NYC is getting what they voted for, as long as you’re NOT a property owner…
New York City Mayor Zohran Mamdani kicked off his plan to “fix” the city’s affordability crisis with his official housing policy agenda, titled “Block by Block,” under which one of the first priorities is to allow the government to seize property from owners deemed “negligent” and redistribute it to so-called “responsible stewards,” a category that includes anyone from land trusts, nonprofits, or even tenants themselves.
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“Through our new citywide campaign, Fix the City, we will focus on the worst landlords in New York City,” Mamdani announced. “When necessary, we will take aggressive legal action to remove negligent owners and property managers. And for buildings that have suffered chronic neglect, we will work to transfer ownership to responsible stewards. Stewards that include community land trusts, non-profits, or even the tenants themselves.”
Full article, HERE from Town Hall.
Soooooo, Mamdani’s people are going to decide ‘who’ is negligent and take the property and give it to somebody else…
Does this make ANY sense??? And what is their definition of a ‘community land trust? It is well known that rent control is one of the reasons upkeep has been less than perfect, because the upkeep costs more than the property is bringing in, but that is not the owner’s fault.
I know from my own family’s experience that rental properties are not supposed to be a losing proposition, much less one that costs you money every month. I wonder how many of the actual property owners in NYC might actually be ‘happy’ to get rid of properties?
In other news, I wonder how far behind NYC Seattle and LA are going to be? We know what the new Seattle mayor is saying, and if Bass wins LA again…well, bets are off there too!
Those new stewards receiving buildings should consider when new administration arrives, their ownership can be revoked and taken away as well.
My guess is Trump properties (and his supporters) will be under a microscope, seeking infractions. Time to get cozy with your legal eagle buddies – their council will be needed.
Right out of Atlas Shrugged. Ivy Starnes decided who “didn’t work according to their ability”, and penalized them. She also decided who “needed more” and rewarded them.
Communism put into practice in NYC, with Mamdini in the real life place of Ivy Starnes.
Hey Old NFO,
Are there slumlords in NYC, you betcha, but a lot of them are people who barely balance the books because of all the rules and regulations that they have to deal with. This will further encourage the exodus of people from NYC and noo….the people connected to the Mayor won’t abuse that power….will they….pinky swear…with cherries on top…..
Those who did not earn this benefit always turn their free shit into expensive blight.
Academia is funded by congress. Congress is partly to entirely insane and evil. Thus, some or more academic fields tend to turn their university degree bros insane and evil. There is nothing mysterious about that mayor or the consequences thereof, insanity and evil are destructive. The weed of crime bears bitter fruit.
People who get gold stars for reciting teacher are sometimes very proud to recite stuff that has nothing in common with reality.
Watch to see which landlords get below value and which get above.
Time reveals who can leaves such madness, but for those that can’t, anarchy is in their near future. A less polite society would be building a gallows.
All- You each raise good points. Jess, I wonder how long it will be before ‘that’ is a reality???
According to an F.b.k posting…one or more govt entities , either Denver or vicinity, has taken to selling their properties on the open market, waiting some period of time (5-6 years is what was said) and reclaiming them under eminent domain. Supposedly only those where the value has been seriously increased.
Not that I believe that a govt wouldn’t do this but I have seen no other postings supporting this. HOWEVER my wife’s great-uncle bought an early 20th century firehouse from Oakland, fixed it up as a very nice residence, and had Oakland come back 15-20 years later and demand it back…at the original price. He eventually lost but they did have to pay current retail.
Harsh reality is the only ones to “fix’ NYC are the people who live there. Outsiders may be able to help; just not to provide a band-aid.
Carlton- That sounds like Oakland…sigh
WSF- Point!
Uncle Slayton’s got his Texan pride
Back in the thickets with his Asian bride
He’s cut that corner pasture into acre lots
He sells ’em owner-financed strictly to them
That’s got no kind of credit cause he knows they’re slackers
And they’ll miss that payment, then he takes it back
Think that James McMurtry might have been predicting happenings in NYC? 😁
I see a lot of NYFC landlords abandoning property and taking the write-off on federal taxes.
Any bets on an increase in “fires of suspicious origin?”