Cuomo Calls for Strengthening Rent Reg Laws
Governor Cuomo released the video above yesterday saying that if rent-regulation laws are allowed to expire next month, it would be a “crisis” for the state and that the laws need to be extended and strengthened. Cuomo says that “by current standards, it is estimated that over 130,000 more apartments could be lost to decontrol…
Governor Cuomo released the video above yesterday saying that if rent-regulation laws are allowed to expire next month, it would be a “crisis” for the state and that the laws need to be extended and strengthened. Cuomo says that “by current standards, it is estimated that over 130,000 more apartments could be lost to decontrol in the next few years.” City Room notes that the though the Assembly approved legislation last month that would extend rent regulations through 2016 and shift the luxury decontrol ceiling from $2,000 to $3,000 a month, “the issue has drawn little interest in the Senate.”
Cuomo Releases Message Urging Stronger Rent Laws [City Room]
mcKenzie, it won’t be long before I decide to retire and then I’ll move to a lower tax rate state (PA) without all the entitlements for the unwashed masses. People there actually have a sense of self esteem and work as opposed to the attitude so prevalent throughout NYC that there’s always the government tit to suck off of. I’ll be glad I don’t have to pay for it anymore.
Oh, and by the way, either your rent keeps going up or the repairs on your building don’t get made. Longer term, this system will collapse under its own weight as it already seems to be doing with so many properties.
mckenzie: I don’t know if “most” New Yorkers are either poor or just barely scraping by but “most” poor or low-income New Yorkers don’t have rent stabilized apartments either (I’m not talking about public housing; I’m talking about private properties subject to rent regulation); they are the ones most harmed by rent control and stabilization because it skews non-regulated housing above what would otherwise be true market prices.
any politician who touches a hair on the head of rent regulations will be set upon by all the furies of the press corps and will be drummed out of office. For those of you living in your brownstone fantasy, most New Yorkers are either poor or just barely scraping by. I would like to see a pol or a judge order the sheriff to evict old ladies and sick people and poor people and their children from their rent-regulated apartments.
Get a clue: it ain’t going to happen.
Cuomo is smart to attempt to strengthen the laws. He will be lauded by the press and will be sitting pretty come the next election cycle.
I think what’s necessary is a stronger monitoring of the income levels of people who do get all these handout apartments whether they be Projects, Section 8, RC or whatever you call them.
The abuses of the system are rampant and the beauracracy of the government is ridiculous.
And yes, Bolder, the fact that they all vote Democrats basically supports the ongoing status quo and the abuses.
The best thing for the city would be to let RR wither slowly on the vine. Propping it up by moving the goalposts every 15 years does nothing for those who truly need affordable housing. The sole reason Cuomo supports it is that nearly every single RR tenant in NYC votes Democratic.
You need to find a better comparison to the brooklyn real estate markat than Bernie madoff. it’s making you sound foolish.
Drive along Queens Boulevard in Rego Park and Forest Hills and look at the thousands and thousands of rentals that were built in the 1950’s and 1960’s when new construction was free market.
Of course the whore politicans went back on their word, and slapped rent regulations on these buildings in the late 1960’s. Had they left the market be the market, these building owners would have taken their profits and built more rental buildings (it’s called capitalism). But instead, their profits dried up, so construction came to a halt. When their profits really dried up, many quit the business and sold to coop converters.
Had there never been rent regulations, we would have a ton more rentals and much lower rents. Not hard to understand. Cuomo knows this, but he can’t say it.
I do not see how this market sustains these prices. Some of these houses are remote and in terrible school districts. How can they be worth over a million dollars? It’s a question worth asking.
What was the market price of Madoff’s investment fund? Several people questioned how it could make profits and grow while the entire country was not. “He was a genius” was the chorus. “you don’t understand black box algorithms.”
I am asking how could real estate prices in Brooklyn continue to appreciate in the current financial environment. “Brooklyn is special” is the chorus “you don’t understand the market.”
Baloney! I understand the market plenty.
Something is fishy. Buyer beware -more than ever.
I think the mortgage interest deduction should be abolished right along with rent regulation. There should be low and moderate income housing for those who need it, but unfortunately the rent regulation laws we have don’t serve the need well and I doubt they can be fixed to do so.
Didn’t anyone read the recent Times real estate article about people “staying put” for long stretches in the same apartments? Well, who wouldn’t when they have a 2br in the fanciest part of the UWS for a few hundred dollars a month? That doesn’t help anyone, other than that individual who may well not need any helped.