3 ms·
Do those case studies include the case for expropriating landlords that don’t keep their buildings to code? Massive building sprees don’t bring prices down, th
by budududuroiu 1y ago
Do those case studies include the case for expropriating landlords that don’t keep their buildings to code?
Massive building sprees don’t bring prices down, they bring favelisation.
If the effect of this policies is that housing prices tumble, and there’s potentially more housing stock on the market for people to buy (and no incentive for buying to let since rent freezes makes it unprofitable), this seems like a good effect
- ecshafer 1y ago[flagged]
- budududuroiu 1y agoKeeping a building rentable is a pretty reasonable criteria for… renting.
- ecshafer 1y agoExcept NYC has laws making it difficult to do. A 2019 law they passed limits the amount a unit can have its rent increased in the case of a capital improvement at a small fraction of the capital cost. Now that interest rates are higher land lords are forced to keep units vacant, since theyll lose money taking a loan to get units up to code.
- JumpCrisscross 1y ago> 2019 law they passed limits the amount a unit can have its rent increased in the case of a capital improvement at a small fraction of the capital cost Source? This sounds like it only applies to stabilised apartments. > Now that interest rates are higher land lords are forced to keep units vacant Rental vacancies are similar to what they were in 2019 [1]. [1] https://fred.stlouisfed.org/series/NYRVAC https://fred.stlouisfed.org/series/NYRVAC
- JumpCrisscross 1y ago> If the effect of this policies is that housing prices tumble The near-term effect will be a spike in market rates. If Mamdani delivers on new supply, rents should broadly flatten in real terms.