Apartments for Low Income

Questions and Answers

Your Questions About Luxury Apartments Nyc

June 28, 2013

George asks…

Microeconomics concepts – Homework help!?

I’m taking Economics AP this year, and I’m ok with the math/graph portions, but the actual concepts confuse me. I have 3 questions for homework, and if anyone could clarify any of these concepts it would be a huge help.

I’m supposed to answer the following in terms of median-voting, rational ignorance, or rent-seeking.

1. Farm-price supports cost taxpayers billions of dollars each year. The purpose of farm-price supports is to raise the price of agricultural products, which costs consumers more money. In a recent year, a bill was introduced in Congress to lower price supports for dairy farmers. Even though 55% of milk production takes place in 5 states and even though a majority of Congressional districts have no dairy farmers, the bill was soundly defeated.

Why would members of Congress fail to pass a law that saves their taxpayer and consumer constituents money?

2. While most American cities provide an adequate range of housing possibilities for their citizens, some do not. In NYC, apartments are hard to find, and some are units without sinks or hot water. The problem is not a lack of space. NYC has many abandoned apartment buildings. At the same time, some NYers live in luxury apartments and pay low rents.

Why do some NYers face a housing crisis while others are secure in choice apartments, playing low monthly rent?

3. Almost all economists have believed voluntary trade improves a nation’s standard of living. Yet almost every nation in the world passes laws that reduce trade. These laws involve tariffs, quotas and regulatory restrictions.

Why would nation pass laws that lower their standard of living?

Thank you so much!

Administrator answers:

1. This could be a socio-political answer but congress and the senate especially, tends to work under one principle “favors for favors”. It may be in the interest of the congressmen passing the bills to get votes they need for their own measures, which is accomplished by offering votes for other people’s measures (read Master of the Senate, Robert Caro)
number 2; both are due to rent control laws that were made during/ around WW2 (read Thomas Sowel)
3. For one, not everyone understands why voluntary trade benefits all parties. In voluntary trade (aside for cases of fraud, which are rarer than some believe) if two or more parties choose to be involved- obviously they both see a benefit in interacting with one another. Only in coercive reciprocity (like taxes) can there be the assumption of one party getting no benefit (or nearly no benefit) from the interaction.– that is the economist position.
Another pt about those regulatory restriction is simply that they fund government, if they didn’t have those then government balances would be lesser (note that some argue the validity of this, note the Laffer Curve)..

Michael asks…

Which place has a higher standard of living? NYC or Southern California?

10 differences I know between the two:

New Yorkers get around by subway and taxi, and Southern Californians get around with luxury cars.

NYC has entrepreneurs, and Southern California has celebrities.

NYC has four seasons, and Southern California has warm weather the full length of the year.

NYC has Times Square, and Southern California has Hollywood Hills.

$1 million can buy you an Upper East Side apartment overlooking Central Park in Manhattan with 24-hour vibe just outside the lobby, $1 million can buy you a 4-bedroom house in a quiet area in Pasadena.

NYC has NYU and a couple others in the top 100, and Southern California has Caltech.

New Yorkers love cops because when Giuliani hired so many of new ones, they shed NYC‘s reputation of a crime-ridden city. Southern Californians don’t, because it’s rare they can go 5 years without getting a traffic citation. It’s no wonder why California’s crime rate is much higher than New York State’s, because the cops in Southern California spend too much time enforcing traffic laws and not enough time catching REAL lawbreakers, like drunk people who beat others up in the Trader Joe’s parking lot and dope dealers!

New Yorkers are obsessed with culture (e.g. museums, performing arts, fine restaurants), and Southern Californians are obsessed with the beach and theme parks.

NYC has New York, New York sung by Frank Sinatra, and Southern California has California Dreamin’ sung by The Mamas and the Papas. (notice that I didn’t use California “Gurls” by Katy Perry as the example for Southern California, you know the reason why, but if you don’t, tell me in your answer and I’ll tell you in additional info)

NYC has a fast-paced lifestyle, and Southern California has a laid back lifestyle.
Too bad I couldn’t put this question in both the NYC and LA category, I had to pick one. I think NYC has the higher standard of living. It’s part opinion (e.g. weather), part fact (e.g. crime rate).

Administrator answers:

Generally, LA has a better quality of life for the money compared to New York.

BUT, California has been decimated by the recession and New York has not, at least not to the same extent. Last time I went to New York, people PITIED me being from poor, poor California where everyone has lost their jobs and homes. And the California freeways are full of potholes, teachers are getting laid off left and right, government services are on furlough so you can barely get your drivers license renewed, etc.

So right now California sucks and New York is it.

Ken asks…

18 year old Moving To NYC?

Hello, i am a recent High School Graduate From Miami,Florida. I graduated with a 3.1 GPA and am looking forward to attend Boroughs of Manhattan Community College for two years, then on too Brooklyn College and hopefully grad school for Journalism. My parents split with a bitter divorce, so i have little income from my mother, I have 2 Years Job Experience At Starbucks. And i have $20,000 in savings. My tuition will be payed with other money. I am wondering if i can survive in the city, with a 1 Bedroom apartment and minimal luxuries. The apartment can be in close proximity of Manhattan but Brooklyn,Queens, etc. is fine. Anyone can spot me the cost of living (apartments) cost of food etc. Also as an extra note, i will not have a car, but use public transportation.
Thanks
Will CHOOSE BEST ANSWER!

Administrator answers:

Oh wow.. I just thought about doing the same thing a couple months ago.. Well I still am except I am moving to San Francisco instead of NYC. I am a high school senior and am moving out of Florida ASAP when I graduate.. I don’t want to go to college here and I am going to be paying for college myself. Ive actually lived in NYC though and can tell you about this plan of yours.

First of all.. You WILL need roommates. You can live in a good apartment with 3 other people in a nice neighborhood in brooklyn or queens for about 650-700 including utilities (your share) a month. You wont be able to live in Manhattan… MAYBE, and I mean MAYBE you could afford a roommate situation in Harlem or Washington Heights for the same price but they wont be as good of quality as in Queens or BK. But if you want to go to Brooklyn College you must live in BK because the commute from anywhere else would be too much. Plus, Washington heights is somewhat far away from midtown and downtown but it is close to City College, if you want to go there (cheap 4 year school).

Monthly MTA card is 76, its great.. Works for subways and buses and has unlimited uses for the month. Food will be maybe in the 200 range if you are single and eat normally. Food in NYC is normally priced in the boroughs, but is outrageous in manhattan.. Actually, everything is overpriced in manhattan. You will also need to budget for new clothes because the weather in NYC is in two extremes, very hot in the summer (like miami, and yes, I believe there is humidity), and very cold in the winter. I would budget 50 a month for clothes for at least the first year. You will also need to budget for savings to use on health related things.. Like saving 50 bucks a month to use on your yearly dentist visit or your yearly eye exam. You also will need to budget in at least 100 for other expenses and money you spend on extra stuff. You need to be realistic.. You may say you wont spend any extra cash but you always will. Going to McDonalds, vending machines, buying a magazine, or anything like that is considered extra. Also budget in 80 bucks a year for a PO box.

I believe all-in-all you will need to be making at least 500 a month along with your rent in order to survive minimally, so about 1200 a month after taxes.

A couple tips:

Dont live in new jersey. Establish a residence in NYC and keep your rental receipts and pay stubs. If you live in NY for a year you can pay instate tuition at colleges there.

Support yourself and take minimum amounts of $$ from your mom. If you can prove you pay all your own expenses you qualify for instate tuition and possibly financial aid.

Stay away from some of the east neighborhoods in BK. East New York, Brownsville, Flatbush, and Bed-Stuy are cheap to live in but are ghettoes! Queens and Manhattan are safe, Bronx is so-so, but BK has some of the most dangerous neighborhoods in the whole city.

Be careful in what ethnic enclave you live. Some neighborhoods are so ethnic that every sign except the street signs are in Chinese/Korean/Greek/Spanish. You might be familiar with this though, coming from Miami.

Dont blow your savings if you are trying to go to school.. You have enough saved up for tuition at a college in NYC. Work as little as you need to in order to pay the bills. No more than 25-30 hours a week. It would be foolish to try to live on your own (without roommates) just because you have so much saved up.

Try finding a job as server or busser and gain experience in the serving industry. It is VERY lucrative in manhattan. 2 years experience can land you a good job at a restaurant where you can make good tips.

BTW.. I’ve heard that Brooklyn College (gorgeous campus btw), while somewhat easy to get into, has a hard curriculum so make sure you can balance work and school efficiently.

If you want to talk more, email me at heykenv@gmail.com

Jenny asks…

Moving to NYC in 9 months?

I made the decision about 2 weeks ago to move to the BIG APPLE!!! I’ve already started my research into apartments just to get an idea of average prices on 2 bedroom apartments. I’ve also been researching safe areas of different boroughs to keep my options open, checking out the subway system, and even some safety tips to living in the city. I have two questions that I’m having a hard time finding on the internet:
1.) I have been in the restaurant business for 5 years now with banquet waitress and a la carte training in a moderately formal setting. Obviously Manhattan would be the place to work. What restaurants or banquet halls should I look into? How much would I make per hour or on an average shift a night?
2.) I am already thinking of saving money because I have a few months to get a head start! I have the luxury of living at home with minimal rent and expenses, so saving shouldn’t be a problem. Should I open a cd account to maximize my saving?
Thank you for all your answers

Administrator answers:

Hey there, ok ….so, I am from NYC ….was there for about 18 years …..I’ve just move to St Louis.
I still love NYC, I left pretty much everything ….food, music, movies, bars, life, culture, central park, 5th ave, music label and bank jobs, greenwich village, Hunter’s Point, Fort Tryon Park, DUMBO (google it), PS1, http://www.watersedgenyc.com/, www.porcaous.com, www.tavernonthegreen.com/, off off broadway shows, time warner building, concerts, friends, bars/venues where my fav singers performed, places where all the movies are shots, ….anyway I love NYC…love to give you any inputs ….
Google the names ….you will see what I mean. Use those links…couple of my fav resturants.

2 BR will be about $1700+ in Manhattan. If you are single you are better off with a 1 big BR or studio apt, which will be $1100 or so in Manhattan. My gf’s sister lives in Manhattan (76th and 3rd), pays about that much for a studio. Manhattan will be very 3x expensive. For long as I have known and lived NYC ….all the people who are in the service industry…they tend to live in Astoria (Queens), Long Island City (Q), Brooklyn, Sunnyside (Q) Washington Hts (near columbia U) …all those Q places I mentioned….they are pretty much safe neighborhoods ….(if you want to get in to the convo about race/diversity and how it effects the neighborhood…I’d love to give you indepth details….email me jazzydude666@gmail.com)
anyway, where are you living now? Why the move to NYC? You are in for an awesome adventure….
Not for me …though….I moved St Louis earlier this year …living with my gf, who also lived NYC for three years. She is originally from IL….anyway….would love to help you…so ask away.

Save a lot of $$$, CDs are good idea. You will be using the subway no matter where you are in nyc, therefore, monthly metrocard will be $80. Lunch? Noone have time to eat lunch in nyc….everyone is on the GO!!! …There you will walk into fast food places….but here in midwest …wtf ….drive thru culture….anyhow, I can go forever.

Laura asks…

What are good neighborhoods in NJ with decent NYC commute under $1700 for 1 person?

Looking for as suburban as I can get and still get to NYC in less than 1 hour 20 minutes. Need to be in NYC by 6AM.

I like green and quiet and it’s just me. Don’t like apartment buildings. Would consider like a 2-3 story townhouse. Don’t care about stores and other conveniences. Just a safe place to part a luxury car and get to work on time. The closer to $1000 the better. I’m expecting to pay $1200-$1300. I like Somerset NJ(too far), West Orange(no multi family). Thanks!

Administrator answers:

O.O

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