How Rich New Yorkers Are WORSENING Housing Crisis

The housing inventory is low for the working class in the NYC, but there's nothing prohibiting wealthy New Yorkers from combining units. Ana Kasparian and John Iadarola discuss on The Young Turks.
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"The Big Apple is notorious for its cramped and costly apartments, but some residents are getting that needed space in ways that could be worsening the city’s housing crunch.
About 50,000 multi-family row houses have been converted into one- or two-family homes since 1950, according to an 2023 analysis of building records in New York City published by Columbia University."
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231122__TB03_Rich_New_Yorkers_v2

[@dallasdandigitalproduction393]

Anas correct about the foreign investors problem. There are great documentaries about how sky scraper buildings stand half empty . They buy the building space and either don't develop or sit on the apartments they have. It's disgusting.

[@davidhunternyc1]

In NYC, there is plenty of housing available. The problem is that it's all luxury housing that's available. Multimillion dollar apartments sit empty, owned as tax shelters by oligarchs and crooks around the world. Every single new apartment building is built for people with money. To quality for "affordable housing" you must make $80,000 a year. Anything less and you're sh*t out of luck.

[@richiejohnson]

If you choose to live in NY this is a consequence of that choice. This is not a matter of life and death, so let the market find its own level. I'm a flaming liberal, but I think rent control is criminal.

[@SinewRending]

*Sounds about white!*

[@danielmollohan1703]

I think you meant “barely liberal”?

[@richiejohnson]

@danielmollohan1703 Many people put their nest eggs into rental properties, because it gives better returns than financial investments. And one day, the government says, "Your tenants can postpone paying you." Rentals incur expenses just to maintain. Have you considered that? Maybe I should say I'm a social liberal.

[@SinewRending]

@@richiejohnson *Maybe you should hush.*

[@richiejohnson]

@@SinewRending Maybe you should make a case for your position, or maybe you should shut T F **

[@cindyhammack68]

Air BNB, VRBO, and the like are a big part of the housing crisis as well.

[@Russellviews]

One of Americas biggest problems is how much we spend on defense. The U.S. spends about 877 billion a year on defense spending. This is MORE than China, Russia, India, Saudi Arabia, U.K., Germany, France, South Korea, Japan, Ukraine COMBINED. THAT is the problem. THIS is why other nations have cheaper health care and housing. Because we have to borrow to keep up we pay 1 billion in interest per DAY on our debt. Sadly, Dems and Repub voters would sooner see the nation fail than unite to fix this so get used to it. Things will not improve.

[@LHS427]

I know of a wealthy family in the upper west side who owned a unit in a co-op. The unit next to theirs went up for sale. They purchased the neighboring unit, broke down the walls, and turned theirs into one massive unit. How big is the family? Just a family of 4 - 2 adults and 2 children.

[@jackkanoff6265]

That sounds like a nice home.

[@LHS427]

@@jackkanoff6265I’ve been there. It actually just looks like two average apartments plopped together

[@user-yy8pb5ro3f]

But I thought New York was so great TYT.

[@santosperez8589]

The rich have most of the lobbying power dark money. curruption is basically legal. Thats why politicians always look for their rich frends and donors interests first.

[@alansmith4734]

Turn Trump Tower into a Section 8 Housing Unit!

[@RobinaB530]

I'm all for that.

[@positiveG]

The government paying for more rents is a bad idea

[@royearl1094]

he would make more dough that way wtf .

[@mariaansley1519]

A lot of the problems are single family zoning and parking minimums. When the city is 50 percent parking lot noone wants to be there. There used to be New Yorks all over the country, then they tore them down and built freeways and parking lots. At any rate, Queens has plenty of room for buildings

[@ReijiMoritsugu]

Solution: build high-speed rail with connecting stations to give people options for travel and establish urban planning goals for future expansion.

[@salsa564]

This 👆

[@tednugent1351]

So sickening, they really want a complete collapse and then they'll cry that they need a bailout.

[@nedsantos1415]

No individual should own more than two residential properties (houses, apartments, etc.), regardless of how wealthy they are. As of now, corporations are hoarding residential properties and jacking up rents. It is a sin and a horror.

[@maniaclatdisciple]

Straight up socialist/ communist idea, dictating what people can do with their money.

[@hunternedib1119]

Three House Bernie?

[@nedsantos1415]

@@hunternedib1119 That applies to Bernie, too. If his name is also on the deed of the third house inherited by his wife from his father-in-law, he should not own it, either. Any more questions?

[@nedsantos1415]

@@maniaclatdisciple You think your God of Capitalism doesn't dictate what you can or cannot do with your money?

[@hunternedib1119]

@@nedsantos1415 Yes! Are you broke?

[@jawant6039]

Privileged, aka, "works harder than me, makes more than me, so thus they are "privileged""

[@salsa564]

That is a ridiculous perspective on how our economy works

[@nathanielsingleton6302]

The rent is too damn high. If you can’t afford it you can’t afford it. It doesn’t matter how many are on the market for rent or not.

[@truthteller88]

They are knocking down all of the middle class apartments in the bumper East Side and building multi million dollar buildings. The apartments are sold before they are completed. Each block has at least one tower. Most of these people don’t even live in these apartments full time. There residency is elsewhere.

[@DeathDealerX07]

I'm from NY. Many apartments here are tiny. I'm not surprised many people buy the apartment adjacent to them. It becomes an actual liveable space.

[@origamikami3486]

But then it takes away an apartment for another family.

[@Bramble451]

I think zoning laws, and the benefits of landlords sitting on unoccupied units, is a bigger problem than the combination of row houses.

[@momobobo123]

Agree. Banking system unchecked. It’s foolish. I just learned about Denmark’s banking system for housing. Imagine a government working for the people!!? How about that?

[@adamcalhoun6683]

I’ve always been confused. Do people in NY just call everything an apartment because where I live apartments are rentals and condos you buy.

[@jthomasmack]

No we have ownable condos here but not all apartments are condo. You wouldn't call a one bedroom in a 120 year old brownstone a "condo" But you might a one bedroom in a brand new, modern, minimal high rise

[@taylorphoenix8]

Anna makes an excellent point, because in America we don’t accept limitations on almost anything, but this is actually something I’ve been thinking about for a while as well. Eventually, American cities will have to accept caps on population. They will have to address that they are at peak capacity, and cannot comfortably or safely accommodate more people, and it will become illegal to house more people, or penalized in someway. I don’t usually advocate for increased state authority, but this is one of those issues where you have to face reality. Exactly how many people can safely and effectively live stacked on top of one another? We need to explore the possibility of building new American cities with intentional design, and not Free Market happen-such and randomness.

[@rapalbumdepot7648]

Due to the influence of the car industry any new cities built would likely resemble the ugliest parts of Los Angeles where both public transportation and walking aren't an option.

[@Anuchan]

Are you advocating policies against ugly cities?

[@rapalbumdepot7648]

@@Anuchan I am referring to ugliness of proper city planning- or lack thereof. I didnt realize I was advocating for anything besides adding nuance to what the lovely Anna proposed AKA build more cities. I personally love cities- so therefore my only real problem with cities is when they get in their own way with NIMBYism and and racism and other measures that hurt prosperity. A good example of bad city policy is this reactionary and incoherent homeless-crime-hysteria which makes my skin crawl, honestly.

[@Anuchan]

@@rapalbumdepot7648 1. The ugliness in many cities is the result of construction companies tearing down all trees for their convenience. 2. I find the mob theft trend to be frightening. Also gun carry laws are increasing, not decreasing crime.

[@rapalbumdepot7648]

@@Anuchan Once again you are referring to solely the aesthetic ugliness which makes me believe you don't understand what I wrote

[@craighalpin896]

That's just fine, build

[@dribrom]

The main reason for the housing crisis is because people see housing as an investment. Houses is one of the things that decay but increases in value no matter how decayed it is. For most of human history buying or building a house was seen as a cost not an investment.

[@brentmcwilliams4332]

That conversation is definitely happening in Hawaii, mainly surrounding vacation rentals depleting the housing market. 🤙

[@Thessalonians22-kg8pf]

There are no rich New Yorkers.... those people weren't brought up in New York. Settlers.... Is the word

[@DA-BROWN-STOIC]

I would do the same thing honestly

[@SinewRending]

*But you won't, 'cause you can't. So stop fantasizing. You're not going to get in the club. Okay? Accept it.*

[@polorthebear]

I can actually answer Anna’s question it’s because that property is more valuable so they profit more than building a house middle of nowhere

[@Ghostwriter78]

This is true!

[@magicspider8]

Can you talk about congestion pricing in NYC? I feel like adding such fees makes it feel like if you do ok and have a car in the city, it punishes you. If the public transportation were decent, I wouldn’t mind.

[@Anuchan]

Doesn't NY have one of the best public transport systems in the country? I wouldn't know since I live in the Midwest where everyone drives their own vehicle.

[@sogobo]

@@Anuchan Yes we do; and an attitude like @magicspider8 has drives me mad! There is no need for anyone to have a personal car in NYC, especially higher density areas - all of Manhattan, northern and downtown Brooklyn and most of the Bronx. The negative percussions from driving are manifold: increased congestion - which ironically - negatively impacts our best transit system by delaying and slowing bus transit which leads to negative perceptions of the system; shall we talk about carbon emissions also? One reason people move to New York is because you DON'T need a car to get around! Oh, and there's also the added health benefit from something called walking.

[@NotBen101]

I think the real problem is rent stabilized units that are off the market and need renovation.

[@MWhaleK]

That is part of it.

[@snapgab]

It's genuinely hard to name an issue that isn't caused or made worse by rich people/the owner-class.

[@seth_sesu]

Anna, please interview @notjustbikes or @citynerd for an informed take on urban planning issues / density.

[@hunternedib1119]

Open borbers help the Housing Crisis.

[@SinewRending]

*Hush, buffoon. You cannot even spell.*

[@Anuchan]

Yes! We should keep our borbers closed. Be decent!

[@leonidas14775]

When you have a hundred thousand vacant units, that means property taxes are far too low. It could be a progressive tax though where the most expensive units are taxes a higher percentage.

[@jim2498]

Then going ahead a rise property tax that way more people can't afford property

[@Duude125]

It’s funny when the uninformed open their mouths.

[@leonidas14775]

@@jim2498 So you want people to afford holding a bunch of vacant properties?

[@user-eo7zf8se8d]

i think the solution is a radical change in how we view real state,and massive changes to laws and regulations regarding housing in general, let me give you a few examples off the top of my head that would solve/ease the problem in decades to come! 1-no one can buy more than one unit of housing per state, city, or at least in some circumstances per neighborhood and if any one has more than 1, they should sell immediately, this would also lower the cost since a lot of houses would be available asap 2-if you want to demolish/rebuild a realstate, you should at least add an additional unit to the original house, for example if you destroy an apartment with 8 units to rebuild, it should at least be 9 units, or if it's a large house, it should be two medium houses now,or a large house with two separate floors/units 3-buildings that are too old, and deemed dangerous or hazardous for the neighborhood, should be demolished and rebuild by the government using tax money, and it's residents should be housed in new units,this way you can also add 10/20 more units and the money spent on rebuilding will be regained as well 4- poor people who can't afford living in those cities anyways,offer them loans and benefits, if they agree to leave large cities and go live in nearby cities. 5- if someone has an empty house or apartment just sitting there ,maybe they left for the countryside and keeping that house as part of their heritage or as a memento of their youth in the city but it's now empty and no one lives there,you can't do that! unless you pay additional taxes for that. 6- government should build a bunch of houses, maybe a 1000 units or so, but instead of selling or renting, rent them for life! it means a family can pay maybe 1/5 or 1/10 of the actual price,and live there until the person who signed the lease dies, and then evacuate and the next family can rent that house or apartment. this way housing would be a lot more affordable,and people can't demolish,change or combine their housing units. 7-it's somewhat more radical than the rest of the list, but i think it's also more powerful, wealthy businesses such as banks, or multi-billion dollar industries, must provide their employees with a housing unit,preferably nearby/ right next to/under or over the actual building of that business. this way not only housing is fixed, there will be less traffic also

[@MWhaleK]

Part of the problem is rich people who own places in NYC but hardly even visit them.

[@jfree2737]

Supply and demand. People need to stop believing the marketing of NYC and stop killing themselves just to say they live there. Once people find other places to want to live and work, the housing "crisis" in the city will be solved. People need to also not be lemmings and all migrate to the same area. Disperse and find your own new places, not just all flock to another area en masse because of a article online!

[@SinewRending]

*Hush.*

[@SinewRending]

*Hush.*

[@jfree2737]

@@SinewRending Dude, I'm gonna say it louder for the people in the CITY!!! 😂

[@SinewRending]

@@jfree2737 *Doubling down on this just makes you look and sound silly, mate.*

[@jfree2737]

@@SinewRending It's the truth. Look what happened during the pandemic. People said "to heck with this place," and left. Magically rents dropped because less people wanted the crap that landlords and the city itself were trying to sell them. Yeah, a lot of movies were filmed there and there's stuff to do (if you can afford it after paying thousands a month to share a space with four other people); but the overcrowding, cost of living, and other quality of life issues just isn't worth being able to say "I'm a New Yorker!" A lot of that is prestige associated with marketing campaigns that have been running for decades through written, visual, and musical mediums. There's only a handful of jobs that can only be done in NYC. Manpower is one of the only instances where the rain follows the plow.

[@aliadeeb6859]

Tokyo is doing it right They built more housing units in a single year then all of the United States did in that same year which I forget what year that is. I could find it if anyone's interested. Ana! There are 37,000 plus buildings in New York City that are designated as historical and cannot be repurposed as housing. We don't need regulations to protect existing housing so much as we need to repeal regulations that prevent new housing. Regulations that protect tenants such as rent control and stabilization also restrict the supply high rents will follow these regs wherever they go.

[@chriscollins1525]

Overly restrictive rent controls are a time bomb for cities. Many small landlords who want to add units (ADUs) are discouraged by the threat of city council rent restrictions that make it impossible to pay back an investment. So, what happens? I refuse to build and rent.

[@aliadeeb6859]

@@chriscollins1525 now we just need to get Ana Kasparian and Cenk Uyger on board

[@DoobieFlex]

Here goes my daily TYT Essay 😂😂😂 Tl:Dr Ana is right we need more housing built (and there is space for it just not much left that isn’t promised to contractors for useless projects) but the more insidious part of this is the thousands of vacant units that are deliberately being kept off the market through either unlisting them or making them cost way more than they’re worth in the hope that some rich fail son will get suckered into a lease. ------------------ As a New Yorker born and raised I can tell you with almost 100% CERTAINTY the housing crisis in New York is manufactured! To be clear I’m saying that major landlords (like Douglas Elleman, black stone, Colombia, etc) are colluding to keep rents high. So much so that many of the apartment complexes are relatively empty when you look at available units. It’s common place in my community to say that low income communities are systematically being pushed out farther and farther out of the city (Manhattan, Dumbo, Grand Concourse, and LIC) My family is from Alphabet City (Lower east side of Manhattan.) almost everyone not in public housing has been pushed out, anyone remaining is struggling to stay in their communities to the detriment of themselves. I had to move to Harlem hoping to at least stay in manhattan’s but my rent has gone up to almost $3000 a month. My apartment is pretty small and cramped but compared to what most people have to deal with (A lot of single people or single parent with 1 kid end up having to rent single rooms) I’d say I’m doing pretty good. None of that would be possible at all and I’d probably be living with whatever family had the space of it wasn’t for my wife and her family who is relatively successful. Because of them we were able to get a guarantor on our lease otherwise we wouldn’t have qualified. In New York to qualify for an apartment you usually need to be making at least double a years rent, have a high credit score, and be prepared to have a first and last month ready, and none of that includes fees. Because of this most people don’t even qualify for apartments they can afford that fit their needs (families forced into studios and 1 bedrooms, singles usually rooming together with at least 2 other people.) In New York building older that the 1940s and that haven’t been majorly renovated since the early 70s are considered “rent stabilized” but there is nothing forcing landlords to rent out those units and nothing that dictates that they keep a low price, only that they can’t raise rents to residents already living there. The city is also sprinkled with “income based” housing. These units are tax incentives given to more expensive building buy making units in their building available for low income residents and the government pays the rest. (Similar to section 8 but local instead of federal) the catch is that these units are far and few and usually put in a raffle for citizens to apply to so they are very rare to get into. When it comes to public housing there’s another huge issue. Here is where the lack of building really comes into play. There hasn’t been new public housing built in decades and it’s a real problem. For reference I applied to public housing going on 6 years ago and I’m still on the waitlist and don’t expect to even be considered for another decade. My mother applied to public housing before I was born (without dozing myself over 20 years ago) and she didn’t even get a response till last year when she had already been living in Florida for 2 years. People wait half there lives to get considered for this! It’s not like there’s a lack of space either they spent a decade tearing down and rebuilding Hudson yard only to make it a multi billion dollar condo complex with a lavish riverside park to bring in more rich residents. This is where our local government shows that they’re more interested in the aesthetics of the city and it’s high profile residents are top priority So Ana is right to say that there should be more units built but that only half the story the government needs to do something to force landlords to make vacant units available at reasonable rates to the population * *incoming New Yorker Rage* * For fuck sake Columbia and NYU have bought out entire neighborhoods! NYU has their own PUBLIC TRANSPORTATION while we’re still getting shafted by the MTA! People see New York as the city of stock brokers and rich assholes who would sell their mother for profit. In a lot of ways it is, but it’s a top down mentality that has cause our communities to cannibalize themselves for survival while these bougie fucks sit in their high rises laughing. We just want to be able to live in our communities! Loisaida (alphabet city/ the lower east side) use to be a multicultural haven where people could live with relative ease and set roots. My family lived there since they immigrated to America. Now after years of gentrification, rent hikes, shady businesses practices like buying entire buildings and evicting everyone has made it unrecognizable from even 15 years ago. People’s roots have been torn. Harlem is the last bastion in Manhattan and it’s only due to its sheer size and even that’s not holding. In 20 years the island is gonna be filled to the brim with rich yuppies and trust fund babies and the only “poor” people you’ll find are living in public housing (if that even last and doesn’t get privatized) and every year it feel less and less like there is anything we can do about it.

[@laashedden1675]

disagree. packing people into existing housing isn’t the answer. new affordable NON-APARTMENT style housing is required

[@hunternedib1119]

When I purchased my first home at 25, I had to live in a town 20 miles from the town I was from simply because I couldn't afford it.

[@govinda102000]

Yep, same 30 years ago but moving a distance from my family had it's benefits. They scolded me for buying a small ranch and now they find themselves stuggling to downsize for the same price as selling their larger homes.

[@hunternedib1119]

@@govinda102000 Where I live in New England, ranches are a hot item for downsizers/older folks (no stairs to climb) They cost 10-20% more per square foot than a two story home.

[@govinda102000]

Exactly that in the Stamford area. where my family is. @@hunternedib1119

[@WoJackHorseman24]

Millennials are the first generation to have a lower quality of life than their parents

[@tlbiebs4832]

Should also highlight how the same rich people leave rent controlled housing empty to drive people into higher cost living

[@outlawgonzalez6471]

There doing it in Cape cod ma 900sq ft ranch $400,000 now

[@diananovak8029]

I own on cape cod. What’s going on??

[@hunternedib1119]

I paid 350 for my vacation home in Tiverton Ri in 2016 and now it's worth 625k.

[@rochellereilly]

I'm going to say a large portion of the housing market has been lost to Air BnB's. Last year when my landlord raised the rent to three times what I was paying previously, I had to move out of the area. My dad owned two Air BnB's in another state. I asked if I could rent from him and his wife. They said I couldn't because they wouldn't make as much money. I wasn't able to have my kids with where I was able to afford to go. I never missed rent and was a great tenant for several years. I even got back my security deposit and new tenants were able to move in two weeks after we left. My father broke up my family because he was more interested in profits.

[@SinewRending]

*Gross.*

[@ElFlaccoBlanco]

I have seen soooooo many Manhattan tenements being left empty to spite anti-warehousing laws. Then they are all being torn down and replaced with new overpriced construction. New York City SUCKS for many reason. This is just one of the root problems. This crap has been in the works for over 30 years. Developers make all the rules, poor people pay all the prices. NYC is a boring monocultural brutalist hell hole.

[@timeisfluid]

It's really ridiculous that a little family of 3 has to have a 20,000 square feet home. 🤔Whyyyy do people need so much 😢

[@jim2498]

We don't need a lot of things. Like you don't need running water, electric and so on. So the question should be what do you think the government should allow you to have

[@danielmollohan1703]

If people could simply learn how to share and be kind to one and other there would be no one wanting a thing on this planet. The problem is that there should be no such thing as the richest person in the world. The fact that masses of humans want to have and have and have, more and more and more, is, to me, a living horror film more disgusting than any slasher film. This lust for wealth is violence. I know this reads like a nine-year-old wrote it, but our problem is just that simple. We learned how to act when we were 4, but forgot, and there is no one to remind us.

[@mycatsaliberal3848]

People are going to have to move out of the city

[@coryluke12]

Progressives: I have a right to live anywhere I want at any price I want! Economic reality: Nope

[@SinewRending]

*Hush.*

[@SinewRending]

*Hush.*

[@Anuchan]

I think progressives actually say, everyone has a right to work, housing, medical care, and safety.

[@sogobo]

Read some Thomas Locke, my friend, and learn something about 'rights.'

[@coryluke12]

@@sogoboI don’t need your advice on what to read, worm.

[@Youtubedeletes]

SO GLAD TO SEE CONSERVATIVES FIGHTING BACK.

[@Fourtune1]

Lot of small towns have people who are closed minded, not friendly, small business that don’t/can’t pay well compared to a city. There’s some but towns like in Kentucky are not admirable.

[@Anuchan]

Most small towns lose their youth to the cities that pay more, offer more benefits, and have mor opportunities. It's connected to the gradual reduction of Republican voters.

[@djuro14]

Try rent control. That will make people invest in new housing units.

[@jeanprieto720]

The rich get richer and the poor stay poorer 🤬The greedy rich should be ashamed of themselves !

[@hiphopknights]

It's a shame, ain't it?

[@karlbossler9252]

In creasing housing supply is good, but only if you also decrease demand. Here is an (unfinished) reasonable idea to reduce demand: Exponentially increase the purchase price and/or property tax for each additional home beyond the owners primary residence. So you want to have an extra home to rent out or use seasonally, not a big issue it might cost you 5% more. A 3rd home would cost you 25% more, 4th home 125% more, etc.

[@lealmelisa]

This is what George Carlin talked about always having to have more and more, most people don't need that much space. Even if you had the money, wouldn't be more efficient to have a regular size place??

[@brentmcwilliams4332]

The number of homeless in America will triple between 2020 and 2030. So far my prediction is on mark three years in. My question is with all that is happening, how could one not expect that result?

[@biglon2069]

I'm going to push back on one thing that John said in this video and that is that this is the most Ana story they ever done not even close The most Ana story they've ever done is any story about dogs. 😂😂😂

[@badmonkeyking]

Rich people.dont care. Need to be taxed way more. Not able to own more than two homes , when people don't have one. Slum lorder running more in more.

[@Russellviews]

We have one of the the most progressive tax system in the world meaning the "rich" in America pay the most taxes compared to other nations. Taxing them more may just drive them out. I don't think that's the solution.

[@badmonkeyking]

@Russellviews not even close.

[@hunternedib1119]

Broke...

[@hunternedib1119]

@@Russellviews Rich people pay 74% of all taxes in the USA. I love it when a Walmart employee who pays 120 bucks per week in income taxes demands others pay more.

[@ronaldolamont]

There are other reasons to live in major cities other than housing options! Some people like the hustle and bustle and excitement around living in a city like New York, to them that's more important than having a large house or apartment! The art and culture in New York City is amazing, for some people like myself, I prefer the accessibility to all of that, more than I would prefer having a larger apartment with an extra room to do what with, put more stuff in?!! 😂😂 To each his or her own!!

[@1983jcheat]

My family left NYC in the 70s. Right before it turned into Deathwish. You couldn't pay them to return there. South Jersey, Delaware and Florida are better. Money goes much farther and less buffoonery.

[@spinninsessions9626]

Florida is horrible! Property taxes are ridiculous and it's expensive there. Try Again

[@spinninsessions9626]

@southernfried19 Texas and Florida aren't blue states but it doesn't matter because all of America is being robbed by your sorry politicians.

[@1983jcheat]

@spinninsessions9626 Well, so is NJ. Delaware has very low taxes, half what you pay in NJ. The property taxes are higher in Florida, but if people like it, God bless em. I live in Delaware and enjoy the low taxes. Less crime, lower home prices, and less traffic.

[@spinninsessions9626]

@1983jcheat Your not hearing me. Your country who gives welfare to other countries but not to its citizens is ass

[@SURVIVINGANIMALJOHAN]

Probably built cities near by New York BUT with great public massive transportation so if they want to go work there, and invest in the type of working force you have more, specialized it’s hard to change jobs, but is the way have worked, but maybe incentivize the government to agriculture or other things around and facilitating living there.. the thing is the government needs to plan! Not the free crazy market sometimes.

[@athenafisher2048]

Better transportation to the cities people work in from places with space to live.

[@limbiclove9487]

Almost all the new apartment buildings are "luxury" meaning super expensive. We also have a lot of empty commercial buildings yet more are being built. For whom? A lot of people work from home. Again it is the lower middle class and those below it that suffer the most in relation to housing. New York City is not a place to come to right now. The so called "action" sucks. It is not a place to be unless you are rich and only want to party. People used to move here because they were artists or needed to go to school for a specific credential. Now the students come to party. People live here, the tourists come and go.

[@MrJimboberusky]

Ya could've just said that we DO infact begrudge the wealthy who would want to do this. Not only should a law be in place but it should be frowned upon. This is another example of trickledown economics being a myth or fairy tale. Infact it is the opposite. Look I think eat the rich is a last resort. I'm willing to say we ain't man hunting over this. Whats done is done but from here on out u feel me? We used to make progress and now it's about making sure nothing can get done unless you're a private entity/gov

[@coryluke12]

Help! People are doing what they want with their own property 😂😂😂

[@SinewRending]

*Quiet, you.*

[@kod5660]

The areas are not actually big enough to live that is the point..

[@mycatsaliberal3848]

Bottom line is population is going up and no more land is being created. You have to move out of the city if you can’t afford to live there

[@SinewRending]

*Where to, O Wise One?*

[@mycatsaliberal3848]

@@SinewRending well let’s see… anywhere else

[@mycatsaliberal3848]

@@SinewRending your options are north, south, or west. If you go east you’ll need a house boat.

[@mycatsaliberal3848]

@@SinewRending or I guess you could just keep crying that an island isn’t growing as fast as the population is growing. Whatever works for you

[@Anuchan]

Many countries are building artificial cities to relocate when water levels rise. If you build it, they will come.

[@DudeStone]

The housing crisis is REAL yet so few care 😢

[@mikefromvernon]

I agree it's time to do some rethinking of cities and where the jobs are needs a bit of a rethink. Let's say you decide to move some jobs out into the suburbs where there is room to build housing. The current residents will say great solution but NOT in my backyard, pick another suburb. I don't want my view/neighbourhood destroyed by a factory/apartments/town houses.

[@ashwinnarasimhan2729]

With regards to that figure of 100,000 vacant housing units quite a few of the reported vacancies in many cities include units that are being renovated, etc not necessarily housing stock that can be made immediately available to house anybody.

[@krislee5343]

Cities need to incentivize developers to build low income housing. There's no incentive for it.

[@Ghostwriter78]

PRECISLEY!

[@Hardin9]

Low income=garbage housing. What is considered luxury should be STANDARD!

[@rs72098]

Eventually they will have to develop low income housing. U.S. demographics are falling even in NYC. There will be another housing collapse. Falling U.S. demographics is also the reason for our curent labor shortages.

[@Dennisrader-ff9gv]

Those people voted for this. Not my problem.

[@blakecampora9554]

Hey Anna … maybe look outside major cities. Lots of great deals to be had throughout the south.

[@GelgoogJ]

Glad I got out when I did.

[@18661873]

The government should take Ana Kasparian's condominium and give it to the less privileged.

[@evadd2]

So no free market. A dictatorship. Socialism? Get lost, commie face.

[@Caseyisforeverr]

This is irrelevant and probably rude, but it always cracks me up when I see Ana's face all up in the camera. It captures her emotions on the topics perfectly XD

[@danielmollohan1703]

Since there is such a huge problem with commercial real estate being vacant due to covid and more people working from home still, why doesn’t NYC and other similar cities, change zoning laws and use that real estate for housing? Oh, because the rich people who own those buildings would not be able to get quite as rich as they planned. So, those empty building will remain empty while families sleep on the sidewalk. Ironically, those property owners will then complain about people sleeping on the sidewalk in front of their vacant buildings and the city WILL pass laws against sleeping in front of those buildings. It happened here in Las Vegas.

[@ultraversestudios5059]

developing new cities takes trillions of dollars and normal people get paid a low amount to pay for Ubers to go back to work, there will be 50 government officials showing up with a law, bill, or something to stop us from building something for the community or ourselves. buying a house is almost a billion dollars now and land is half that but will restrictions. we can out better just buying an abandoned building and fixing it up.

[@sherrybelle8004]

Well we need to work on other countries before we worry about who has a place to live here in America.

[@Orko99900]

How many square feet is Ana's home? I'm sure that it's big enough to split into two or three living spaces for families in need!

[@darkdan3379]

You're saying what exactly?

[@SinewRending]

@@darkdan3379 *Nothing. He's engaging in whataboutism.*

[@noigelskram2435]

​@@SinewRendingwhen the left's hypocrisy is called out, it's a whataboutism. You must be level 5 safe space certified.

[@Orko99900]

@@darkdan3379 That she's occupying too much space and contributing to the housing crisis. Not too bright, are you?

[@LHS427]

Ana lives in a modest condo that she spent years saving up for. How big is your house? I’m sure larger than Ana’s

[@Jezballz]

The smart ones are leaving the dump that is now NYC.

[@richardotier6820]

The real issue is the continued focus on NYC as a super city fir state economic growth. The state needs to limit the workforce in NYC that matches what resident income levels it can support. Yes, new cities in whole need to be developed to carry infrastructure into suburbs and rural areas, building new housing

[@rickmartin9420]

According to Michael Bloomberg, living in NYC is a luxury item. So if you are not wealthy, why are you living in NYC? Move elsewhere.

[@CanadianSmoke]

Toronto is getting that way also.

[@cindyesporlas]

So where will all the service workers that a city like New York City needs to run, live?

[@SinewRending]

@@cindyesporlas *If San Francisco is any indication, service workers and other people with modest/average incomes will eventually stop commuting hours each way to work. When people get squeezed out of the cities in which they work, they eventually come to the realization that it's just worth to pay in time what you lose in money.*

[@cindyesporlas]

@@SinewRendingHow far away from the city should these people live? Considering the way public transport is in the US, it is available in city centers, but in the outskirts where housing is relatively affordable for them, I assume they'll need to shell out for a car and daily fuel, no? Or they all could ride a bike to work I guess.

[@rickmartin9420]

@@cindyesporlas This is another non-problem that the market will automatically work out. If wealthy New Yorkers want service workers then they can pay $50 for a cup of coffee or they can utilize immigrant labor. Immigrants are willing to tolerate housing conditions no American would. They'll work 80 hours a week and live in an apartment with 20 other people all while smiling about it.

[@allymoy]

Some portion of this is only semi-wealthy people combining 2 units. Most units are only studio up to 2 bedroom. A lot of people struggle for space even when they own a 1m+ apartment (high wages + high COL). They'll only have something like a 1 bedroom and if they have kids people end up converting closets to nursery's and putting murphy beds in their living rooms or multiple kids all share a room if they have a second bedroom. I'm sure there are ultra-wealthy people buying up whole buildings but this issue and need actually goes pretty far down the ladder to relatively regular families. Unused space is a much bigger issue (empty commercial units, pied-a-terres, vacant luxury units).

[@johndefalque5061]

Sure but often micro apts. aren't alloed by law-it is the same everywhere either you can afford too much home or none at all.

[@diananovak8029]

Cities grow around industries. Growing up in Queens NY many of my friends went to work on Wall Street at entry level low paid jobs. As Wall Street becomes decentralized other areas will grow.

[@MyassesDragon]

70 years? 100,000 homes? 8,000,000 New Yorkers? Insignificant.

[@positiveG]

Completely agree with restrictions on Private Equity

[@coryluke12]

If you have a retirement account, you’re a private equity investor.

[@SinewRending]

@@coryluke12 *You're conflating.*

[@darrenkawaii]

Ana- you live in LA

[@LostChildOfTime]

LA is not nearly as densely populated as NYC. Have you even been to LA and NYC?

[@gordonwallin2368]

Good luck down there. Cheers from the Pacific West Coast of Canada.

[@mora103]

It's not just NEW YORK 🫣

[@catdragon3410]

Don't agree your money your home

[@xwiry]

So by my best understanding, New York has been heavily developed with multiple sources of infrastructure that brings in outside money (Corp HQ, banks, universities, govt buildings) that each support a town’s worth of commercial businesses. The high density of these things requires housing for people who administer them, work them, and maintain them, as well as the same for the city itself, the businesses that support all of those people, and the missing portion of real estate they call a port. Now they can’t get rid of any of it without significant expense and killing swathes of businesses. Realistically, this was just a horrible place to put a giant bank when the city was first being developed.

[@amandaj2892]

📣looking good, You two!

[@smartminimalist]

Coming from a small city/town, spending my entire youth dreaming of living in a large city- no way I’d go back or move to a smaller city. I worked way to hard to leave that other place. 😂 No cat cafe or fancy grocery story can change that.

[@BluesFishRico]

We have similar issues in Austin Tx.

[@Anakhasacock]

😂get a job,and it wouldn't be a problem.

[@brentmcwilliams4332]

​@@AnakhasacockIf only that were still true.

[@dankafuba]

U can buy silicone sripes to cover the gap between the hanging cabinets try to march the color of the wall not the cabinets itself. I see Ana becoming a capenter

[@NNight-uh3kt]

Celebs and rich people do this in LA all the time. I don't know if it's the same because they are buying the multimillion dollar house next door and turning it into a multi house compound or tearing it down to have more land overall.

[@crazywithak790]

🤔 this sounds like the opposite of Florida housing criso, as in they have plenty of houses (and keep building) but no one can afford it.

[@Aashka_The_Mystic]

We need to start moving out of big cities. If people can work full time remote, then they should, this way were don't all need to be packed into huge cities where we can't afford housing

[@bigbird2100]

Great video 👍 The point is you either build more or make rent control's and stop letting the rich play the system for financial gain.

[@Taj-Mahal]

I think it's cool that these homes are being restored to their former glory.