I'm not a Socialist, but an interesting opinion piece:
"This yardstick of affordability for an apartment for a family of
three compares to a citywide median household income of about $60,000,
less than half this amount. In Brooklyn and the Bronx, the median income
is even less—about $45,000 in Brooklyn and less than $40,000 in the
Bronx, the city’s poorest borough.
"This notion of affordability is
pitched to the top 10 percent of the city’s earners, at best. In
addition, in a backhanded admission of just how limited this deal is,
Blackstone tosses a few tiny crumbs to families that fall below
six-figure annual incomes. The owners promise to put aside 500
apartments in the complex, less than 5 percent of the total, for
families making up to $62,150 annually. They would pay up to $1,553 a
month for two bedrooms. Even this figure, covering a tiny fraction of
the apartments in the complex, is beyond the means of a majority of
More at the above link.
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