De Blasio official dismisses commercial rent control idea
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Premise behind rent control and later stabilization was that the government needed to step in to address an residential housing "emergency"; that is a shortage of apartments.
The irony is that government price ceilings create further shortages. So the politicians who enacted rent stabilization/control made the problem worse. A few people benefit at the expense of everyone else. And those that benefit are vociferous defenders of the status quo (as can be seen on this message board).
The cure to the housing shortage is to transform the NYC housing system into a free market. (Currently only 39% of residential rental units are market rate.) That would involve repealing price controls, easing regulations such as landmarking and zoning that discourage building, and lowering property tax rates on rental housing. Markets naturally address shortages, because the rate of profit becomes higher than in other sectors. That encourages businesses to invest in that sector and increase supply.
Improvements to the transportation infrastructure would also help ease the housing supply. If someone could quickly and easily commute in from further away, that would open up whole new areas for housing. Despite paying some of the highest taxes in the nation, there have been few major improvements to transportation in decades.
I am also opposed to price controls on commercial real estate. I was pointing out the inconsistency of the de Blasio administration being for price controls in the residential sector while opposing them in the commercial sector. Interestingly, on this board, there are people who desire price controls in both residential and commercial.
Um no that's not true if the people decide to seize a bank because that's what the majority of people want then that IS democracy. Democracy does not entail property rights. In fact property often corrupts democracy. Originally in America you needed to own property to vote because the rich were afraid of the masses having power. Today, those with property use their assets to influence all elections while those without property get stomped on.
Hitler was elected by a popular vote. What if the masses wanted slavery back? What if the masses decided they wanted to invade Canada by force of arms? People can be (often are) dead wrong. I believe the first and foremost calling of society is to protect each and every individual's human rights. And private property is intrinsic to that.
The irony is that government price ceilings create further shortages. So the politicians who enacted rent stabilization/control made the problem worse. A few people benefit at the expense of everyone else. And those that benefit are vociferous defenders of the status quo (as can be seen on this message board).
The cure to the housing shortage is to transform the NYC housing system into a free market. (Currently only 39% of residential rental units are market rate.) That would involve repealing price controls, easing regulations such as landmarking and zoning that discourage building, and lowering property tax rates on rental housing. Markets naturally address shortages, because the rate of profit becomes higher than in other sectors. That encourages businesses to invest in that sector and increase supply.
Improvements to the transportation infrastructure would also help ease the housing supply. If someone could quickly and easily commute in from further away, that would open up whole new areas for housing. Despite paying some of the highest taxes in the nation, there have been few major improvements to transportation in decades.
I am also opposed to price controls on commercial real estate. I was pointing out the inconsistency of the de Blasio administration being for price controls in the residential sector while opposing them in the commercial sector. Interestingly, on this board, there are people who desire price controls in both residential and commercial.
Why do you think the city wants to cure housing shortages? If anything they benefit from the high cost of real estate here, as well as the high real estate taxes.
With that said improvement to transportation infrastructure should happen. Actually in this capital budget that just got funded is money to take the two Amtrak tracks on the West Side of Manhattan and turn them into Metro North stations that go to Penn Station. Also the Amtrak tracks that go across from the Bronx to Queens to Penn Station will also be turned into a Metro North line. Phase one of the Second Avenue Subway opens up next year, and phase two recently got funded.
Um no that's not true if the people decide to seize a bank because that's what the majority of people want then that IS democracy. Democracy does not entail property rights. In fact property often corrupts democracy. Originally in America you needed to own property to vote because the rich were afraid of the masses having power. Today, those with property use their assets to influence all elections while those without property get stomped on.
Am sorry but that is flat out incorrect.
One of the largest classes and beneficiaries of various policies in NYS and NYC are small residential property owners; one, two and up to four family homes. The property tax code is designed to tippy-toe around them because elected officials both in Albany and locally fear stirring them up a majority of who are "middle class".
This group turns around and "stomps" on renters who live in buildings that are deemed by state and local governments as commercial property and taxed accordingly. Co-op shareholders are treated as "renters" for tax purposes for pretty much the same reasons; no one in government wants to tick them off either.
Everyone and their mother in Albany and NYC government *knows* our byzantine and archaic property tax system is a hot mess, but no one has the balls to take on the middle class residential property owners, so there you are. Indeed even now the City Council and mayor de Boob are trying to find ways to give that class "relief" from the effects of small increases in property taxes. Increases by the way that are mainly a result of a good thing; rising home/land values.
To listen to the common parlance today, democracy is ONLY corporate rights. For example, extending "democracy" to one of our newly sworn enemies means little more than establishing domination by corporate power at the business end of a rifle.
Real democracy, aka the power of the people to decide EVERYTHING, populism, is mortally feared by the United States wherever it exists because it threatens the Corporatocracy.
Property rights are conveyed to those who own property by virtue ONLY of the social contract that allows it. It is not "God-given," nor is it an inalienable right, no matter what 9 old farts bought at a high price say.
Last edited by Kefir King; 10-27-2015 at 07:20 AM..
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