Thursday, September 28, 2006


Couldn't Happen To A Nicer Bunch Of Predators

About a month or so ago, MetLife decided to sell off its Peter Cooper housing project -- the last bit of decent housing in New York City that was actually affordable by middle-class wage earners -- for $5 billion to an entity intent on jacking up the rents to force out the people living there so said entity can chase after the upscale market. However, there are questions about whether MetLife can do this with property that was gifted to it for free. In any event, the people to whom MetLife wants to sell Peter Cooper may soon be hoping like hell that the deal is killed -- as the NYC real estate market is, like that of the rest of the nation, dying like a dog.

Thanks for the link to my rambling Labor day post about the two Americas, working people and the Met Life sale.

Also, thanks for the update. I hadn't seen that. Hope Schumer is right and they can stop them. While I no longer live in New York, I have fond memories of when I did. Anything that makes that city less livable is bad.
real estate horror is the #1 reason why nyc is off my list of cities in which to live. i'd love to, but i'm not going to commit to working three jobs just so i can share a closet with four other people somewhere in a 'hood i'd enjoy.

there comes a certain point when you just have to weigh what your life is all about, and spending 80% earning money to pay for a tiny apt with few amenities make little sense to this flatlander.
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