SolitaryMarmot t1_iw1eq7u wrote on November 12, 2022 at 4:52 AM

Reply to comment by movingtobay2019 in New York City Is Failing Tenants. So They’re Getting Organized by ethnt

What makes you think the asset wouldn't appreciate. I mean...there's a years long waiting list to buy places in Penn South and the Mitchell Lama buildings

movingtobay2019 t1_iw1eyys wrote on November 12, 2022 at 4:54 AM

Because I am responding to someone who thinks an asset can both create wealth and be affordable. The only way an asset can be affordable is for it to not appreciate.

If you want homes to be affordable, you can't have a system that treats it as an asset that goes up in value.