4 ms·
As a resident of NYC I’m all for getting rid of rent control (stabilization) but I have to say that it leaves a sour taste in my mouth to just hand over a windf
by bradleyjg 8y ago
As a resident of NYC I’m all for getting rid of rent control (stabilization) but I have to say that it leaves a sour taste in my mouth to just hand over a windfall to landlords that bought buildings while rent control was in place and accordingly paid a lower price.
Maybe some kind of rent control buyout program would make more sense.
- brianwawok 8y agoWhat happened to all the landlords who owned a building when rent controlled was first introduced? Most got stuck with a huge future loss. Seems weird to subsidize one side but not the other.
- bradleyjg 8y agoThey are long dead. How does it make any sense to give a windfall to a group of owners far removed in time and ownership to “balance” that?
- brianwawok 8y agoThat's not my argument ;) My argument is that is why you don't give landlords a one time cash payment when you end rent control. You are making someones property worth MORE, paying them is giving them a double win.
- bradleyjg 8y agoAh I see. I meant that landlords would have to buyout of rent control with a one time payment not get paid.