When there are shortages, people get left out. Landlords benefit from the competition for housing for those left out, but they’re still priced out of the market because that policy-driven shortage creates that outcome.

What did he do? Who did he bribe?

Just end rent stabilization, and we won’t have to worry about enforcing a bad law anymore.

Are you kidding me? You think developers and landlords will just ensure more people are housed if you take away the profit from housing them? You incentivize the behaviors you want. If you want housing available to people and less homelessness, rent control is the wrong answer.

Are people really ignorant enough to think rent control will drop their rent?

Why shouldn’t the owner of a property be allowed to do that?

Reported for what?

Can someone explain interest to Emily?

Sounds like she was insulting you because you’re a fool.

No. Loan covenants only create a restriction felt to be easily achievable by the landlord and the lender during the time the loan is in force. Supply and demand will always have an impact, including over the success or failure of the landlord to satisfy that covenant.

Rent controls tell investors how capital is treated, investors know the tendency as the many negatives of rent controls reveal themselves that policy makers tend to double down on the bad policy both by tightening and expanding. And Mamdani noted he wants them on new builds.

Rent controls don’t have to be universal to have a huge impact on both new and existing supply. They tell investors how capital is treated, investors know NYC is always looking to expand them, and Mamdani even wants them on all new builds.

When you’re making major life decisions based on it, you’re living in fear.

This is just false. Not sure if these are made up numbers or if they’re trying to use wages vs inflation while using raw numbers for COL, but this isn’t remotely close to accurate. americanprogress.org/article/americ…

What a headline!

I hope he’s better at being a doc than he is at understanding how interest works.

Wow!

Financial literacy is lacking with this one.

Can’t find an apartment under $2300/mo in the city and can’t afford it? How about move to where you can afford. Thousands of cities and towns around the country have 2 and 3 BR units available below this price.