Hey everyone, I just heard about this crazy story and had to share! This couple in Brooklyn hit the jackpot with the NYC housing lottery. They got their hands on a two-family house that’s worth over a million bucks, but only paid $690,000 for it. That’s like a 37% discount!
I’m super curious about what the inside looks like. Has anyone here ever won something like this or know someone who has? What do you think about these housing lotteries? Are they really helping people or just creating more competition?
Also, I’m wondering if there are any catches to winning something like this. Like, do they have to live there for a certain amount of time? Can they rent out part of the house?
If you’ve got any insights or just want to chat about it, drop a comment below. I’m all ears!
Yo, that’s some crazy lottery luck right there! 
I’ve got a buddy who actually won one of these housing lotteries a couple years back. Not as big as this Brooklyn score, but still pretty sweet. He said there were definitely some strings attached though.
From what he told me, they make you jump through a bunch of hoops to prove you qualify. Income limits, background checks, the whole nine yards. And yeah, there’s usually a rule about living there for a while before you can sell. Makes sense I guess, stops people from just flipping 'em for quick cash.
As for renting part of it out, I think it depends on the specific lottery rules. My friend wasn’t allowed to, but maybe it’s different for a two-family place? Either way, getting a million-dollar crib for that kinda discount is insane in this market. Talk about a game-changer!
Just makes me wonder how many people are out there desperately trying to win these things, you know? Like, for every happy story we hear, there’s probably thousands of folks still struggling to find affordable housing. It’s cool that these lotteries exist, but man, the whole system feels kinda messed up when you think about it.
I’ve been following these housing lotteries for a while now, and they’re definitely a mixed bag. While they can provide incredible opportunities for some lucky winners, they also highlight the severe housing affordability crisis in nyc.
from what i understand, there are usually restrictions on reselling or renting out lottery-won properties for a certain period. this is to prevent people from flipping them for quick profit. the exact terms vary, but it’s often around 10-15 years.
one concern is that these lotteries don’t address the root causes of the housing shortage. they’re more like a band-aid solution that helps a tiny fraction of people while leaving the underlying issues unresolved.
i believe that for the winners, it can be truly life-changing. a $400k discount is no joke in today’s market, and it could mean the difference between staying in the city or being priced out entirely.
wow thats insane luck! i’ve applied to a few lotteries but never won. heard theres usually income limits and you gotta live there for like 5-10 years. wonder if they can airbnb part of it? either way, scoring a mil+ house for that price is crazy good in nyc. hope they enjoy it!