Well, one consequence is the complete disappearance of any 1- or 2-year leases in the city.
Essentially a way to grab property from landlords. Deny them the money to repair things then seize it because is broken down.
Gee, I wonder what the ramifications are of a “rent freeze” policies. Do we, per chance, have any historical examples???
Ain’t Communism wonderful, the king has spoken.
This Bernard guy is obviously an enemy of the people.
When will NYC regulators and inspectors be descending on him and his properties?
(I wish I were kidding here, but I’m not.)
If I were a landlord in NYC today, I’d rent or buy as many concert sized Marshall Amps and accompanying speakers as I could fit in the basement and play the islamic call to prayer five times a day at full, bone-rattling volume starting as early as possible
Let Moron Zandami call a halt to that.
Mamdani makes the price of everything in NYC go up and then freezes rents ,LOL
First leg of Mamdani’s Directive 10-289.
“And conveniently, the same city that just passed this rent freeze has also said that they will be taking distressed properties from bad landlords.”
Bingo. When the properties become “distressed” - and Mamdani gets to declare what “distressed” means - the state will grab the property - which was the Prime Directive in the first place.
The death of NYC is necessary for the life of America
The people of NYC totally forgot what they told us they’d never forget. Now, the sheep have voted to be ruled by a wolf.
I shake my head as I watch NYC come apart. My real concern is that this communist movement will spread. I can tell you the young people I know, in the blue part of Ohio, are all in for communism.
Renters in NYC better hope nothing breaks for the next two years.
I’m sure they also froze property and all other taxes associated with owning/renting/leasing property. You know, to be FAIR.
I make myself laugh at the absurdity of even suggesting they might consider doing that.
Couldn’t a legal argument be made that-—
1) denying landlords adequate revenue via rent freezes, where
2) properties are not adequately maintained due to insufficient funds, and
3) properties are then seized by the city for less than they are worth, such that
4) Steps 1-3 then violate the 5th Amendment of the Constitution, the Takings Clause?
Rent freeze but the city won’t freeze taxes.
...and the 25-month lease was born.
As Obummer once said: ‘Elections has Consequences’ and New Yorkers elected a Communist. So New Yorkers, congratulations you got what you wanted...
Hard to believe that any rational investor would commit private capital to build middle class housing within NYC. When investment ceases , detioration soon follows.
92% of the votes went to the left. Enjoy.
If you voted for him, or stayed home, don’t complain. Comply and do as your told.