Thursday, January 1, 2015

The Obama Economy

From the NY Daily News:
They don’t call it a lottery for nothing.
More than 92,000 people applied for 924 affordable housing units opening up in two new buildings on the Long Island City waterfront – nearly double the expected number in an impressive show of demand for below-market rate units.
Roughly one out of every hundred applicants in the automated lottery will be selected by mid-February to rent apartments for as low as $490 a month for studios and as high as $2, 680 for two-bedroom, depending on the tenant income....
Meanwhile, across the Brooklyn border more than 70,000 people applied for 38 units of affordable housing in a Williamsburg building on Frost St., which due to the sky-high demand will have an even lower rate of acceptance.
162,000 applicants for less than a thousand low income housing.
That's the Obama economy for you.

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