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Developers say New York is an increasingly inhospitable place to build housing.

Discussion in 'Economy' started by ethics, Aug 11, 2014.

  1. ethics

    ethics Pomp-Dumpster Staff Member

    Gosh, really???? I can't believe that!

    Unions, baby, unions of all flavors and colors are here to mooch as much as they can. Look how long it took (TAKING still) to build "Freedom Tower". But this is apartment buildings, no museums, no history, no families to deal with.

    [​IMG]

    http://online.wsj.com/articles/residential-construction-in-new-york-city-lags-1407720062
     
  2. Sierra Mike

    Sierra Mike The Dude Abides Staff Member

    Yeah, and most of the units being built are in the $5,000,000 range.
     
  3. Biker

    Biker Administrator Staff Member

    Considering the cost of putting a building like that up (including the graft and corruption payments), is it any wonder that there's a reluctance to build for low/middle income families? The rent needed to pay off the investment automatically puts such construction on the "What the hell are you smoking?!" list.
     
  4. Sierra Mike

    Sierra Mike The Dude Abides Staff Member

    Not necessarily--tons of tax rebates and the like go into such a deal.
     

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