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Message
re: NYC officially approves a rent freeze for up to 2 years
Posted on 6/26/26 at 8:52 am to biglego
Posted on 6/26/26 at 8:52 am to biglego
quote:
"For years, landlords have run this city, and this is a new era of tenant power. We have a rent freeze mayor. Hundreds of people came out and testified, thousands online. Landlords' days are over; tenants are in power now and it feels amazing," said K Agbebiyi of the Tenant Bloc.
Why should a tenant have the power over a landlord that owns the actual building? Tenant's sign contracts or when contracts expire they can move. If landlord can get someone to pay higher rent, that's great for him, that's business.
Such a shame what's happening and will continue to happen to New York. Such an amazing city during good times.
1
Posted on 6/26/26 at 8:53 am to RLDSC FAN
I slays thought in a lease rents couldn't be raised until the lease was over.
Posted on 6/26/26 at 8:54 am to UptownJoeBrown
quote:
Lots of apartment buildings going up for sale. The money is leaving NYC.
Fox just did a story on this. Ms. Bonanno listed her two buildings weeks ago and quit the board in protest. They said she hasn’t had one inquiry to buy.
This is going to backfire so spectacularly. There will be vacant buildings soon.
Posted on 6/26/26 at 8:56 am to NolaLovingClemsonFan
quote:
I don’t know how you fix what’s going on in NYC for anything close to affordable rent.
What needs to be fixed? Landlords will charge what people are willing to pay. If you can't afford it, live somewhere else. If the landlord can't find tenants, they'll lower rent.
Let the market work.
Posted on 6/26/26 at 8:56 am to RLDSC FAN
OT is very anti price controls. Unless it’s electricity. Then they turn full commie.
Posted on 6/26/26 at 8:57 am to RLDSC FAN
quote:
Sounds like at renewal
Thanks, that's what I figured but it wasn't specified in the article in the OP.
Posted on 6/26/26 at 8:58 am to wryder1
quote:
People trying to fix it is what got it in this situation to begin with. The answer isn’t try and fix it but rather take the red tape and government shackles off and let the market fix it. Another way of fixing it is to quit bringing in millions of foreigners to change the demographics and voting habits. The high rent is due to high demand, which was caused by flooding the country with illegals, H1B visas, and “refugees”. Clear out those 3 categories from the city and I bet you see a lot of positive economic and social changes.
They can still invite all the foreigners they want they just can't subsidize their living expenses - it's really the first part of your post. Just let the market work. If the foreigners can't afford it, let them move somewhere else.
Posted on 6/26/26 at 9:00 am to stout
quote:
Mamdani lived in a rent-stabilized apartment in Queens for 7 years, paying about $800 per month less than the market rate.
And comes from a ton of family money. He's an example of a guy that SHOULDN'T pay less than market and was gaming the system.
"Yes I can afford higher rent, but no I won't pay it, the landlord should eat that cost"
Posted on 6/26/26 at 9:02 am to CatfishJohn
This pattern will happen every time progs take charge. They’re communists, after all. Third world communism is what they’re going for.
Posted on 6/26/26 at 9:04 am to biglego
quote:
This pattern will happen every time progs take charge. They’re communists, after all. Third world communism is what they’re going for.
At least Mamdani openly admits he's a white hating Muslim socialist, the only thing I respect him for. He says who he is and what he wants to do.
Just scary so many people support it.
Posted on 6/26/26 at 9:06 am to loogaroo
It's all by design.
When property owners can't afford to make repairs to their buildings, the city will confiscate the property.
When property owners can't afford to make repairs to their buildings, the city will confiscate the property.
Posted on 6/26/26 at 9:14 am to Jake88
quote:
quote:
"This is no longer just a city that's a playground for the rich," said tenant Lex Rountree.
That's all it took? Ol' Lex won't be bitching about some other class issue next week?
To be named "Lex" and to be just a lowly tenant and not the rich slum lord on the other side of this issue makes this guy a terrible disappointment in his parents' eyes, no doubt.
Posted on 6/26/26 at 9:18 am to cbree88
It's been whispered that the mayor's real goal is for property owners to give up ownership of their property & socialists to come in & scoop up the property, over time the properties being taken over by the City.
Posted on 6/26/26 at 9:22 am to NukemVol
quote:
OT is very anti price controls. Unless it’s electricity. Then they turn full commie.
Probably has to do with electric companies owning monopolies over a given region. There's no option for a competitive free market. If you live in Jefferson Parish, your choices are Entergy or candle light.
Posted on 6/26/26 at 9:37 am to Tiger Prawn
quote:
Probably has to do with electric companies owning monopolies over a given region. There's no option for a competitive free market. If you live in Jefferson Parish, your choices are Entergy or candle light.
What if I told you that deregulated markets rates are 50% higher and increasing twice as fast as those regulated monopolies you hate? But it will collapse if you force them into maintaining bottom rates because the 60 year plants that are the backbone of the current grid in these markets are literally falling apart because they were designed for 40 years.
Edit: off topic but found the parallels of price controls bad vs price control good interesting. Go back to bitching about price controls.
This post was edited on 6/26/26 at 9:39 am
Posted on 6/26/26 at 9:48 am to RLDSC FAN
That rent freeze is only for the rent-stabilized apartments.
And from what I understand, that "rent-stabilization" thing is basically a pretty fricked up thing that really benefits wealthy people the most. It applies to families who have continuously owned the same apartment since 1974, which in practice is usually the wealthiest people. Even middle class families will often have gone through some period in the last 52 years where they lost their job, temporarily ended up in poverty, and either got evicted or had to leave their apartment in order to avoid eviction. So you basically have to be from a family that's wealthy enough to have withstood all of the family's period of unemployment or underemployment over the last 52 years in order to be in a "rent stablilized" apartment.
So basically Mamdani is giving even more benefits to the city's richest apartment dwellers. Horray for socialism!
And from what I understand, that "rent-stabilization" thing is basically a pretty fricked up thing that really benefits wealthy people the most. It applies to families who have continuously owned the same apartment since 1974, which in practice is usually the wealthiest people. Even middle class families will often have gone through some period in the last 52 years where they lost their job, temporarily ended up in poverty, and either got evicted or had to leave their apartment in order to avoid eviction. So you basically have to be from a family that's wealthy enough to have withstood all of the family's period of unemployment or underemployment over the last 52 years in order to be in a "rent stablilized" apartment.
So basically Mamdani is giving even more benefits to the city's richest apartment dwellers. Horray for socialism!
This post was edited on 6/26/26 at 9:55 am
Posted on 6/26/26 at 10:11 am to RLDSC FAN
Where replacement theory meets the asphalt.
Posted on 6/26/26 at 10:27 am to UFFan
quote:
That rent freeze is only for the rent-stabilized apartments.
And from what I understand, that "rent-stabilization" thing is basically a pretty fricked up thing that really benefits wealthy people the most. It applies to families who have continuously owned the same apartment since 1974, which in practice is usually the wealthiest people.
This is far from correct.
People living in rent stabilized apartments are renting them. They're not condos. Wealthy people aren't renting rent stabilized apartments.
Rent stabilized apartments are only in buildings with 6 or more apartments. The vast majority of the 4 or 5 story buildings in the city are not officially rent stabilized since they (usually by design) only have five apartments with the same address. The buildings with rent stabilized apartments are mainly 50-500 million dollar real estate.
Also, rent stabilized apartments mostly remain that way even when someone moves out. There's a huge "lottery" by the NYC housing commission that most New Yorkers sign up for -- some to just see what they may get offered -- which constantly fills vacated ones.
The best way for opposing politicians to take the wind out of Mamdani's sails is actually doing something about private equity swallowing up block after block of the city and just as often leaving buildings empty for years because it's worth more to them on paper with a market value no one actually pays.
This private equity issue is actually even worse, in my opinion, for retail space than housing.
Posted on 6/26/26 at 10:35 am to RLDSC FAN
The problem is that as costs increase while rental prices are frozen, landlords will not be able to meet expenses. When this happens, they look for ways to exit this type of business.
Free market should be left alone or there will be far fewer rental opportunities in the future.
Besides, it is not a proper function of government to intrude into this situation anyway.
Free market should be left alone or there will be far fewer rental opportunities in the future.
Besides, it is not a proper function of government to intrude into this situation anyway.
Posted on 6/26/26 at 10:46 am to RLDSC FAN
Landlord lives matter
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