Posted on 02/13/2020 5:49:21 AM PST by karpov
Progressives in the state Legislature aren’t done damaging the city’s housing market — indeed, they’re now aiming to slam the entire state.
They’re looking to impose universal rent control — subjecting every Empire State apartment to rules that say that rent hikes are “unreasonable” if they exceed 3 percent, or one-and-a-half times the inflation rate.
The “Good Cause Eviction” bill would prohibit landlords from evicting tenants in nearly every market-rate apartment without first showing “good cause.” Tenants could fight evictions if they say they can’t pay such an “unreasonable” rent.
Right now, roughly a million apartments in the city, all in buildings that went up before 1973, are rent-regulated; this would effectively extend it to 2 million units — and anything built in the future.
More, the limits would be harsher: For example, the (Mayor Bill de Blasio-controlled) city Rent Guidelines Board last year estimated that rent hikes of 4.75 percent were needed to let landlords keep up with their rising costs.
The Legislature last year made it harder for landlords to cover their costs for modernizing rent-stabilized units and buildings, a reform that’s already forcing them to take hundreds of apartments off the market.
(Excerpt) Read more at nypost.com ...
Axiom 1 of the Multiverse:
Liberals ruin EVERYTHING they touch.
Taking a cue from Red China, maybe next New York will impose a law that no family can have more than one child.
First comes socialism (”progressive”), then comes poverty, then for the ignorant and gullible, more socialism (more “progressive”).
BTW for those who didn’t know, the political meaning of the term “progressive” basically means socialism (government take-over of your life) going all the way back to the mid-1800’w.
Universal rent control is tall order even for the left..The Universe is big enough as it is but its even expanding as we speak
They touch everything.
Rent Control = fewer places available to rent (housing shortage)
How is this even Constitutional?
Why do New Yorkers keep electing these communist?
Why would anyone own rental property in New York?
Lot of question, no answers.
For you slow lib lurkers out there, I could add a sarcasm tag or I could just point you to that key word "former"...
Because it worked so well the first time /s
https://www.city-journal.org/html/hidden-cost-housing-madness-12785.html
Expect decaying apartments landlords can no longer afford to fix-up.
Key is OLD rental units, newer buildings aren’t covered under the same laws. Since so many of the buildings date back that far its hard to justify investing in them, but newer buildings are worth their weight in gold now.
Seen the “New Way Forward” bill?
It asks all those DEPORTED since 1996 to “return home”. Regardless of criminal offenses.
:-/
The rent is too d*** high!
Over 10 years rent would go from 1,000 to 1,343. Basically what our mortgages do with a fixed rate, but property taxes and homeowners insurance rises.
Lol. They have laws for that too. Don’t worry, they have all their situations covered.
So glad I don’t live in NY. Feel sad for conservatives that do.
democrat paradise: rent control, $20 minimum hourly rate, racial/gender quotas for all corporate boards of directors, working people taxed to pay for abortion, euthanasia, aids care, and gender “change” operations. One race thrown in jail for uttering certain words. Another race given Oscars for saying them. People fired for not using non-standard pronouns.
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