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Name me one other country where as many people receive free healthcare as in the US. NY and CA alone have more people receiving free healthcare than any other country in the world. What we know as *free* healthcare in other countries isn’t free. Most everyone contributes. Here, we literally have tens of millions of people not paying a dime in taxes and receiving free healthcare.
Name me one other country where as many people receive free healthcare as in the US. NY and CA alone have more people receiving free healthcare than any other country in the world. What we know as *free* healthcare in other countries isn’t free. Most everyone contributes. Here, we literally have tens of millions of people not paying a dime in taxes and receiving free healthcare.
All but 43 countries in the world have free healthcare or access to universal healthcare for at least 90% of their citizens according to Hudson's Global Residence Index. there are 195 recognized countries
So, tenants decide to take matters into their own hands and buy the owner out. Instead of a congrats, it's "be careful what you wish for." This, despite what the tenants wished for being already known: to have basic repairs in their building their landlord deliberately failed to do! But, we want to criticize the responsible tenants, as opposed to the irresponsible landlord. Welcome to City-Data!
And $4 million for a building in the South Bronx. I can understand why folk want to escape from New York!
Personally, I didn't criticize anyone, it just seems to me like a better deal for the former landlord than for the former tenants (now looks like new owners of co-ops in the building). The title strikes me as peculiar though, because the former tenants did not become their own landlord, but became owners of unit shares in the building - it sounds as though the building was converted into a co-op, which is nothing unusual. The negotiation of the terms of conversion involved a legal action, but that is not unusual either. Why is this even a news?
All but 43 countries in the world have free healthcare or access to universal healthcare for at least 90% of their citizens according to Hudson's Global Residence Index. there are 195 recognized countries
That healthcare is not free. In all Western European countries that I am familiar with, people participate in the national health insurance by almost universally paying a monthly contribution into this insurance. Even people who are unemployed pay that contribution from their unemployment benefit, and even teenagers babysitting or earning pocket money by cutting neighbors' grass pay that contribution out of their earnings. Yes, at the point of care, their healthcare is free, but you can't get it unless you pay contributions into the system - if you fail to pay them, your healthcare coverage lapses.
Name me one other country where as many people receive free healthcare as in the US. NY and CA alone have more people receiving free healthcare than any other country in the world. What we know as *free* healthcare in other countries isn’t free. Most everyone contributes. Here, we literally have tens of millions of people not paying a dime in taxes and receiving free healthcare.
That is exactly correct. A contribution to national insurance in Western Europe is usually not called a tax but a contribution; however, nearly everyone pays that contribution.
The building has 20 Class A units as per HPD. So it's only $200K per unit, thats a reasonable price when you look at it in that way
The price for a small co-op in a doorman building with special amenities in Manhattan is only $50k more than that deal - but that unit in Manhattan has been on the market for 100+ days, suggesting that people are not exactly flocking to that "deal". Note that HOA dues are $9k per year. If you add the down payment and mortgage, the annual ownership of the unit is not cheaper than the annual rent which would be just under $2k per month. Ownership is not a better deal for these units until the mortgage is completely paid (or unless you pay for your unit with cash upfront). And units like these do not appreciate in NYC - this price of $245k is the same as it was about 20 years ago (I had been following prices in Tudor City since the 1980s):
The price for a small co-op in a doorman building with special amenities in Manhattan is only $50k more than that deal - but that unit in Manhattan has been on the market for 100+ days, suggesting that people are not exactly flocking to that "deal". Note that HOA dues are $9k per year. If you add the down payment and mortgage, the annual ownership of the unit is not cheaper than the annual rent which would be just under $2k per month. Ownership is not a better deal for these units until the mortgage is completely paid (or unless you pay for your unit with cash upfront). And units like these do not appreciate in NYC - this price of $245k is the same as it was about 20 years ago (I had been following prices in Tudor City since the 1980s):
and paying cash with no mortgage needed means you are giving up overs 5% on that lump sum too.
that is what makes buying that 450k coop by us a not a great deal . it’s 450k plus 1600-1700 a month in maintenance
same for the condo we looked at in hartsdale . only difference is we paid a separate tax bill so hoa charges were lower but together they were the same as the coop here
we would give up over 30k in income by buying .. the difference after figuring renting vs buying was an 18k a year difference in cash flow .
we looked at high point condos in hartsdale . we would want two bedrooms 2 bath
that is 1000 a month hoa , 417 taxes plus 2500 a month in income given up on the 450k .
renting is much cheaper once all the pieces are included
and paying cash with no mortgage needed means you are giving up overs 5% on that lump sum too.
that is what makes buying that 450k coop by us a not a great deal . it’s 450k plus 1600-1700 a month in maintenance
same for the condo we looked at in hartsdale . only difference is we paid a separate tax bill so hoa charges were lower but together they were the same as the coop here
we would give up over 30k in income by buying .. the difference after figuring renting vs buying was an 18k a year difference in cash flow .
we looked at high point condos in hartsdale . we would want two bedrooms 2 bath
That is if you are an investor. If you have $450k that you don't want to invest, support yourself in some way other than investing (eg, with working), and need a place to live, then paying $450k to own your place to live is a good deal. Some people earn money in order to live, some people live in order to have money - different preferences :-).
450k today is at least 5% in treasuries and more in corporate bonds… it’s all part of the equation regardless whether one wants the cash flow or not . it’s still part of what it all costs if comparing .
for someone who eventually will sell it can be a different story as hopefully the appreciation makes up the lost investment income and growth or beats it
but at 71 and 73 we ain’t selling if we bought .
there is nothing additional buying in either building gets us we don’t have now renting . all we would have is a place our estate would have to pay for until it was sold by the kids . just another headache for them all to deal with when the last of us goes .
so not much interest in it at this stage.
if we did we would have bought a decade ago.
only way we would likely buy is if we left the state and the equation looked differently. otherwise we don’t need any headaches and expenses of ownership anymore , at least here in ny
elsewhere is different because i wouldn’t want to live under the control of a small time wanna be landlord … unlike here that is usually what renting entails .
here who the owner is , is transparent to life in more than half of all rentals that are in buildings … we have full time maintenance on premise 24/7 ….guaranteed renewal , etc .. very different then elsewhere where that small, time landlord is involved in your life
Last edited by mathjak107; 03-17-2024 at 10:25 AM..
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