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In New York City, Workers With Full Time Jobs Are Living In Homeless Shelters

Tyler Durden's picture




 

Submitted by Mike Krieger via Liberty Blitzkrieg blog,

Puleo added he has “never seen” the homeless situation this bad.

 

Dilcy Benn, president of the union’s Local 1505, said more than 100 of the 1,000 parks workers she represents are living in shelters and at least another four, including Torres, are living on the streets on Staten Island and The Bronx.

 

– From the Market Watch article: Hundreds of Full-Time New York City Workers are Homeless

One of the main data points that pundits and politicians who claim there is an “economy recovery” point to is jobs created. Please tell me, what good is a job if it can’t earn you a roof over your head?

Welcome to the Oligarch Recovery.

 

From Market Watch:

Angelo Torres punches in to work at 5 a.m. each weekday and spends the next eight hours cleaning up debris on Staten Island’s Midland Beach.

 

It’s a grueling job, says the veteran Parks Department maintenance worker, but also a welcome escape from the uncertainty of living on the streets as one of the city’s more than 300 full-time workers who are homeless.

“I cry every night thinking this isn’t really happening, but it is,” Torres, 45, told The Post.

 

Torres earns $33,662 a year but says it’s not enough to find four walls and a roof to call his own in a city where, according to StreetEasy, the median rent is $2,690 a month. 

 

So he has spent the past four months living out of his beat-up 2001 Chevy Blazer with tinted windows. He has two small bags of belongings to his name.

 

“Everyone’s like, ‘Take a shower and wash your clothes!’ They don’t know what is going on. It hurts a lot. I work for the city. I never thought this would happen to me,” he said.

 

“A city job was always the gateway out of poverty,” said Joseph Puleo, president of Local 983 of District Council 37, which represents 3,000 blue-collar city workers.

 

“You knew you had a pension, a good job and didn’t have to worry, but those days are gone,” he said.

 

Puleo added he has “never seen” the homeless situation this bad.

 

Some full-time workers in DC 37 — whose locals represent a total of 121,000 city workers — earn just $24,000 a year.

 

Dilcy Benn, president of the union’s Local 1505, said more than 100 of the 1,000 parks workers she represents are living in shelters and at least another four, including Torres, are living on the streets on Staten Island and The Bronx.

 

It was unclear how many members were homeless before they began working for the city. The city’s Department of Homeless Services refused to comment.

 

Sokunbi Olufemi, of Communications Workers of America Local 1182, which represents 1,800 city traffic and sanitation enforcement agents, places much of the blame on de Blasio.

 

“Our mayor is traveling all over the world and most states in America talking about payment equality, but he hasn’t fixed the roof in his own house,” Olufemi said. “His roof is leaking, and he refuses to fix it.”

That’s how city employees are treated in the one place that benefited more than any other from the taxpayer bailout of Wall Street. At least financial service industry bonuses were saved.

 

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Tue, 09/22/2015 - 21:51 | 6582288 wendigo
wendigo's picture

I wouldn't willingly live in NYC, not for 10 million dollars. 

Tue, 09/22/2015 - 22:18 | 6582403 wolfnipplechips
wolfnipplechips's picture

You still couldn't afford it.

Tue, 09/22/2015 - 22:56 | 6582498 Tom Servo
Tom Servo's picture

I'm confused, he lives in a Blazer, and makes $647 a week (before taxes and dues), assuming a rough 40% tax rate because he's an idiot that doesn't understand how to fill out a W2, he takes home $388 a week.  what is he spending his money on?!  meth, mcdonalds, a cell phone with a data plan and wild turkey?

 

Tue, 09/22/2015 - 23:09 | 6582540 umdesch4
umdesch4's picture

Right, and your math skills need work. If you assume that's what he makes, and any place within, let's say 25 miles of where he works costs at minimum $1500/month in rent (well below the $2690 median stated in the article), then he could live off $52/month somehow. He probably uses some of his paltry earnings to rent a cheap motel room every few days, so he can shower and all that.

Tue, 09/22/2015 - 23:19 | 6582566 JungleCat
JungleCat's picture

Richard II of England, speaking after striking down the 1381 Wat Tyler peasant rebellion:

Serfs ye were, and serfs ye are still. You will remain in bondage, not as before, but under conditions incomparably harsher.

Tue, 09/22/2015 - 23:31 | 6582584 Tom Servo
Tom Servo's picture

All he needs to do is join a local fitness club ($15 a month) for their shower facilities, and do his laundry at a laundromat, save his money for a few months and GTFO of NYC in his Blazer and find a new job.  Wonder if he smokes cigarettes... lol

 

Tue, 09/22/2015 - 23:37 | 6582601 Stuck on Zero
Stuck on Zero's picture

There are always bedrooms to rent for $500/month if you're decent.  If you're a pig no-one will share a place with you.  As a student I lived pretty well with ridiculously low budgets.

Wed, 09/23/2015 - 07:00 | 6582983 Jack Oliver
Jack Oliver's picture

Sure you can 'EXIST' !! That's what the homeless do - Most people want to 'LIVE' though and 'PROGRESS' in their LIVES !

Wed, 09/23/2015 - 09:10 | 6583256 NihilistZero
NihilistZero's picture

@Tom Servo

You nailed it bro. I have total sympathy for the fact that metro residents rents are getting boned on rent through the FED's inflationary policies. Never the less quit being a fucking victim! If all the low income residents of NY gave that city the middle finger and GTFO, the city and the oligarchs would HAVE to pay higher wages to get people to commute in and do those jobs. Then again this is yet another example of why unfettered immigration is such a nightmare. Hard to negotiate when there's a peasant Mexican ready to slave away in your stead...

Tue, 09/22/2015 - 23:35 | 6582593 adr
adr's picture

If you are single and make $32k, you aren't eligible for any assistance. Not rent, power, food, or heat. You can't file for EIC either. Oh and don't get sick because you don't qualify for medicaid.

After taxes you take in around $2200 a month. I made $34k fifteen years ago and I can assure you I know how to fill out a W2. If rent is $1700 for a shithole NYC studio apartment not much bigger than a decent SUV, you might have $500 left to live on for the whole month. If you have a car you are going to pay at least $200 a month to park it in a lot that will probably leave your car without wheels every night. If you have an apartment you will need to pay for utilities. Even going light you are looking at $100 a month.

Best case scenario, you've got $200 a month for food and whatever else you want to buy. Maybe $400 if you don't have a car. A single person can get away with $10 a day on food. Still that is $300+ and you don't really have it.

You are making $32k a year but living worse than 95% of the useless eaters on welfare not lifting a finger every day.

Taking a pay cut to $17k can net you close to $40k in benefits. The least being medicaid and rental assistance.

WELCOME TO FUCKING AMERICA WHERE WORK FOR THE 99% IS PUNISHMENT AND A PATH TO BEING RAPED IN THE ASS EVERY SINGLE DAY.

I know there are some good people in NY, but if a meteor hit that fucking city and wiped it off the planet, I'd cheer out loud and crack open a bottle of Johnnie Blue.

Tue, 09/22/2015 - 23:54 | 6582627 yogibear
yogibear's picture

Even when they didn't have gabage strikes the place was full of garbage. Been their a few times. 

Even the rental car outfits act like their doing you a favor. Like their the customer and you should serve them.

NYC was one of the few places I was glade to leave.

Wed, 09/23/2015 - 07:57 | 6583070 GubbermintWorker
GubbermintWorker's picture

Grammar, the difference between knowing your shit and knowing you're shit.......sorry, couldn't help it.

Wed, 09/23/2015 - 09:03 | 6583231 BarkingCat
BarkingCat's picture

Eye don't sea watt your seeing. LOL

Wed, 09/23/2015 - 02:53 | 6582802 newbie vampire
newbie vampire's picture

"Taking a pay cut to $17k can net you close to $40k in benefits."

The new american nightmare, work and live in poverty.

Wed, 09/23/2015 - 00:07 | 6582648 Paveway IV
Paveway IV's picture

"...and makes $647 a week (before taxes and dues), assuming a rough 40% tax rate because he's an idiot that doesn't understand how to fill out a W2, he takes home $388 a week..."

I think you're a few gumballs short of a full load there, Tom. You're federal tax rate is high even if he didn't claim any deductions. But you've obviously never collected a paycheck anywhere out East. No human being making $647 a week takes home anything close to $388 a week. State, city tax. Mandatory obamacare or equivalent. Union dues. Unemployment and SS. So MAYBE he takes home $275/wk. Even if you have a junker car and park for free, it's still $15/wk for plates, tabs and insurance. That's assuming you don't drive it at all, otherwise $40/wk for a tank of gas. 

I'm not sure how far the remaining $220 a week would get you in the MST2000 Twin Cities, but in NYC that's about enough left for food, your weekly shower and a trip to the laundromat. Sorry, meth, McDonalds and cell phones are for people with way more money than that. The Wild Turkey is almost a requirement since you can't afford a gun to blow your brains out. 

Maybe someone from NY can fill us in here. What would a gross of $674 leave you for takehome?

Wed, 09/23/2015 - 02:41 | 6582797 Solosides
Solosides's picture

You must be smoking meth if you think that its possible to live on $388 a week

Wed, 09/23/2015 - 03:05 | 6582813 Sudden Debt
Sudden Debt's picture

I'm pretty sure you can find cheaper housing in New Jersey or the Bronx. You do have to commute a bit more but hey! A lot of people spend 1 to 2 hours to work in their car!

And his clothes are dirty and he doesn't wash?

Really? 

I think that guy has more personal problems and can't manage his money.

In Paris it's the same shit but people go to work on the train.

I call this entire article BULLSHIT!!

I've met people in New York that have never been away more then 10 blocks from their home!!

It's the mentallity of "BRING THE MOUNTAIN TO ME JEZUS! I DESERVE IT!"

3K a month is very good money.

That guy should be fired on the spot.

Wed, 09/23/2015 - 07:22 | 6583023 overmedicatedun...
overmedicatedundersexed's picture

nwo is bringing the 3rd world to the western countries, and sudden debt is stuck on well they could move to nj.

it's not bull shit mr s debt..but it is coming to you over the southern EU border..the life boat is sinking as more and more climb in..of course the elite have large yachts to be safe in..you and me not so much.

Wed, 09/23/2015 - 09:18 | 6583290 MarkGoldman
MarkGoldman's picture

3K a month is what it takes for me and the spouse to simply exist, and we live in the ozarks of Canada, don't have cable, have never been on a vacation in the 10 years we have been a couple, don't drink at all, no partying whatsoever, no motorized toys, and no oversized savings account. 

The last time oil was this cheap, gas was .79/liter. Today it is 1.20. And on and on, hydro rates have gone from 4.3/KWH to 16.1 peak...

I'm pining for my basement dwelling days of yesteryear, turn the heat up Ma!

Tue, 09/22/2015 - 22:34 | 6582449 Main_Sequence
Main_Sequence's picture

(inside joke) What about $40 million? ;)

Tue, 09/22/2015 - 23:06 | 6582528 wendigo
wendigo's picture

I reconsidered the offer and realized the whole thing is absurd. 

Wed, 09/23/2015 - 02:50 | 6582800 Inexcye Solm
Inexcye Solm's picture

That guy in the pic def doesn't make 33k a year at anything. And if your skillset only allows for 33k a year in NYC, then you'd be making less than 20 in Nashville, TN...still not making it. Stop with the directionless leftist articles, because what do you propose? Raising the minimum wage for labor a semi-trained simian would excell at? I thought this was a economically insightful website...

Wed, 09/23/2015 - 07:19 | 6583018 doctor10
doctor10's picture

You haven't got an "economy" if it can't provide for food, clothing, and shelter for employees.

You might have institutionalized a slave state, however.

and NO-for all the little Stakhavovites out there-the answer is NOT MOAR local, state, and federal rules/regulations or taxes...or licensing...or "insurance requirements"....

Wed, 09/23/2015 - 08:32 | 6583162 SofaPapa
SofaPapa's picture

This is the problem in a nutshell.

Control freaks' idea of how to solve a problem is to put a new person in the picture to solve it.

So, you have people performing [X] dollars worth of useful labor.  But they are now being "optimized" by some person whose job it is to tell them how to do their job.  Now the new "supervisory" person makes [X+5%] dollars for zero actual product.  Final step, make sure there are more of the "supervisors" than the people actually producing anything.

Is it any surprise this doesn't work?  Our economy is geared toward "getting ahead", and that has become defined by becoming one of the supervisors.  Checkmate.

Wed, 09/23/2015 - 11:48 | 6584035 Black Warrior W...
Black Warrior Waterdog's picture

He needs to fucking move.

Tue, 09/22/2015 - 21:51 | 6582291 FreedomGuy
FreedomGuy's picture

Wait till de Blasio finds out about this!

Will they still retire at full pay with pensions?

Tue, 09/22/2015 - 23:47 | 6582616 uhland62
uhland62's picture

I would not think so. Aren't all the workplace reforms about people not having pensions any more? In Sydney, Australia, some people have realised they need lowly paid staff in the city, but they cannot afford the rents. Some sort of system was invented where they built small apartments for these people where they could stay at affordable rents for the time they were part of the lowly workforce in Sydney. I am disgusted about New York. I am not a bleeding heart but that goes too far.

Tue, 09/22/2015 - 21:58 | 6582322 Ghostmaker
Ghostmaker's picture

For less pay.

Tue, 09/22/2015 - 22:11 | 6582372 juangrande
juangrande's picture

Bernie says no!

Wed, 09/23/2015 - 02:59 | 6582808 newbie vampire
Wed, 09/23/2015 - 03:26 | 6582833 tarabel
tarabel's picture

 

 

I'd hire either Jeb or Hillary for that position.

I'd even throw in free leg irons and time off for extra whippings.

Wed, 09/23/2015 - 08:47 | 6583193 NeedtoSecede
NeedtoSecede's picture

The beatings will continue until morale improves!

Tue, 09/22/2015 - 21:56 | 6582311 Hohum
Hohum's picture

A good question asked.  It might also be applied to ask whether a sub-minimum wage job is worth having if the holder has to depend on food stamps to feed the family.

Tue, 09/22/2015 - 22:19 | 6582405 Skateboarder
Skateboarder's picture

The key datapoint from this information is that adults with service or menial jobs can't even rent a simple apartment for themselves (not without the help of 6-7 roommates) in the same city of their service.

That's pretty fvcked for a place as big and dense as NYC.

Tue, 09/22/2015 - 22:24 | 6582416 general ambivalent
general ambivalent's picture

But we can stop global warming if we pack ourselves into apartments/closets like sardines. Duck and cover and wait for critical mass, I say.

Tue, 09/22/2015 - 23:39 | 6582603 adr
adr's picture

The key data point is that the people that live in the penthouses need to be hung from light poles, right fucking now.

People like Lloyd Blankfein need to be killed by slowly cutting them up with a mellon baller.

Wed, 09/23/2015 - 09:25 | 6583320 NihilistZero
NihilistZero's picture

+1 for oligarch mellon balled torture. Hadn't ever thought or heard of that one. Way to be original bro!

Tue, 09/22/2015 - 22:43 | 6582474 oooBooo
oooBooo's picture

I believe that welfare programs reduce wages. With welfare someone can slightly underbid his labor and get the job over those who aren't on welfare. Welfare + slightly lower paying job > job. It is just the kind of thing big corporations love because it socializes their labor costs on to the taxpayers.

Tue, 09/22/2015 - 21:56 | 6582312 Ataxic Press
Tue, 09/22/2015 - 21:56 | 6582314 Professor Fate
Professor Fate's picture

No big problem.  This guy just needs two or three more jobs.

Fate the Magnificent
"Push the Button, Max" 

Tue, 09/22/2015 - 21:57 | 6582317 Chuck Walla
Chuck Walla's picture

¡Union Si!

FORWARD SOVIET!

Tue, 09/22/2015 - 21:58 | 6582321 Berspankme
Berspankme's picture

It ain't the wages people. Fuck You Bernanke you cunt. I would love to find you living on the street some day. I'd beat you silly

Wed, 09/23/2015 - 04:29 | 6582326 . . . _ _ _ . . .
. . . _ _ _ . . .'s picture

There's your society of entitlement! Greedy poor bastards. Who do they think they are demanding the very basics of human existence?

Tue, 09/22/2015 - 22:00 | 6582330 Sanity Bear
Sanity Bear's picture

$2690 for a one-bedroom apartment a month is easy to afford when shared by two Wall Street employees or 39 illegal Mexicans.

Tue, 09/22/2015 - 22:00 | 6582331 Berspankme
Berspankme's picture

Where did that fucking Unicorn go with the skittles?

Wed, 09/23/2015 - 00:01 | 6582644 Skiprrrdog
Skiprrrdog's picture

Its at my house dropping a bowl for us...its movie night...

Tue, 09/22/2015 - 22:02 | 6582335 Wahine
Wahine's picture

I was googling my citys homeless shelters today and saw that most require you to have a job to stay there. I see lots of people in uniforms going to and from work there everyday. Section 8 waiting list has been closed for years so thats the new low income housing

Tue, 09/22/2015 - 22:03 | 6582339 Berspankme
Berspankme's picture

But Obie said everything is awesome

Tue, 09/22/2015 - 22:07 | 6582354 10mm
10mm's picture

Gee,no shit. Over inflated metro shit holes costing progressive shit heads more genocide.  Fuck em.

Tue, 09/22/2015 - 22:09 | 6582369 buzzardsluck
buzzardsluck's picture

Lucky the unionhead is doing ok........

Tue, 09/22/2015 - 22:11 | 6582371 shovelhead
shovelhead's picture

Bet theres plenty of empty space down at the Union Hall.

Tue, 09/22/2015 - 22:12 | 6582377 The Bell Rang
The Bell Rang's picture

Find the Land Lords...Hang the Bastards from the light poles....Take the apartments....Fuck UM....

Wed, 09/23/2015 - 07:52 | 6583063 Big Corked Boots
Big Corked Boots's picture

Robert Mugabe, is that you?

Tue, 09/22/2015 - 22:17 | 6582393 ISEEIT
ISEEIT's picture

But..but..bbbutt..

'World leaders' like president whatever it's name, the 'United (ha-ha) Nations'....the POPE?

W.T.F?

So much for 'gradualism'.

These psychopaths are plotting a transition..."transformation" according to our ever historic..and definitely unprecedented pathological president.

The entire globalist framework is poised to go live. This 'deal' in Paris coming up..coupled with the 'agenda 2030' master plan= catastrophe for humanity.

We live, for better or worse??

In epic times.

Tue, 09/22/2015 - 22:24 | 6582415 Billy Shears
Billy Shears's picture

I feel pity for these people but this is the same cadre of public employees that bankrupt most municipalities around the country. I have worked in the private sector since I graduated college with a B.BA and I have no pension, no hope of a taxpayer funded retirement and/or healthcare and shitty wages to boot as well and while I don't presently live on the street it is probably just a matter of time. Upside is I'll be working three jobs so there really wont be any need for sleep or shelter. Convergence...

Tue, 09/22/2015 - 22:27 | 6582426 general ambivalent
general ambivalent's picture

Get a job!!!!

Oh, wait...

Tue, 09/22/2015 - 22:30 | 6582433 Chris Dakota
Chris Dakota's picture

landlords stole the recovery for themselves.

San Francisco median rent keeps going up now at $3600 per month.

Mostly due to Airbnb.

Apartments are now hotels, nothing to rent only the high paid workers can rent newly.

It will end in tears, things are starting to fall apart.

No labor to be found, they can't afford to live near.

Tue, 09/22/2015 - 22:47 | 6582486 MalteseFalcon
MalteseFalcon's picture

"San Francisco median rent keeps going up now at $3600 per month.

Mostly due to Airbnb."

Massachusetts has laws that allow landlords to be abused in everyway imaginable.  So now ... Airbnb and good bye to professional tenants and their lawyers.

Wed, 09/23/2015 - 03:26 | 6582832 newbie vampire
newbie vampire's picture

"It will end in tears, things are starting to fall apart."

Things have already fallen apart.  We have working people barely surviving.  Where are the pitchforks ?

Man, Americans can endure even worse living conditions than what they used to say about the pore ole Russkis living in the ole Soviet Union.

Back in dem Soviet days, you had queues and empty shelves.  

In the US today, you've got overloaded shelves of food that pore people can admire but can't afford to buy.

Let them eat cake.

Wed, 09/23/2015 - 04:39 | 6582878 goldsansstandard
goldsansstandard's picture

Plus there are many houses and apartments that are kept empty. That way , the owner can get the appreciation without the risks in a heavily regulated rental market.
Plus, an empty property,fetches a much higher price.

In addition, many rent controlled apartments are pied a terrs for folks who lived there long ago, and moved to the burbs.My friend knows a lady in Berkeley who built eight sheds in her backyard and rented them out, till finally the city had her remove them.

she lives in the Berkeley house, but has a rent controlled apartment in Potrero Hill that she air BBs , and to top it off, she has an apartment in elderly public housing that she also BBs.

She is a great welfare entrepeneur.

Tue, 09/22/2015 - 22:32 | 6582438 drivenZ
drivenZ's picture

just heard someone ive met a few times before, who is the nicest guy, just quit his job as a security guard in NYC... why? after prodding, its because he was sleeping in his car and his sister in DC asked him to stay with her so he doesn't freeze to death this winter. 

Tue, 09/22/2015 - 22:42 | 6582469 me or you
me or you's picture

All NY's landlords are Jew they don’t give a damn about NY'kers. 

Tue, 09/22/2015 - 22:44 | 6582479 Ms No
Ms No's picture

That picture is disturbing to me.  I don't think a person should cry over every homeless person they see but they are standing right next to him as if he doesn't even exist, taking pictures and being narcissistic little bitches.  Just goes to show that once psychopaths take power your culture will begin to emulate them.  I guess when people see tons of homeless every day after a while people will just begin to see them as nothing more than part of the environment. 

This country is a collapsing joke and all our politicians just skip a long as if they are men of high accomplishment.  I have a feeling that none of this political generation will be shamed by hoovervilles, on the contrary, they are proud of themselves.  

Tue, 09/22/2015 - 23:11 | 6582545 OverTheHedge
OverTheHedge's picture

I assumed that they were ladies of negotiable affection - for that authentic  Dickensian touch. You know - how to get ahead in the big city.....

 

Tue, 09/22/2015 - 23:58 | 6582634 Skiprrrdog
Skiprrrdog's picture

That trio of clueless twats does not realize how little stands between them and that guy, 'there but for the grace of God go I" as they say. I am in the Tucson are and the other day I drove thru the downton area, and could not *believe*the number of homeless people I saw. I passed thru like four or five big intersections that had FOUR people panhandling, one on each corner. And a couple of the parks I drove past were jammed with the homeless. My wife says, they mostly choose to be there, and I told her not all of them. Many of them perhaps, but I saw a few that looked out of place, you know just like someones Grandma or Uncle, whatever. Very sad, and getting sadder quickly.

Wed, 09/23/2015 - 00:37 | 6582692 Global Douche
Global Douche's picture

I won't shed a tear when their Gravy Train gets derailed, their 401k taken by the bank$ters. Each will become hookers and what they get won't do much at all for them, but they're woefully stupid and can't see what most ZH'ers realized such a long time ago. That's among the reasons I'm glad I moved out of Little Rock years ago. Their homelessness is getting worse and now people with cars with paper tags, some who are capable-bodied white men, are starting to beg when I visit my family there, most lying through their teeth and you can read them easier than the Dem-Gaz newspaper. Thankfully, I don't have to put up with that nonsense where I live today.

Wed, 09/23/2015 - 03:14 | 6582821 dreadnaught
dreadnaught's picture

They dont have a fucking clue, and when it hits them, the shock will break their CLUELESS reality...Taylor Swift, Androids, and pink lipstick

Wed, 09/23/2015 - 10:01 | 6583462 Grosvenor Pkwy
Grosvenor Pkwy's picture

The photo is most likely a fraud. The girls were pasted into the picture, you can see by the way they appear to be standing on nothing.

The old man is an obvious reference to Jethro Tull "Aqualung."

Many of these frauds use obvious literary references, such as Edward "Where are the Snowdens of yesteryear?" Snowden, one of the most important characters of "Catch-22."

Tue, 09/22/2015 - 23:04 | 6582512 Peak Finance
Peak Finance's picture

All this ranting against Landlords is just nuts. A lot of us are just normal people, and I make SHIT on the places I rent.

Here is the breakdown:

12 Months Rent Collected

 - 6 Months off the top to the the HOA, Fees and Assessments

that leaves 6 months 

- 2 Months for Taxes

That leaves 4 months, more than 50% gone already! Wait there's more: 

- 1 Month for Insurance and Routine Repairs (Do most work myself and save a ton)

That leaves 3 months, just 20% of the yearly take for all of the risk, and management time, and time fixing shit. 

1 major repair like a compressor, or major plumbing problem that damages someones unit, and that's my entire profit for the year gone. 

That's the reality of the rental situation for most of us guys that rent to people in blue collar lower middle class areas, these numbers typical for South Florida. 

Tue, 09/22/2015 - 23:09 | 6582539 wendigo
wendigo's picture

Half goes to HOAs? Seems high. Maybe you could set up shop where such thngs don't exist? 

Tue, 09/22/2015 - 23:43 | 6582610 adr
adr's picture

Extracting profit from housing is the problem.

You think real business is any better?

In the real world you are lucky to make 10% off gross sales. Most small businesses barely break even.

Taking in rent should never be a primary source of income.

Tue, 09/22/2015 - 23:55 | 6582629 Ms No
Ms No's picture

"Extracting profit from housing is the problem."  "Taking in rent should never be a primary source of income."

Why not?  Doesn't this problem lead back to the same place that most others do where things are inflated due to monetary policy and bubbling?  It can be a lot of work to fix up and maintain rentals not to mention years of hard work and savings to aquire income producing property, why would that be an immoral or poor way to try and make an income? 

Tue, 09/22/2015 - 23:44 | 6582612 Ms No
Ms No's picture

I've always wondered if there was somebody skimming or profiting off of HOAs themselves.  The set up is similar to Obama Care and unions so there has to be an angle somewhere.  They are supposed to be non profit but they can funnel money to particular contractors and enforce patronage through a lein against your property so that's an aweful lot of power.  

The combination of membership fees plus the use of leverage seems to leave the owner far too vulnerable.  If they are taking 6 months of your rent either you are getting shaken down or rent is way too low.  As always it will most likely be the Silverstein types that own whole blocks who are going to be the problem and they probably find a way to get out of most fees as well.    

 

Wed, 09/23/2015 - 10:08 | 6583521 Grosvenor Pkwy
Grosvenor Pkwy's picture

Being a "non-profit" has nothing to do with whether someone is making money off the scam.Non-profit only means they cannot declare a profit and pay dividends to stockholders.

Many non-profits have very high administration costs, and the larger ones have high executive salaries and perks. Even legitimate charities have substantial admin costs, and since they often pass off the money they collect to another organization like themselves, each organization takes their cut and passes the money on, leaving very little to benefit the final object of charity.

Tue, 09/22/2015 - 23:58 | 6582637 Dre4dwolf
Dre4dwolf's picture

Lol we are trying to add one more apartment to our house to help pay the mortgage.

If you sit and look at how many years its going to take to get a return on your investment.

Compound it with the work and stress of building some gimp property that will be ruined asthetically because of regulations that dont make sense.

Compound it with the headache of having to deal with people that live right next to you who MIGHT OR MIGHT NOT PAY YOUR RENT ON TIME.

Compound that with the possibility that you might have to go through hell to evict them if they cant pay you.

Compound that with the increased real-estate taxes that adding SF to the lot will create

Compound that with the fact you cant charge what the property is worth.

Compound that with people hating you for being a land-lord (Because Im the bad guy by not being in their situation).

 

You endup wanting to do whats logical, expanding, building, providing for the common good.

But

Then you are contemplating how much you have to personally sacrifice to provide someone you dont even know housing.

All just to try and make your burden a little less, when in reality you trade tit-for-tat (instead of paying the mortgage and pulling your hair out, you are dealing with idiots next door who wont pay you and pulling your hair out).

Something tells me its better to dump everything take a meager profit on the sale of property and move somewhere out of new york (buy some shit hole for 50k) and go fishing everyday.

 

 

 

 

 

Tue, 09/22/2015 - 23:48 | 6582574 Dre4dwolf
Dre4dwolf's picture

lol let me tell you how shit works.

lets say you have an office, lets say the office has about 30 employees , lets say the mayor is one of those employees, everyones ceiling in that building will be leaking except the mayors.

 

new york city jobs that are not in managerial positions suck, people camp the job out for the benefits later and no one does anything in these jobs anyway (atleast nothing that benefits society).

 

the only city workers who pull their weight are sanitation workers, teachers ,fire fighters, cops and engineers, everyone else is pretty much dead weight including the mayor.

its 80% bullshit paper work that does nothing 20% productivity.

Print out a list of every city agency in New York, give me a red highlighter and about 25 minutes and I will save New York City and Tax Payers billions.

As for New Yorks high rent cost.

Move out so shit gets cheaper for those who can afford to live here.

 

If I owned property in New York and I was collecting less than say 2500$ a month from the property, I would dump it or not spend a dollar on repairs.

Real Estate Taxes - Too high

Insurance Costs - Too high

Building Codes - Too Strict

 

Rent Control Creates Slums, where you just have low income people that cant succeed sitting there ruining perfectly good neighborhoods and leaching off others, if those Rent Controlled areas were not rent controlled and the building codes were more relaxed(how big you can build) you would have many more affordable housing complexes, condos and such all over New York and Brooklyn/Queens.

The zoning laws are stupid and archaic you cant build anything useful and you have to build in ways that Gimp out the design just to obey stupid regulations like how much natural light can get into a room, half your house has to be windows the way they have things, you endup building 4 windows in a room that needs only one or two because of stupid regulations.

Not to mention fence rules, property line rules etc... you have to build like 10 feet from neighboring property lines, and since your neighbor has to do the same you endup with like 20 x 100 lots you cant build jack shit on.

Its fucked up.

Land Lords are not the problem, its the city and its regulations and rent control keeping land lords from expanding and improving and building to meet the demand for housing in the areas.

We own some a 50x100 lot in new york and we cant even get 4 apartments built on it because of zoning laws, meanwhile down the block you have 100 chinese families crammed into a 20x100 lot the zoning is stupid the building regulations are stupid, they need to expedite the shit out of modernizing all the areas in NY/Surrounding boroughs... they recently changed the zoning in Astoria (some areas thereby) and its booming now all the Chinese people came with CASH bought all the land before the change (someone tipped them off probably that changes were coming) and they are building tons and tons and tons of warehouses and offices now...

Relaxing zoning and regulations creates construction booms, especially when you aren't meeting housing demand.

I would gladly rent 4 x 800SF apartments for about 1100$ each but the way the city has it you cant even build one 750SF apartment and if you do you have to charge 2500$ just to make a bit more than the Real-Estate Taxes those SF will cost you.

 

Tue, 09/22/2015 - 23:34 | 6582592 Arthur Schopenhauer
Arthur Schopenhauer's picture

Would this explain it a bit?

Case Shiller home price index YOY vs Average Wage Growth YOY

Source: Confounded Interest - Online Course Notes For Financial Markets.

https://confoundedinterest.files.wordpress.com/2015/08/csyoywage.png

Tue, 09/22/2015 - 23:35 | 6582595 q99x2
q99x2's picture

I did not like NYC this summer. It still has status but lost its class. It is a vulgar place.

Wed, 09/23/2015 - 00:11 | 6582652 RaceToTheBottom
RaceToTheBottom's picture

Banksters investing in flop houses.

They never stop doing gods work....

Send them to hell.

Wed, 09/23/2015 - 00:35 | 6582689 onmail1
onmail1's picture

Cool America

Wed, 09/23/2015 - 00:50 | 6582708 Ms No
Ms No's picture

California and New York are completely screwed.  Anyone who has a property there should sell ASAP while it still has value and get the hell out of there.  I am not sure where a great place to be is economically but certainly people can do better.  I know I grin ear to ear everytime I look at the expiration date on my AZ drivers license, it's 2041!

Wed, 09/23/2015 - 01:00 | 6582727 Richard Head
Richard Head's picture

I bet that union president has a nice apartment.

Wed, 09/23/2015 - 03:17 | 6582823 tarabel
tarabel's picture

 

 

Two.

One for the wife and kids.

One for the woman who turns his crank.

Oh, and a very nicely apportioned office suite with a couch, kitchen, and shower for those times when he needs to interview new candidates.

Wed, 09/23/2015 - 01:03 | 6582730 directaction
directaction's picture

What kind of an idiot would live in New York City in the first place? 

Wed, 09/23/2015 - 02:36 | 6582794 peterk
peterk's picture

$US2700 is about $3800 Australian dollars even at todays stupd low  AUD/USD exchange rate.

In sydney  $1000   a week is about what youd pay for a  city apartment. so the comparison is the same  here as int he US. Seems the FED and RBA (reserve bank  of AIsrlia)  have done

a great  job  at  creating inflation. its the only theing they can do , create inflation.. non of this "creating jobs"  nonsense.

 

Atleast in the process the US comes out of a QE program with a strong  currency, so you can buy  what over you like overseas and or invest. here  the  same inflationary program results in a debased currency.

As the French said, the US has an "exorbitant privlidge" being the   reserve currency.

Seems the rest of the world is to stupid to realise this.

Wed, 09/23/2015 - 05:49 | 6582926 Lucky Leprachaun
Lucky Leprachaun's picture

Creating steady non-dramatic inflation is a fundamental pillar of the whole central bank scam. The system would fall apart without it.

Wed, 09/23/2015 - 02:48 | 6582798 JailBanksters
JailBanksters's picture

That's smart....

You live for free in shelter paid for others, while you rent out your appartment.

Wed, 09/23/2015 - 02:53 | 6582801 jcdenton
jcdenton's picture

I'm not for NY. I'm from TX. Been to NYC, never lived there.

In the summer of '91, I worked for Dell Computer in Austin, for $8 an hour. Gas was at most a dollar per gallon. I first shared an apartment with 3 other guys. A 2BD/1BH.

10 years later I would have a brand spanking new 2000 sq. ft. home and boat in Lago Vista. No wife/kids (all mine including a 65" screen) Making around $30 an hour. Projecting to double that in the next years. Same industry. Just improved my skill set over time. Then 9/11 hit with NAFTA full blown.

10 more years later, I would lose my last perm job. Live with elderly parents at present. In Houston, where oil has just gone bust. 3 years of interviews to the present. One was for a mid-stream (oil/gas) in downtown Houston. They dangled 95k in front of me if only I had one full year experience in one tool set. Would not even offer me half as much to train up. Could not figure that one out at first. Later I figured that the 95k job was actually a consolidation of 3 jobs, including the two jr. level 1/2 pay jobs.

Something truly criminal is going on. Only way I can explain it.

My only hope, this nation's only hope, this world's only hope is explained below. If one person could bring down the Berlin Wall; the Iron Curtain. Then the same could lift up the entire planet:

https://app.box.com/s/hfgvcqg7gqh7i27at6sv53ywu87lwarp

Wed, 09/23/2015 - 03:03 | 6582812 Debugas
Debugas's picture

Q: what good is a job if it can’t earn you a roof over your head?

A: you have something to buy food with and survive

Wed, 09/23/2015 - 03:52 | 6582853 newbie vampire
newbie vampire's picture

"you have something to buy food with and survive"

If one is an inmate in de peniteniary, one would not need to work, pay rent or buy food.

Lets all go to FEMA.

Wed, 09/23/2015 - 04:34 | 6582873 Keyboard Kommando
Keyboard Kommando's picture

Live out of the city and take the train in?

Wed, 09/23/2015 - 08:19 | 6583123 silverer
silverer's picture

Get the same job working for a city in the southeast and live in a house.

Wed, 09/23/2015 - 05:00 | 6582886 kaboomnomic
kaboomnomic's picture

Isn't american like CAPITALISM? Well those who have the most capitals? Enjoys the most fruits from their capitals. Doesn't matter where those capitals coming from.

Hey, you got what you wish for. Why complaints??

Wed, 09/23/2015 - 05:35 | 6582909 Farmer Joe in B...
Farmer Joe in Brooklyn's picture

Please allow me to repeat myself...

Remove yourself from the system.

#1) Stop working for a paycheck. Leave the system and find a way to make a living on the black market (produce something, cash work, tips, etc)...or where at least a majority of your income is derived from cash.

#2) Remove all assets "from the system". Cash out 401k/IRA/etc. Buy physical precious metals and keep the rest in hard cash. Invest in a foreign country with a corporate identity. Make yourself poor on paper.

#3) Get on ANY program you can: Medicaid, food stamps, welfare, rental assistance, utilities assistance, phones/phone plans.

If you are like me and in your 30's (give or take a decade or so), you will NEVER get what you paid into social security. Take it now.

Whenever I get my social security statements telling me they will pay out $~1200 a month when I am 65, I want to punch someone. Either they will default, make me work until I am 80, or they will have gutted the currency to the point where I can only buy rice and toilet paper with my monthly payments.

Time to take the power back..!!

Tick tock, tick tock...

Wed, 09/23/2015 - 05:45 | 6582920 Lucky Leprachaun
Lucky Leprachaun's picture

Your analysis is accurate and advice good.  But it's a huge upheaval for anyone comfortable - for now - in The System. 

Wed, 09/23/2015 - 09:56 | 6583412 Arthur Schopenhauer
Arthur Schopenhauer's picture

"Please allow me to repeat myself...

 

Remove yourself from the system.

#3) Get on ANY program you can: Medicaid, food stamps, welfare, rental assistance, utilities assistance, phones/phone plans."

WTF?

Wed, 09/23/2015 - 06:14 | 6582942 wisebastard
wisebastard's picture

its called being a slave

Wed, 09/23/2015 - 07:39 | 6583047 loregnum
loregnum's picture

I just went to some rental site and did a search and found places this guy should be able to afford. Seems there are places but hey, let's ignore those.

Obviously the housing/rental situation there is screwed up but there are places people can go to if they want as long as they aren't thinking they should have some big and fancy apartment or house for 5 cents a month. 

The guy could also probably look for a new job in a city that isn't so jacked up but that would require not playing the sympathy card for a problem that isn't going to be fixed any time soon.

Wed, 09/23/2015 - 08:08 | 6583098 Lostinfortwalton
Lostinfortwalton's picture

The worker should quit his job and go on welfare and then work off the books or start dealing in drugs, stolen goods, perform robberies, be a pimp, whatever. The idea is to take tax dollars but never, ever, contribute tax dollars.

Wed, 09/23/2015 - 08:19 | 6583124 roadhazard
roadhazard's picture

Sad that people will put up with that. Grow some balls and leave. America's a big country where you can live with dignity. Just stay away from the fucking cities.

Wed, 09/23/2015 - 08:21 | 6583131 silverer
silverer's picture

NYC has created this via politicians and laws.  How money works in NYC is distorted beyond anything I've ever seen except perhaps for the other world financial centers, such as London.  Same reasons.

Wed, 09/23/2015 - 08:22 | 6583134 mastersnark
mastersnark's picture

Zero sympathy for a parasite on people who actually work for a living. I wish all government employees made this little.

Wed, 09/23/2015 - 09:12 | 6583267 Bemused Observer
Bemused Observer's picture

Umm, read the article again. These folks ARE working.

Your anger is more properly directed at those higher-ups, not the rank and file.

But what do you care? A target's a target, right? Besides, it feels GOOD to kick the dog, since he can't kick back. Serves him right for being there when you are so pissed off about something...

Thu, 09/24/2015 - 13:23 | 6589102 mastersnark
mastersnark's picture

If you collect a paycheck from the government, you aren't working, you are a parasite. Sorry for the cognitive dissonace.

Wed, 09/23/2015 - 08:49 | 6583197 dadcss
dadcss's picture

This article is about NY city but it is not much better anywhere else in America.

There are small pockets doing well - but mostly not.

Many of us in IT are contract workers now - told to train Izzy as our replacment.

Meanwhile Obama plans vacations and and a monster library.

Congress does - well - nothing.

The MSM dares not attack anything but Trump and Putin.

At what point does America look like Bangladesh with most staring into tiny Font iPhones.

Wed, 09/23/2015 - 09:23 | 6583310 yellowsub
yellowsub's picture

What you find in Manhattan lately are luxury or projects, there is no in-between affordable buildings for middle income or those above poverty the line.

Wed, 09/23/2015 - 10:19 | 6583591 Chris Dakota
Chris Dakota's picture

This government is doing everything they can to kill the middle class they so deeply hate.

Wed, 09/23/2015 - 09:35 | 6583363 Lostinfortwalton
Lostinfortwalton's picture

Years ago I was working for a British firm that had offices in the overhyped Seagram Building. Every few weeks I was having to take money out of my savings just to exist in NYC. The firm said they were "reviewing" the situation. I was walking back to my apartment one night and saw a pregnant rat as big as a pig waddling down the street. I packed it in the next day without having anything else lined up. I did find a job in Virginia after leaving. A couple of years later the firm also closed up shop in NYC and moved down to Virginia.

Wed, 09/23/2015 - 11:34 | 6583941 Bankster Kibble
Bankster Kibble's picture

D.C. is just as bad.  Ten years ago I heard people complain they could not live there (apartment, not a house) for less than $90k salary.  Which is why the commute from Virginia is so bad.

Today I know people who commute 2 hours one way to their jobs in the SF Bay Area.  Little towns in the Sierra foothills are now considered "bedroom communities" if they are near a major highway going west.

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