damnatio_memoriae

damnatio_memoriae t1_j6l6bn7 wrote

OT abuse definitely happens with MTA. There was a group of MTA employees a few years ago who literally setup a man cave with couches, TV, video games, and beer in some hidden back room in one of the stations and they would go there and hangout while charging OT.

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damnatio_memoriae t1_j64mrs7 wrote

sure but that's different. that happened because people left the city en masse, not because they built too many units -- and it didn't last. it happened post-9/11 too. demand for housing here is driven by the desirability of the city itself more than anything. when the city is desirable, which is like 98% of the time, then they can charge whatever they want and keep units vacant or off the market. when the city isn't desirable, they offer a couple months free and then rent goes right back up.

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damnatio_memoriae t1_j62mu7i wrote

that's always the hope but have we ever seen that actually happen? i haven't seen it in my lifetime. these days giant real estate corporations control the supply. they can keep it low and prices high simply by sitting on units and not putting them on the market, and then use those vacancies to claim losses. it's a win-win for them to keep rents high even while building more units.

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