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“This one is getting delusional, he cant just make up laws and snatch property.”

He’s using the Barak Obola Method! He has a pen and a phone. I know that there are probably some slumlords in NYC, but if their rent control laws are anything like they are here in SF, it’s the landlords who are most likely taking in in the shorts. We have friends who just sold a multi-tenant property in SF. There were several reasons not the least of which is the fact that you cannot get rents, under rent control that allow you to maintain your property and get any kind of return on your investment. Plus the city is forever forcing you to do “upgrades” to guard against earthquakes, that are anything but cheap. Our friends 1031ed their property into rental property in Nevada, where they live, and which is one of the few states that does not have a state income tax. The other consideration is just how long are RE prices going to continue to escalate when you have a continuing exodus of people with money and brains coupled with the out of control “homeless” problem. When the CA RATs “vision” for the state comes to fruition, I just have to wonder if the burgeoning low-IQ Hispanics are going to adversely affect housing prices.