Quote:
Originally Posted by Shizzles
It doesn't matter if the vacancy rate hits 50%. The block of voters rent stabilized tenants represents is far, far too large for any politician in most areas of NYC to ever let it go away. They will find a way to keep it in effect, period. The only thing stopping them is the courts, and if so, then they'll pass new legislation instead.
This is simply a statement of political reality.
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Absolutely correct.
I was a one-building landlord for 17 years. Rent-stabilized apartments. I finally got out of that nightmare two years ago. The rent system became even more radicalized after socialist Dems took over the State Senate in Nov. 2018.
Rent regulation is a purely political animal. That's why it's still strangling the housing market 70 years after it was passed as a "temporary" measure during the WW2 housing shortage. And that's why it will NEVER go away, no matter the vacancy rate and no matter the lack of justification. The pols will be forced to do whatever is necessary, as you stated, to keep it in effect. Because if they don't, there is a massively powerful lobby which will end their career in the next Dem primary. Sad for the city as a whole, its tax payers, and market tenants.
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