Culture on the Cheap
Interesting Landlord Rant
This angry communique comes from the wailing wall of the New York Shitty collective consciousness. In other words it can be found on the Craigslist online real estate classifieds. Diana G (who found this missive) writes:
I am astounded by the real estate taxes in particular that have skyrocketed so high and wondering if that is true about the developers.
My answer: it probably is. Property taxes are such that many mom and pop landlords in Greenpoint are now “property rich” but cash poor. The most troublesome thing is this landlord’s woes are hardly over. When all the condos being built here (with the help of major tax bennies) start getting dumped into the rental market (and they will) this man could very well lose his shirt.