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That article at therealdeal has me pretty stunned. The headline story is that landlords are keeping rent controlled units vacant rather than renovating them wh
by JPws_Prntr_Fngr 3y ago
That article at therealdeal has me pretty stunned.
The headline story is that landlords are keeping rent controlled units vacant rather than renovating them which would be unprofitable, and daring the toothless regulators to do something about it. Ok, makes sense.
Then as a side note, the article mentions that they’re also deferring maintenance on whole buildings: roofs, boilers, cameras, etc. The fact that these landlords are incentivized not just to let a few units turn into roach hotels, but to let their whole buildings crumble, without the remaining tenants leaving to a better building - that’s a fundamentally broken market. Way beyond a few rent controlled units.