Yet another weird SF fan

I'm a mathematician, a libertarian, and a science-fiction fan. Common sense? What's that?

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Yet another weird SF fan

Saturday, December 29, 2012

Does This Mean I'm Poor?

The Wall Street Journal reports on a Manhattan real-estate deal:

Hotelier Ian Schrager and investors including developer Steve Witkoff last week paid about $50 million for a piece of land at 215 Chrystie St. that served for years as a garden for a neighboring building with low-income residents, the executives said.
In case, you wondered what “low-income” meant:
Much of the rent at 10 Stanton St. is covered by the federal government, which now pays up to $3,810 a month for a three-bedroom apartment for tenants who cannot afford it.
Your tax dollars at work.

I have something in common with those tenants; I couldn't afford $3810 per month either.


Anonymous Anonymous said...

Good news. The government does not pay that for anybody.

A $3810 3-bedroom apartment would cost the section 8 family $1,725 plus 30% of their income if they somehow got it.

But, it wouldn't even be possible for a section 8 applicant to get that apartment because "In no event, however, shall a tenant be allowed an initial lease for an apartment that would require them to pay in excess of 40% of their income." and (30% + $1725) is greater than 40% for any qualifying family of that size.

You've wasted everyone's time.

8:45 PM  
Blogger Joseph said...

So it's an anonymous commenter vs. The Wall Street Journal...

I'd say it's even money.

9:45 PM  

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