. Since most of them are in/near cities, that takes a huge pressure off the market. Next remove the laws that allow the millionaires to buy buildings/spaces and then intentionally leave them vacant by advertising/charging exorbitant rates. They do that to park their cash in non-deflationary goods then borrow against the value for liquid cash. But politicians won't do either because it removes their voting base and donor money.
This needs to be addressed ASAP or it's going to cause a spiral, Most times it amazes me greatly how I moved from an average lifestyle to earning over $63k per month, Utter shock is the word. I have understood a lot in the past few years that there are lots of opportunities in the financial market. The only thing is to know where to invest..
I keep wondering how people earn money in financial markets, i tried trading on my own made a huge loss and now I'm scared of investing more
@@nyreggie-isb23 That won't bother you if you trade with a professional like *Sarah Alma Martinez* my consultant. I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. I basically follow her trade pattern and haven’t regretted doing so.
@@BeverlyTalley You allow people to trade for you? that's interesting, I would love to learn, hope it’s safe?
@debbie765 This is the Fourth time I'm seeing someone talking about Sarah Alma as there are lot of testimonies about her, do you know her ? if yes , did you invest with her?
@@BeverlyTalley How do i get started? how do i get in touch with her?
They need to deport. Close the BOARDERS!
Stop blaming immigrants for problems. They are used as pawns by Florida and Texas to hurt cities. They are human beings and deserve to be treated with respect. Income inequality is the problem in big cities.. no longer affordable in all major cities
Y'all are thinking about this all wrong. We don't need 500k more apartments. We need 500k people to leave new york for objectively better places to live for wayyyy cheaper.
even if the 500k apartment is built right now, the housing crisis will never end. More housing means more people coming. Crazy people want live in big cities. It is the same as traffic, more lanes or highway do not make congestion less, it only makes for traveling and more traffic problem.
I’m not judging but if you can’t afford to live somewhere, moving somewhere cheaper is probably a good idea… I don’t know why anyone would pay 5k+ a month to live there lol, you could have a condo in Waikiki with ocean views for for less and the air doesn’t smell bad 😂 to each their own though.
The worse is that NYorkers are importing their unaffordable home style to Miami, they created a crisis in Miami with shady ways, usually a rent was on $1500 they came and ran over the people and offered $2900 for the same apt, of course the realtors and owners accepted those offers, them continued with the same, the next group of NYorkers did the same those properties listed on $2900, they offered $4900 and continued, now the prices on Miami are from $2000 studios to $9000 for two and theee beds, and that’s thanks to NYorkers who imported their misery every place they move
I think there is to many empty buildings. Part of the solution should be to renovate all the empty buildings and houses that we have in NYC. The government should see if there is any property that is abandoned and help the owners to fix so they could rent those properties.
Checked out Hell's Kitchen during the 2021 rent "dip" you described, but even then what I got for the rents were silly, so opted out. To think if I had gone ahead with a place I would have been priced out within a year anyway makes me glad I stayed in my studio in Queens, where everything is a good 1/3 cheaper, and human scale. What was I thinking?
Hell's Hellhole 😈. Smartest choice you could have made 💯
RENT CONTROL has destroyed rental housing! Many thousands of large apartment buildings are vacant because rent control has made low income housing impossible for landlords to maintain. They cant even break even, so these thousands of buildings are boarded up and abandoned.
As an outsider my question is, why are so many people being sent to New York? America is a big place.
how about we tax 20% the landlords for the thousands of vacant apartments they hold because they don't want to lower the rent prices .
Very informative cash. As a New Yorker myself my whole life, I’ve been schooled. Thank you.
Hi Cash
This was very informative
I live in Orange County NY and I been thinking of moving back to NYC to be closer to my family
Now I’m not so sure
My city has turned into a mess!
Please make more of these videos about the current state NYC is in
Your a great reporter Cash!
Thanks God bless
I would not live in NYC under any circumstances , it is stinky , crazy , overpriced and without thousands of cops on streets , that would be a mess . If you cannot afford to live there, go somewhere else , no subsidies , no rental help , these will make things worse at the end. The same with California , where government is trying to help with no results .
No, NYC doesn't need more housing it needs less people. How overdeveloped and overpopulated and polluted do you want this place to be?
How can illegals be given housing and not homeless and vets?? No big deal when vets and disabled were homeless. I'd like to see homeless and vets stand in line for their fair share!!😢
It’s the same here in the U.K. we are all heading for a brutal collapse I think it’s going to happen start of next year
Here I am feeling like I'm wasting away in a small town owning my home and land. Being thankful for what I've got.
Greedy landlords in every major city in the US have tripled rents in the last 15 years and wages haven't kept pace, just like big pharm, gas companies, and health insurance companies greed, greed, greed, no accountability
Good point about the sewage and the pipes under ground. I feel like that is a forgotten factor/variable when the housing subject is brought up most of the time
Things here in Austin, TX are similarly trying. Our rental market over the past 5 years has become extremely competitive; rent went up $450 a month at our last renewal. If we wanted to buy, the interest rates are over 5% even with an excellent credit score and 20% down. It's frustrating... and I don't know of many people that are receiving 20% pay increases at work... that being said, I still want to move to NYC, so when that day comes I'll be needing an amazing agent. :)
I can concur on Austin. My roommate lived there for 10 years in an apartment that was called a one bedroom but he said the bedroom barely held his bed. There wasn't enough room along the sides to get into it, he had to climb over the foot of the bed to get into it. His rent was $450. a month. We looked online a few months ago to see what it was renting for, and it was for sale for $285,000!
OMGosh @@theoriginalbridgetconnors - that's crazy! And still someone I'm sure will gladly hand over the $$ for his place, especially if the location is good. It's becoming difficult to find a decent place with a decent landlord here... I'm lucky my current house and landlord have been AMAZING!! But I'm paying for it! LOL
If our President would do his damn job and tighten border security, it would help!!
We need new people. Too bad for racists that they're brown. 😂
BIDEN IS FOREVER SLEEPING
Take heart bc Long Island is building 500,000 unaffordable apts all over the two counties. $1900 for a studio.
How about take care of Americans and not illegals!
Get the people needing apartments to be the laborers on their own apartments. Those 800,000 would work real hard.
The answer lies in… New Jersey! The entire west side of Manhattan is New Jersey anyways. Jersey city is more NYC than staten island realistically. Suck up your pride and extend the subways into Jersey city, Hoboken, Newark and build up there… commuting from parts of Newark is the same distance as parts of queens and the Bronx. Build a partnership with the real 6th borough…
It is happening in many place. Thanks for reporting. May more people be aware.
Looked at a potential job earlier today and, as I always do with regards to NYC area, mapped the office and checked Zillow rentals just to see if it would be at all possible given the salary quoted
The answer is a resounding hell nope, even if I lived in union city 🙄 and that was by no means reasonably priced either for new freakin jersey 😤
No way, an island where space is limited and everyone wants to be is expensive?
Shocking
God Bless NYC, hopefully collaboration and connection helps resolve the issues/challenges
Let builders build! Enough of the restrictive zoning and regulations. We need to get honest about this problem and work on adding to the supply of homes
That city is literally an overpriced DUMP and they rape you in income taxes. Why anyone in their right mind would actually choose to live there is completely and totally beyond me. My company is based in NYC but I, like everyone else works fully remotely now. Why would anyone live in NYC to spend 50% or more of their income for a tiny shoe box when they can live somewhere much nicer for 1/3 the cost? I don’t get it on any level.
Meanwhile people are being bussed in by the 1000s a day..smdh
Love Texas 😘
THIS IS NOT SUSTAINABLE AT ALL!!