More than 13K rent-stabilized units in NYC are sitting empty for multiple years, report finds
gothamist.com
A city Independent Budget Office report examines vacancy data from the state’s housing agency amid concerns of "warehousing."

cross-posted from: https://lemmy.crimedad.work/post/12162

Why? Because apparently they need some more incentive to keep units occupied. Also, even though a property might be vacant, there’s still imputed rental income there. Its owner is just receiving it in the form of enjoying the unit for himself instead of receiving an actual rent check from a tenant. That imputed rent ought to be taxed like any other income.

  • Olgratin_Magmatoe@startrek.websiteEnglish
    1·
    10 months ago

    Food is also a basic human need, and markets seem to work well-enough for that

    That’s because it is easy to compete to sell food. Housing doesn’t work that way.

    cities have been underbuilding housing for decades

    It’s not just cities, but I otherwise agree.

    • BraveSirZaphod@kbin.social
      1·
      10 months ago

      That’s because it is easy to compete to sell food. Housing doesn’t work that way.

      Agreed, but there’s a lot that could be done to make it much much easier. For nearly a century, housing policy has been explicitly designed to make housing a productive asset for investment, which is a goal that’s fundamentally opposed to housing being affordable.