Posted on: August 06, 2024 11:09 AM

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Old timers no break for new comers

This is what's going on in NYC.

With the sky high rent and mortgage interest out of control, financial institutions are all busy with loans given to the naive, especially the legal immigrants forcing them to buy newly created homes after demolishing old homes.

Their only choice is to sublet, rent out rooms and other necessities to pay the high mortgage bill which is easily over $5,000 per month.

Old timers have worked hard and close to paying off mortgages to focus on property taxes so they can relax well.

Most of the elected officials are funded by the financial institutions so they work for them including the affordable housing campaign and not for the people who voted for them.

This is where old timers are uncomfortable with new timers since there is no relaxation in their neighborhood but try to relocate to another state, say, Florida.

Look at the corner of 80th Avenue and 260th Street in Floral Park where a single home in a traditional way demolished with two large homes on the market. Many long time neighbors around that home have sold theirs and relocated to other states.

The Mayor's ambitious project, City of Yes, is moving forward despite oppositions especially Whitestone, Bellerose, Glen Oaks, Floral Park and single zoned neighborhoods.

Follow the money.