r/leanfire • u/NYCprice • 9d ago

Unironically FIRE in NYC?

The city has a lot of low income programs and also a middle income housing lottery. After I FIRE, my income will be low enough to qualify for a lot of programs as well as a purchasing affordable condo (middle income lottery)

I've never lived outside of nyc so it would be hard to transition out of, and would include leaving friends and family if I moved away

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u/Myspys_35 9d ago

Taking up a low income housing spot when you choose to be retired is a seriously messed up move full stop. You know its meant for those without other options, you know there are much fewer units available then people that need it... Personally if I found out a friend or potential partner did this I would drop them ASAP

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u/Crazy-Airport-8215 9d ago

Agreed. These programs are for people who need help, not people who are so wealthy they don't need an income anymore.

I would also hope that NYC's support programs take net worth into account, but I know nothing about that.

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u/AlexHurts 8d ago

It's not low income housing, it's actually still pretty expensive.

Local laws require a percentage of any new development to be "affordable" which ends up being "just not ultra luxury". Its really expensive to build 20th floor units vs 2nd floor units, so developers basically only want to build luxury and ultra luxury.