The result would be a sharp falloff in construction of rental property and especially in high cost areas, unavailability, at least as a rental, of much if not most of existing housing stock.
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It’s not. And to grant indefinite leases at tenant discretion is an unconstitutional taking that will soon be ruled as such.
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Somehow I don’t think you actually believe “Black lives matter” if you’re actively hitting a Black man as you say it.
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How do you suggest getting the housing built if you’re placing it under rent stabilization?
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Regardless of whether that’s true, it’s an unfair competitive advantage that should not be allowed in the division.
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It’s cartoonish that you speak the way you do while not understanding what constitutes a shortage.
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So you want to tax the rich so you can…line the pockets of developers and landlords so they’ll offer housing despite your rent controls?
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It’s actually much higher as the article notes the 13k figure only represents units landlords chose to register as vacant.
Why is there no real push to end the IAI cap as this is investment for tenant benefit and cap removal would get many if not most of these units back online?
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Can’t speak to any transphobia on the part of the athlete, but she’s correct that the trans woman possesses an unfair competitive advantage in a women’s division. That’s what should be the focus here.
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The rent reflects that the apt has likely been continuously rented for a long stretch and is rented at a price point well under the cost to offer it.
It’s a problem when housing policy dictates the best move for owners of the most affordable housing is to let it sit unavailable.
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SCOTUS determined those cases were not the correct vector to review rent stabilization law, however, in their February denial of cert, they gave guidance regarding the future case likely to prompt such a review. That case is currently pending before them.
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How would quality maintenance be the expectation when the policy itself discourages it whether the money for it is available or not?
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1. This kind of action suggests strongly that the family is all about money and not George’s memory.
2. To prove the case, you would have to prove that Ye’s comments were 1) a lie and 2) damaging. I doubt either could be proven.
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Except the money isn’t there to build those homes, especially with his stipulations attached, and the result of his policies will be less housing availability, esp at lower price points, & higher market rents than we have now.
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Strike implies you’re giving up something to obtain concessions of some type. When you stop behave based on your own self interest, in this case discontinuing plans you see as no longer profitable, that’s a business decision and not a capital strike.
Was this all Ryan Companies?
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Maybe you should ask this guy.
thehill.com/homenews/adminis…
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You’re misinterpreting. The NBA is part owner in the league. They’re taking a loss every year, not taking 42.5% off the top.
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Exactly. If I make $160k/yr, I’m likely ineligible. If I inherit $50M but can show a year with an income below the required level, I’m eligible.
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Problem for Zohran is he’s not cutting into those first place Cuomo votes at all. Plus they’re in a virtual dead heat on gains if they’re not #1.
As long as Cuomo is near 40%, & that hasn’t changed, he wins in a rout.
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Correct. It’s highly unlikely it gets your rent burden under 30% but may very well get you to 55%. Doesn’t solve your problem but it moves you in the right direction.
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True leadership would have been if she noted that she was eligible to compete in the women’s division under NCAA rules but elected not to due to the unfair performance advantage involved.
Competing with that advantage is neither leadership nor admirable.
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What propaganda? All you need to understand is the consequences of rent control policy. Didn’t need to hear a thing from the campaign. The ballot measure speaks for itself.
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Prop 33 would have worsened housing for the vast majority of renters, especially future renters.
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It’s not punishing anyone to allow athletes to compete only in divisions where they don’t possess an unfair competitive advantage.
It IS punishing others in the division to allow athletes into it who possess that advantage, particularly one the division is set up to exclude.
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Not unconstitutional at all. It’s a requirement to enter the subway station just as it is to enter a courthouse, take a flight, or a Yankees game. You don’t have to consent. You just can’t go in if you don’t.
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NYC uses different terms for its 3 forms of rent control (4 if you count affordable housing and pre-1974 rent stabilized separately). Those are two of the types.
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So what’s the plan to fund this housing people rely upon? Or are we just going to watch it fall apart or be warehoused?
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Some places don’t need construction now (Nashville) but will soon enough.
Others (NYC which is short by hundreds of thousands of units) desperately need construction but won’t get it under your proposal because their break even point is well above $2k/mo.
It’s a disaster.
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There wasn’t any mention of a specific rent as I recall scrolling up. All it means is they determined their best move was letting the unit sit over making the investment to keep the unit available.
This isn’t a matter of keeping up with maintenance but of a revenue restriction.
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Perhaps it was “near impossible” because they were gathering signatures in support of terrible policy.
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Why should your housing be indefinitely subsidized in the city with the nation’s highest rents?
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That’s the literal opposite of what science proves.
bjsm.bmj.com/content/55/11/5…
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Thanks for making it clear you lack any understanding whatsoever of basic economic principles.
But of course through this conversation we already knew that, right?
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Then they’re ignorant.
Zohran’s policies mean fewer rent stabilized homes available, & when those rare units come available, they’re not going to middle class folks with average credit.
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Rent stabilized pre-1974 units having growing profits and having programs to stay solvent are two such things.
We’re losing thousands of these rent stabilized units as it is. A freeze, especially a multi year freeze, will greatly accelerate that loss.
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Outrage over what? The outrage would have been over them collecting premiums then not being able to pay out claims when something like this hit. They made the responsible on this one. This is on California regulators.
Any outrage directed at State Farm on this one is misplaced.
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Having more supply lowers the costs of what’s there.
Adding those more expensive units may increase the mean and/or median rent but it will make existing units more affordable.
If rents are $2k/mo and you add 25% more units at $4/mo, the cost of current units may hit $1750.
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1. What it tells us is the unit is at that rent bc rent regs have made it insolvent for years.
2. They could quite likely triple the rent just by cleaning up the debris…if it was legal. No matter how nice it is & how they invest, they can’t exceed $934/mo w/vacancy control.
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A 6.7% drop is no “drop in the bucket”, especially when you understand the drop in real dollars is closer to 10%. If you’re wealthy enough to not care about such a substantial drop, congratulations to you.
Want a multi-year lease? Some owners will oblige.
Rent stabilization…
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If that many folks aren’t paying rent and are occupying badly needed housing, it’s no wonder so many landlords are struggling and so many tenants are facing such high rental costs.
“Good cause” would only further squeeze that supply and make any new housing even more expensive.
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I get it. Apparently you don’t. A shortage doesn’t mean you can’t access housing. It means you’re going to be paying a higher cost than if that shortage didn’t exist.
Without some vacancy, there’s a lack of mobility for folks. ICYMI, you can’t move into an occupied residence.
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His biggest challenge may be party affiliation. Many voters go with the party line. Tough to overcome that. Though I agree.
Adams would improve the current trajectory…just a bit. Cuomo would continue the current trajectory. Zohran would greatly worsen it.
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Ivermectin is a treatment for parasitic diseases in humans. These are far more prevalent in nations with sanitation issues. Because treatment of the parasite leads to a healthier person, that person may fare better vs COVID-19.
Ivermectin has no role in treating COVID-19.
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Correct. They’re two different versions of rent control in NYC and misleadingly named. NYC actually has 3 versions (4 if you count 421-a separately).
All cities should have zero.
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That wasn’t it at all.
Prop 33 didn’t impact the statewide rent control that already existed. It prohibited the state from restricting local communities in their intro of rent controls in any way. The more localities take advantage, the less housing is made available for rent.
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Owners can only ask for what the market will bear. Otherwise they’ll be losing money with vacant units. Also, the more market rate units are available, the more downward pressure on rents.
If we don’t build MR units, where will NYers live as rent stabilized units disappear?
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Please share where he has walked back previous statements.
Even recently he’s talked about replacing some NYPD duties with social workers and similarly trained folks.
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It will result in much less housing being offered…and higher rents.
State Sen. Julia Salazar’s landmark bill, “good cause” eviction, has been tied as a key tenet to any housing deal the state Legislature passes. The bill prohibits eviction without a “good cause,” guarantees lease renewals and limits rent increases.
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1. Not conservative but do believe in people’s constitutional rights.
2. If someone is trying and can’t afford their basic needs, I’m for guaranteeing them the ability to do so including revamped vouchers to cover the gap to afford basic housing.
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Not when he’s attaching rent stabilization to all the new housing. That’ll just mean developers turn down the opportunity.
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Right. There are dozens of new apartments being built in each borough. The problem is that thousands are going away either through natural loss or rent stabilized units becoming indefinitely unavailable. Meanwhile NYC needs HUNDREDS of thousands of available units.
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People reported fewer crimes. That’s not the same as less crime occurring. When you send someone who isn’t taking those reports, that’s going to happen.
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Having athletic competition where some athletes don’t have an unfair competitive advantage over the rest of the field is not transphobic.
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The more housing there is, the less leverage owners have to market only to the wealthy with great credit.
But if you think those are the only people who deserve housing, then keep ignorantly arguing that there’s no shortage so you never understand the problem.
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Yes. They are.
But thanks for the laugh of you complaining about a class based system then looking to divide workers into classes.
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Owner NOI was way up in lower Manhattan due to higher market rate rent that had been depressed by COVID. For rent stabilized buildings everywhere else in NYC, they were down - WAY down!
In many cases owners are losing money even before mortgages or investments in a building.
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Is the goal to piss off Trump or to elect the best possible mayor for NYC? Because I was under the assumption it was the latter.
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It’s 11 straight years below inflation at a time when operating costs are almost always increasing above inflation.
That’s 11 straight rent rollbacks in real dollars, Jess.
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He also literally argued that the advantage can’t be significant because there aren’t many elite trans and athletes. How someone could think such an argument follows any logic whatsoever is impressively ignorant, so nothing he says will surprise at this point.
Given there's so few transgender people anywhere near the top of sport, I'd argue it's self evident there's little advantage.
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Rent control is government saying, “These people deserve help, but we don’t care enough to do anything about it so…YOU help them!”
If society believes help is needed, society needs to step up, not dump responsibility on a subgroup of property owners and perhaps other renters.
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What do you expect? They’re forced to continue offering properties for rent despite in many buildings not being allowed to take in enough rent to cover expenses including maintenance.
What is the plan as more owners walk away from buildings?
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An emergency has lasted 50 years and you expect it to last another 50? That sounds like a reason to change course.
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They literally just moved it to the middle school section of the library rather than the elementary. That’s it.
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Rent stabilization IS rent control. It’s absurd enough that NYC has rent control, but it actually has FOUR different versions of rent control.
And Zohran in his infinite absurdity wants to expand it.
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Not allowing entry into a division where doing so would result in an unfair competitive advantage over other individuals, even aside from safety questions, is not attacking anyone.
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These are rent stabilized units, not median market units. These units have a median rent under $1500/mo, less than half the median.
Stupid is policy forbidding the City’s most affordable housing from being viable, driving the unavailability of those units & upping market rents.
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Policy uses incentives to incentivize certain behaviors. To pretend that isn’t the case is naive at best.
Normally owners have incentive to maintain/invest to attract/retain tenants & maximize revenue. With RC/RS, that goes away & owners are perversely rewarded for turnover.
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Basic supply and demand economics is “libertarian trickle-down nonsense”?
Do you not understand it or does it not fit your preferred narrative?
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Except rent control doesn’t make housing more affordable. It makes it more scarce and of lower quality with folks being left out of markets and homeless because of it.
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Not necessarily. It’s whatever the two parties agree to. She can accept or decline. And as crazy as it may sound, she needs him more than he needs her.
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In real dollars those were all rent decreases. The defunding of rent stabilized units continues to drive their decay and unavailability.
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I can’t tell if you don’t understand the issue or you’re being disingenuous.
If it was only $25k to get these units back on the market, they’d likely be available already. They’re unavailable because the allowable rents don’t justify the cost. Also, the program requires…
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People who understand basic economics and make comments based on that understanding that is superior to that of the “professor” are “bad faith posters”?
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They’d be less likely to be displaced from the area if you make the housing more affordable through increased density than without doing so.
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