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Part 1: Weakened Laws and Fragmented Regulation
Affordable housing is vanishing as landlords exploit a broken system, pushing
out rent-regulated tenants and catapulting apartments into the free market
Part2: The Eviction Machine Churning Through New York City
Housing court, a system created to protect tenants, has become a powerful tool for landlords
I don't support rent control. If we had a true free market, rents wouldn't be so inflated. If people can't afford their rents, they need to move to cheaper places.
Even if we got rid of rent control, prices would continue to go up. We've been building a lot of luxury housing, some of those buildings are partially empty. The rents aren't going down. Look at commercial properties, there are a lot of vacant properties because the landlords are waiting for the highest bidder.
Even if we got rid of rent control, prices would continue to go up. We've been building a lot of luxury housing, some of those buildings are partially empty. The rents aren't going down. Look at commercial properties, there are a lot of vacant properties because the landlords are waiting for the highest bidder.
Rents aren't going "down" for luxury housing for reasons myself and others have repeatedly stated; landlords are loathe to lower the official asking rent.
Anyone who has ever sold, priced or whatever anything for business knows the last thing you want to do is lower the floor. Once you start doing that it becomes difficult to raise things back up again as people will (naturally) balk. That is if you lower rent down to $2000/month from $7000 now just to get someone into a space, they very well (and likely will) moan if and or when you attempt to get that rent back up to or near the latter number.
Also lowering official rents or prices lowers actual income earned, which in turn has all sorts of implications. OTOH if you give discounts, promotions and or other incentives those can be managed to have far less impact on total bottom line.
Heck even hoes/prostitutes know this; when business is slow they don't lower actual rates, but often just give something "extra" (time or what) that doesn't involve lowering their official price.
Landlords in NYC have gone through one or more cycles where demand (for market rate) apartments was low, and they in turn rushed to respond with lower rents. It came back to bite them in the behind when market recovered but they were stuck with those low rent paying tenants. People moaned to the media, local government and or anyone else who would listen that their mean old evil LL was jacking up their rent 100% or more.
It seems like rent control is part of what led to the chaotic 70s.
It did, as numbers of new rental buildings declined dramatically after RC laws "expired" and RS came into being. By the 1980's you began to see all sorts of tweaks and changes (including the introduction of 421a and other tax treatments) to induce LL's to put money into their buildings and or for developers to build new rental housing.
Part 1: Weakened Laws and Fragmented Regulation
Affordable housing is vanishing as landlords exploit a broken system, pushing
out rent-regulated tenants and catapulting apartments into the free market
Part2: The Eviction Machine Churning Through New York City
Housing court, a system created to protect tenants, has become a powerful tool for landlords
This is an old article thats been posted here before. Also, consider the source of the article before taking their word as gospel. It's the fake news NY Times for crying out loud. Notorious for spreading propaganda. Very bias, ultra left newspaper. Don't waste your time Cida, throw it in the trash!
This is an old article thats been posted here before. Also, consider the source of the article before taking their word as gospel. It's the fake news NY Times for crying out loud. Notorious for spreading propaganda. Very bias, ultra left newspaper. Don't waste your time Cida, throw it in the trash!
LMAO... Don't expect to do such a thing. She is ultraleft herself... Why do you think she posted the article??
Even if we got rid of rent control, prices would continue to go up. We've been building a lot of luxury housing, some of those buildings are partially empty. The rents aren't going down. Look at commercial properties, there are a lot of vacant properties because the landlords are waiting for the highest bidder.
if we got rid of rent stabilization prices would initially go up like they did in boston .
why ? apartments were renovated like crazy and brought up to date . work permits soared when they ended stabilization .
new will always cost more money then 40-50 year old un-renovated apartments .
our building is higher end and stabilized and nothing has been renovated in stabilized units in 35 years other than appliances
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