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Resetting regulated rent is the only way systems like rent stabilization can work. It’s why every other city in America with rent control allows for it. Otherwise buildings go bankrupt and apartments stay off the market like the 50,000 empty ones here in New York. New York has a...

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Kenny Burgos

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103,238 Aufrufe • vor 7 Monaten •via X (Twitter)

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INSANE 🚨 - 32% of public housing in New York City is occupied by people born outside of the United States - 44% of rent-stabilized apartments in New York City are also going to people born outside of the US - 88% of public housing in New York City is occupied by Blacks and Hispanics “88%… I mean, I can't even believe they provided these numbers. Like, and they have to be baking them, right? These have to be modest numbers for New York. This is just straight-up suicidal. And of course, everyone on the left wants you to think that white people don't pay their fair share.” - Imagine the drop in rent prices if 32% of public housing was reclaimed from foreigners through deportations - Imagine the drop in rent prices if 44% of rent stabilized apartments went to Americans instead of foreigners
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INSANE 🚨 - 32% of public housing in New York City is occupied by people born outside of the United States - 44% of rent-stabilized apartments in New York City are also going to people born outside of the US - 88% of public housing in New York City is occupied by Blacks and Hispanics “88%… I mean, I can't even believe they provided these numbers. Like, and they have to be baking them, right? These have to be modest numbers for New York. This is just straight-up suicidal. And of course, everyone on the left wants you to think that white people don't pay their fair share.” - Imagine the drop in rent prices if 32% of public housing was reclaimed from foreigners through deportations - Imagine the drop in rent prices if 44% of rent stabilized apartments went to Americans instead of foreigners

Wall Street Apes

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Jesse Watters does NOT understand how rent stabilization works in New York City. The rent goes up on rent stabilized apartments every year or two years depending on the lease. Most buildings with rent stabilized apartments are privately owned. No one gets any government money.
1:46

Jesse Watters does NOT understand how rent stabilization works in New York City. The rent goes up on rent stabilized apartments every year or two years depending on the lease. Most buildings with rent stabilized apartments are privately owned. No one gets any government money.

Decoding Fox News

63,119 Aufrufe • vor 2 Monaten

Shabbification - A Story Of Rent Control In New York, property owners are unable to recoup the costs of renovation while their buildings fall apart, apartments are forced empty, and tenants may live in subsidized housing even if they make $500K per year. A film by Jen Sidorova.
11:03

Shabbification - A Story Of Rent Control In New York, property owners are unable to recoup the costs of renovation while their buildings fall apart, apartments are forced empty, and tenants may live in subsidized housing even if they make $500K per year. A film by Jen Sidorova.

CiVL

173,922 Aufrufe • vor 1 Jahr

New York City Mayor Zohran Mamdani's best-known campaign promise was tentatively advanced in a cacophonous college auditorium as a city housing board agreed in a provisional vote to consider freezing the rent for about a million regulated apartments
2:49

New York City Mayor Zohran Mamdani's best-known campaign promise was tentatively advanced in a cacophonous college auditorium as a city housing board agreed in a provisional vote to consider freezing the rent for about a million regulated apartments

Reuters

49,951 Aufrufe • vor 3 Monaten

Federal housing vouchers are running out faster than anticipated in New York Residents are receiving emails saying the emergency housing voucher they are receiving to pay their rent will be ending this year 5,200 people in the New York City area will be losing their vouchers NYC Housing Authority has a waitlist of over 150,000 New Yorkers waiting to get rent vouchers Looks like free ride is over, a lot of people will have to get jobs and pay full rent These programs should exist for people with disabilities and seniors, that’s who should have always taken priority Instead, our Housing Secretary has made statements saying there are families that have been on housing vouchers spanning back generations This is not what the program was meant to be
1:59

Federal housing vouchers are running out faster than anticipated in New York Residents are receiving emails saying the emergency housing voucher they are receiving to pay their rent will be ending this year 5,200 people in the New York City area will be losing their vouchers NYC Housing Authority has a waitlist of over 150,000 New Yorkers waiting to get rent vouchers Looks like free ride is over, a lot of people will have to get jobs and pay full rent These programs should exist for people with disabilities and seniors, that’s who should have always taken priority Instead, our Housing Secretary has made statements saying there are families that have been on housing vouchers spanning back generations This is not what the program was meant to be

Wall Street Apes

83,824 Aufrufe • vor 4 Monaten

JUST IN: 🇺🇸 New York has approved Zohran Mamdani's rent freeze proposal for rent-stabilized apartments. More than 40% of NYC apartments will now have rent frozen on a 1-2 year lease, to make the city affordable.
0:20

JUST IN: 🇺🇸 New York has approved Zohran Mamdani's rent freeze proposal for rent-stabilized apartments. More than 40% of NYC apartments will now have rent frozen on a 1-2 year lease, to make the city affordable.

Coinvo

279,372 Aufrufe • vor 2 Monaten

Milton Friedman: “Economists don’t know much, but there’s one thing we know very, very well—and that’s how to produce shortages.” “You want a shortage of housing in New York City? Set a maximum price on rent, and you will have a shortage of housing.”
0:39

Milton Friedman: “Economists don’t know much, but there’s one thing we know very, very well—and that’s how to produce shortages.” “You want a shortage of housing in New York City? Set a maximum price on rent, and you will have a shortage of housing.”

Milton Friedman Quotes

149,361 Aufrufe • vor 3 Monaten

Thomas Sowell on why rent control is so damaging: “If rent control is severe, people either reduce the amount of housing they build or they stop building housing altogether.” “Political authorities are then confronted with a situation where there’s no new housing built and the old housing is wearing out—usually faster under rent control because the landlords don’t have to keep it up as much.” “So they step in and have some kind of modification. They say, ‘We are trying to protect the poor, so we won’t regulate luxury housing.’” “Of course, luxury housing and ordinary housing use much the same labor and the same materials. Therefore, all the materials that would have otherwise gone into making ordinary housing go into building luxury housing.”
0:48

Thomas Sowell on why rent control is so damaging: “If rent control is severe, people either reduce the amount of housing they build or they stop building housing altogether.” “Political authorities are then confronted with a situation where there’s no new housing built and the old housing is wearing out—usually faster under rent control because the landlords don’t have to keep it up as much.” “So they step in and have some kind of modification. They say, ‘We are trying to protect the poor, so we won’t regulate luxury housing.’” “Of course, luxury housing and ordinary housing use much the same labor and the same materials. Therefore, all the materials that would have otherwise gone into making ordinary housing go into building luxury housing.”

Thomas Sowell Daily

30,630 Aufrufe • vor 2 Monaten

The FP’s Lucy Biggers visits a rent-stabilized apartment that’s been empty since 2021, even as New York faces a housing shortage. And this isn’t an outlier. Because of 2019 rental laws, an estimated 50,000 similar units sit vacant across the city.
1:52

The FP’s Lucy Biggers visits a rent-stabilized apartment that’s been empty since 2021, even as New York faces a housing shortage. And this isn’t an outlier. Because of 2019 rental laws, an estimated 50,000 similar units sit vacant across the city.

The Free Press

94,649 Aufrufe • vor 9 Monaten

Today, I am proud to announce that I will be proposing “Zohran’s law," a law that will keep the rich out of New York’s affordable housing. Zohran Kwame Mamdani : you say freeze the rent. But for who? Rich people like you? Hardworking, working class New Yorkers are being pushed from their neighborhoods. Let’s build affordable housing that helps the people who need it. Under Zohran’s law, landlords can no longer rent vacant rent-controlled units to the wealthy. You are a rich person stealing affordable housing from the poor. And you’re not the only one. It’s past time we address this injustice. Let’s build a new NYC that works for the people who need it.
0:30

Today, I am proud to announce that I will be proposing “Zohran’s law," a law that will keep the rich out of New York’s affordable housing. Zohran Kwame Mamdani : you say freeze the rent. But for who? Rich people like you? Hardworking, working class New Yorkers are being pushed from their neighborhoods. Let’s build affordable housing that helps the people who need it. Under Zohran’s law, landlords can no longer rent vacant rent-controlled units to the wealthy. You are a rich person stealing affordable housing from the poor. And you’re not the only one. It’s past time we address this injustice. Let’s build a new NYC that works for the people who need it.

Andrew Cuomo

16,032,955 Aufrufe • vor 1 Jahr

How can we understand the power of ideology? Stephen Kotkin offers up NYC Mayor Zohran Mamdani as an example: “So there's this young kid who's really adept at social media who just looks like he won the primary for a Democratic candidate for mayor in New York City. And one of the things he wants to do is freeze rents because he wants more affordable housing. So he's a complete idiot in terms of facts. The way to get more affordable housing is to build more housing. If supply massively increases and it exceeds demand, the price has to go down. It's proven again and again and again. And what rent control does or freezing of rent, it inhibits the building of new housing. Because who's going to build new housing when you can't make money off of it? Rent control is what produces the lack of affordable housing in the first place. So he sees what's the problem as the solution now. Now, is he a fool? No, he's a really bright guy. He's very well educated.”
2:19

How can we understand the power of ideology? Stephen Kotkin offers up NYC Mayor Zohran Mamdani as an example: “So there's this young kid who's really adept at social media who just looks like he won the primary for a Democratic candidate for mayor in New York City. And one of the things he wants to do is freeze rents because he wants more affordable housing. So he's a complete idiot in terms of facts. The way to get more affordable housing is to build more housing. If supply massively increases and it exceeds demand, the price has to go down. It's proven again and again and again. And what rent control does or freezing of rent, it inhibits the building of new housing. Because who's going to build new housing when you can't make money off of it? Rent control is what produces the lack of affordable housing in the first place. So he sees what's the problem as the solution now. Now, is he a fool? No, he's a really bright guy. He's very well educated.”

Dwarkesh Podcast

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The rent in Providence is too high and we need real solutions to bring down costs for families. And I understand why rent control sounds compelling, but the reality is that it has consistently been shown to hurt those it is meant to help. In Cambridge, in Berkeley, in Portland, in St. Paul and more, rents actually went up under rent control and new construction plummeted. My plan provides direct rent relief now and lowers costs long-term through continued new construction. I look forward to working with the City Council to continue addressing the root cause of our housing shortage and bring down costs for all our neighbors.
0:42

The rent in Providence is too high and we need real solutions to bring down costs for families. And I understand why rent control sounds compelling, but the reality is that it has consistently been shown to hurt those it is meant to help. In Cambridge, in Berkeley, in Portland, in St. Paul and more, rents actually went up under rent control and new construction plummeted. My plan provides direct rent relief now and lowers costs long-term through continued new construction. I look forward to working with the City Council to continue addressing the root cause of our housing shortage and bring down costs for all our neighbors.

Mayor Brett Smiley

86,009 Aufrufe • vor 3 Monaten

Billionaire hedge fund manager Bill Ackman says “Socialism is a disaster” He explains the real reason housing is so expensive in New York City is because Democrat mayors for years have made building new housing near impossible “Why is the cost of housing so high in New York City? Because unfortunately, left-wing mayors have made it very difficult for developers to build in New York City. Zohran Mamdani, when he's freezes rents, he's just going to make the problem worse. There are buildings in New York City, many, many buildings in New York City, where half the tenants, plus or minus, are rent-stabilized apartments, and so their rent is frozen, and the other half are free market. And so what does the landlord do in order to generate enough cash flow to cover his interest expense? Well, he's gonna raise rents 'cause he can't raise them on half the apartments” “We can fix a lot of these problems with much better policy. Look at Florida. Florida's an incredibly well-managed state. They're talking about eliminating, I think they voted recently to eliminate real estate taxes. How are they able to do that? Just good policy” “You want the Ken Griffins of the world to locate Citadel here. You want him to spend $250 million dollars in apartment. Why? Because that $250 million dollar purchase made that building economically viable — You want to have the Elon Musks of the world, but you don't wanna discourage Elon Musk from locating his business here” This is what Democrats don’t understand, regulations and insane taxes are killing initiatives to build new housing developments I ran a comparison and found when you take into account all the taxes, permits and fees. It would cost 4x more to build an apartment complex in NYC vs a place like Orlando Florida
2:27

Billionaire hedge fund manager Bill Ackman says “Socialism is a disaster” He explains the real reason housing is so expensive in New York City is because Democrat mayors for years have made building new housing near impossible “Why is the cost of housing so high in New York City? Because unfortunately, left-wing mayors have made it very difficult for developers to build in New York City. Zohran Mamdani, when he's freezes rents, he's just going to make the problem worse. There are buildings in New York City, many, many buildings in New York City, where half the tenants, plus or minus, are rent-stabilized apartments, and so their rent is frozen, and the other half are free market. And so what does the landlord do in order to generate enough cash flow to cover his interest expense? Well, he's gonna raise rents 'cause he can't raise them on half the apartments” “We can fix a lot of these problems with much better policy. Look at Florida. Florida's an incredibly well-managed state. They're talking about eliminating, I think they voted recently to eliminate real estate taxes. How are they able to do that? Just good policy” “You want the Ken Griffins of the world to locate Citadel here. You want him to spend $250 million dollars in apartment. Why? Because that $250 million dollar purchase made that building economically viable — You want to have the Elon Musks of the world, but you don't wanna discourage Elon Musk from locating his business here” This is what Democrats don’t understand, regulations and insane taxes are killing initiatives to build new housing developments I ran a comparison and found when you take into account all the taxes, permits and fees. It would cost 4x more to build an apartment complex in NYC vs a place like Orlando Florida

Wall Street Apes

45,928 Aufrufe • vor 24 Tagen

Official New York City Housing and Vacancy Survey found that 44% of rent-stabilized units in New York City are occupied by people born outside of the United States The report also shows the vacancy rate is at a historical low, at only 1.4%. Meaning foreign born people are taking huge amounts of rent stabilized housing from Americans who need it This data was hidden all the way down on page 52 of 99 in the report. That was intentional
1:12

Official New York City Housing and Vacancy Survey found that 44% of rent-stabilized units in New York City are occupied by people born outside of the United States The report also shows the vacancy rate is at a historical low, at only 1.4%. Meaning foreign born people are taking huge amounts of rent stabilized housing from Americans who need it This data was hidden all the way down on page 52 of 99 in the report. That was intentional

Wall Street Apes

92,244 Aufrufe • vor 2 Monaten

Today I'm announcing a plan to unleash the public sector and build the housing we desperately need. As Mayor, I will triple New York City's production of permanently affordable, union-built, rent-stabilized homes, constructing 200,000 new units over the next decade.
1:22

Today I'm announcing a plan to unleash the public sector and build the housing we desperately need. As Mayor, I will triple New York City's production of permanently affordable, union-built, rent-stabilized homes, constructing 200,000 new units over the next decade.

Zohran Kwame Mamdani

449,221 Aufrufe • vor 1 Jahr

Caleb Hammer explains why rent control doesn’t work “It’s one of those policies that sounds really good and really moral. You want to support it, landlords make less money and people pay less rent. But everywhere it’s been enacted, permitting has dropped significantly, and rents have gone up even faster for the average person, except for the few lucky ones in subsidized housing” “Units go untouched and aren’t maintained at all. I think something like 10-20% of rent controlled units in New York are empty because they can’t be brought up to standard, since it’s not worth investing in. In Massachusetts, rent control was a complete disaster and had to be repealed. In San Francisco, the moment they introduced it, permitting dropped. It just hasn’t worked”
1:08

Caleb Hammer explains why rent control doesn’t work “It’s one of those policies that sounds really good and really moral. You want to support it, landlords make less money and people pay less rent. But everywhere it’s been enacted, permitting has dropped significantly, and rents have gone up even faster for the average person, except for the few lucky ones in subsidized housing” “Units go untouched and aren’t maintained at all. I think something like 10-20% of rent controlled units in New York are empty because they can’t be brought up to standard, since it’s not worth investing in. In Massachusetts, rent control was a complete disaster and had to be repealed. In San Francisco, the moment they introduced it, permitting dropped. It just hasn’t worked”

Mikli

1,597,899 Aufrufe • vor 5 Monaten

Mamdani: 2.5 million New Yorkers live in rent stabilized housing. The city determines if their rent increases every year or not. This mayor has increased their rents by more than 12%. We're going to deliver universal childcare, which would take off $22,500 a year from the backs of these parents. And finally, buses, $2.90 doesn't sound like that much, but 1 in 5 New Yorkers cannot afford that. It's about diagnosing this problem and then delivering on it
0:55

Mamdani: 2.5 million New Yorkers live in rent stabilized housing. The city determines if their rent increases every year or not. This mayor has increased their rents by more than 12%. We're going to deliver universal childcare, which would take off $22,500 a year from the backs of these parents. And finally, buses, $2.90 doesn't sound like that much, but 1 in 5 New Yorkers cannot afford that. It's about diagnosing this problem and then delivering on it

FactPost

42,151 Aufrufe • vor 10 Monaten

The entire future of investment in New York City's housing is at stake, and it's all connected to one case currently being litigated in federal court. Imagine investing $150mn into renovating a portfolio of buildings, according to state regulations that tell you that after doing so, your building will no-longer be subject to rent-stabilization (which is the only reason you make such an investment in the first place). Only for the state to turn around and change the rules after you've completed the investment and renovations, restoring the building completely. And for the state to disregard all former precedents and to tell you, ex-post facto, that the regulations at the time weren't in fact binding and that your building is still subject to rent-stabilization. That's what's happening in New York at the moment, and Peak Capital Advisors is challenging this in court. The effects could be immense: if an agency creates regulations intended to incentivize investment in housing according to state legislation, but can then change its interpretation after the fact, forcing a company into insolvency, then why would anyone want to invest in New York City again? New York needs more housing and developers want to build it. But they won't do so in an uncertain and arbitrary legal environment. Read my latest in City Journal below
2:26

The entire future of investment in New York City's housing is at stake, and it's all connected to one case currently being litigated in federal court. Imagine investing $150mn into renovating a portfolio of buildings, according to state regulations that tell you that after doing so, your building will no-longer be subject to rent-stabilization (which is the only reason you make such an investment in the first place). Only for the state to turn around and change the rules after you've completed the investment and renovations, restoring the building completely. And for the state to disregard all former precedents and to tell you, ex-post facto, that the regulations at the time weren't in fact binding and that your building is still subject to rent-stabilization. That's what's happening in New York at the moment, and Peak Capital Advisors is challenging this in court. The effects could be immense: if an agency creates regulations intended to incentivize investment in housing according to state legislation, but can then change its interpretation after the fact, forcing a company into insolvency, then why would anyone want to invest in New York City again? New York needs more housing and developers want to build it. But they won't do so in an uncertain and arbitrary legal environment. Read my latest in City Journal below

Adam Lehodey

187,940 Aufrufe • vor 4 Monaten

American shows what it’s like when he gets off work and arrives home to rest and relax He lives in an apartment in New York, managed by the York City Housing Authority It’s like a horror movie
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American shows what it’s like when he gets off work and arrives home to rest and relax He lives in an apartment in New York, managed by the York City Housing Authority It’s like a horror movie

Wall Street Apes

80,850 Aufrufe • vor 5 Monaten