Tenant in $100 per month NYC rent control apartment “I’m never leaving “ (Putin, dollars)
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Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
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Quote:
Originally Posted by RMESMH
The envy (combined with people being just fine with laws that restrict freedom) running through this thread is astounding.
Most people are not going to be sympathetic to people charging a price that almost no one can pay for housing, a necessity; so it's not surprising to me. Most people don't have a Swiss Bank Account that they can just reach into....
Most people are not going to be sympathetic to people charging a price that almost no one can pay for housing, a necessity; so it's not surprising to me. Most people don't have a Swiss Bank Account that they can just reach into....
Then they need to live elsewhere and commute, as many people do. What the market will bear. If no one can pay the astronomical rents you imagine owners charge, guess what happens? Rents come down until people will pay the price.
Good grief! You should see how many people commute to the Loop (Chicago) to work there because rents are so pricey in the area. Most of the people who work there live elsewhere and commute. Same with NYC, and same with Washington, DC. The majority are mass transit commuters.
The Prevailing Rental cost in a Free Market would actually be a lot lower.
The Banking Scum, Flippers and Home Owners that use their home as a Piggy Bank are the ones that benefit from artificially elevated housing prices.
They purchased politicians to rig the housing market in their favor with codes, zoning, wall street ponzi schemes and various enforcement's.
They encourage foreigners to come in and buy up property.
This all puts upward pressure on housing prices.
In a Free Market, I could build a cheap shack next to a wealthy neighborhood and lower their property values.
It is funny how when it comes to wages people support the free market, but when it comes to housing, they hate the free market and want to artificially keep prices elevated so they can make bank and then wonder why no one can afford to live in these places.
Bingo! When people talk about the market rate they are talking about a heavily manipulated and artificially inflated market rate, not a "free market" rate. And then millions of people who were born in these areas, who lived their entire lives in these areas, and now find they can no longer afford to live in these areas are told glibly to "move to flyover country".
What makes people think "flyover country" wants all of the economic refugees from these unaffordable cities anyway? If jobs are so tight in flyover country the last thing they need is an influx of people with low job skills from the more populated parts of the country. They're already having to compete with illegal immigrants and H1B's for those scarce jobs.
Just as America in general(and much of the west, really) is being used as a relief valve to take care of social pressures in third world nations, people expect the American hinterland to act as a relief valve to take care of the social pressures that are growing in severity on the coasts. What will act as a relief valve for our planet?
Most people are not going to be sympathetic to people charging a price that almost no one can pay for housing, a necessity; so it's not surprising to me. Most people don't have a Swiss Bank Account that they can just reach into....
So impose rent control -- and then what do they do when a unit turns over? Charge even more astronomical rent as a hedge against their inability to raise them again indefinitely. The fact that the rental unit just became even MORE out of reach for those in need is but a mere inconvenience as long as you stick it to those greedy landlords, amirite?
Most people are not going to be sympathetic to people charging a price that almost no one can pay for housing, a necessity; so it's not surprising to me. Most people don't have a Swiss Bank Account that they can just reach into....
Obviously people can afford to pay it since they do. No one is entitled to anothers property.
Even those of you that believe that rent control is a fair and wonderful thing for people like the lady in the op...do you also think the fact that a 'rented' property should be granted rights of succession?
Should be this simple:The owner of the property draws up a lease, the tenant agrees to the terms and signs it. Both parties now have protections/recourse should the other not adhere to the terms. Done deal.
Even those of you that believe that rent control is a fair and wonderful thing for people like the lady in the op...do you also think the fact that a 'rented' property should be granted rights of succession?
I amazes me that so many arguing against rent control where there is a contract in place that spelled out the issues such as succession when the apartment was rented...
and yet they are totally happy with the Second Amendment's broad access to weapons of mass destruction on a personal level because this "contract" written in the 1700s was totally unaware of future changes in fire power and they object to any limitations or revision to that right to bear arms...
They think the laws regarding rent control apartments are "unfair" to property owners who are not able to maximize their profit potential--
Yet don't see any lack of fairness in literal support of the 2nd Amendment and the threat that unfettered gun ownership brings to America at large...
I amazes me that so many arguing against rent control where there is a contract in place that spelled out the issues such as succession when the apartment was rented...
and yet they are totally happy with the Second Amendment's broad access to weapons of mass destruction on a personal level because this "contract" written in the 1700s was totally unaware of future changes in fire power and they object to any limitations or revision to that right to bear arms...
They think the laws regarding rent control apartments are "unfair" to property owners who are not able to maximize their profit potential--
Yet don't see any lack of fairness in literal support of the 2nd Amendment and the threat that unfettered gun ownership brings to America at large...
It's not about maximizing profits. It's about being able to meet basic costs like real estate taxes, maintenance, etc. So, while some apartments are rent-controlled, the rent on those that are not have to be jacked up sky-high to make up the costs of ownership.
My previous landlord in manhattan bought his townhouse in the 1970s for a pittance. I'd guess he paid around $100,000 for the upper east side townhouse. (he sold this townhouse for 15 million dollars within the last few years.) our landlord once told me he and his wife rented a 4 bedroom upper west side, rent controlled (not rent stabilized) apartment for decades. we paid market rate rent to our landlord for the use of his townhouse. his landlord, on the other hand, received pennies on the dollar from his multi-millionaire, elderly tenant because he had been renting this four bedroom apartment under rent control for decades.
a government controlled rental market favors the lucky not the poor, but the law won't ever be changed as the voters aren't electing officials that would do that.
Very true. I lived in New York and remember when Rent Control came up for renewal in the 1990s. The Times had a map showing the largest amount of rent controlled units and it was not the Bronx, Bed-Stuy, or any other then distressed area.
It was the Upper West Side.
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