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If lawmakers don’t act, rents could rise in NYC
Associated Press ^ | Jan 4, 2015 12:40 PM EST | David Klepper

Posted on 01/04/2015 11:48:07 AM PST by Olog-hai

Cynthia Chaffee’s Manhattan apartment would likely go for more than $5,000 a month if the landlord charged market price. But Chaffee pays thousands less thanks to the city’s long-standing rent stabilization rules—regulations that will expire this year if lawmakers don’t act.

The 63-year-old paid $300 a month when she moved into the one-bedroom space in 1978. To Chaffee, the rules governing how much she and more than 2 million other New York City residents pay in rent protect the city’s diversity and character. […]

The laws governing the rent paid by Chaffee and more than 2 million other New York City residents are due to expire June 15, and state lawmakers are preparing for what could be a bruising debate over whether to renew, strengthen or weaken them. …

(Excerpt) Read more at hosted.ap.org ...


TOPICS: Business/Economy; Culture/Society; US: New York
KEYWORDS: liberalagenda; newyork; newyorkcity; nyc; nypd; rentcontrol; rentstabilization; repeal
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To: Ouderkirk

Why not stop rent control, and section 8 and let rents find their own equilibrium.


I agree. I know people in Albuquerque that are paying as much rent for a 3 bedroom apartment as I’m paying for our mortgage in a 2,000 sq. ft. 4 bedroom home. And it’s nothing close to the $500 - 700 rents that one guy quoted in the article said people are paying in a building he managed!


21 posted on 01/04/2015 12:29:34 PM PST by leapfrog0202 ("the American presidency is not supposed to be a journey of personal discovery" Sarah Palin)
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To: Olog-hai

Lawmakers should acct to get the government the hell out of the business of setting rents altogether.


22 posted on 01/04/2015 12:33:48 PM PST by arthurus
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To: Java4Jay

“Rental prices across the country are already highly inflated due to the subsidies some receive.”

Been that way for a couple of decades, now.

Section 8 subsidy determines the floor for rents, and everything goes up from their. If you want that kind of a renter, you set your rates accordingly, if you don’t, you go higher.


23 posted on 01/04/2015 12:38:03 PM PST by tcrlaf (They told me it could never happen in America. And then it did....)
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To: mad_as_he$$

Like Ann Coulter said about that Garner case:

“Lesson to be learned: Never come between a liberal and taxes”

So true, because it was DeBlasio along with the city council who demanded cops arrest people who sell loosies. And if you can believe it, the city council had the gall to take to the streets and protest when things went wrong!

http://observer.com/2014/12/city-council-members-block-traffic-to-protest-eric-garner-decision/


24 posted on 01/04/2015 12:39:52 PM PST by GrandJediMasterYoda (Obama: 7 acts of blatant treason and counting.)
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To: Olog-hai

Its New York.

Who cares?


25 posted on 01/04/2015 12:41:55 PM PST by Rich21IE
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To: arthurus

This kind of stuff has been entrenched in NY for decades, even centuries. Rent control in particular started way back in the 1920s.


26 posted on 01/04/2015 12:41:58 PM PST by Olog-hai
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To: leapfrog0202
Not many do ... I think Boston does, Califonia has a number of cities with rent control. Oh, just went looking, and this website lists the cities.
27 posted on 01/04/2015 12:48:33 PM PST by Cboldt
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To: Cboldt

Thanks. Mostly Dem strongholds from what I can see. Figures.


28 posted on 01/04/2015 12:55:35 PM PST by leapfrog0202 ("the American presidency is not supposed to be a journey of personal discovery" Sarah Palin)
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To: Olog-hai

Of course, they’ll renew the rent controls. The place is run by socialists. They love controls — and their constituents demand them.


29 posted on 01/04/2015 1:08:43 PM PST by BfloGuy ( Even the opponents of Socialism are dominated by socialist ideas.)
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To: Olog-hai

Government has no right to interfere with the ability of someone to set a price for something he wants to sell.


30 posted on 01/04/2015 1:31:44 PM PST by I want the USA back (Media: completely irresponsible. Complicit in the destruction of this country.)
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To: Olog-hai
Wouldn't this be a GREAT Republic if ALL laws "sunsetted"?

That way, our Masters would be kept busy re-passing the laws they really liked, instead of passing new ones to oppress us further.

31 posted on 01/04/2015 1:57:55 PM PST by kiryandil (making the jests that some FReepers aren't allowed to...)
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To: leapfrog0202
If the rent isn't fully covering taxes, insurance and maintenance, then it is too low. If it is a multi-unit dwelling, the rent should also cover the pro-rated portion of mortgage principal and interest. If the property doesn't pull its own weight financially, it is time to divest and do something more reasonable with the monetary investment.
32 posted on 01/04/2015 2:44:57 PM PST by Myrddin
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To: NYFriend

Sounds a bit like how longshoreman’s union jobs are passed down . . .


33 posted on 01/04/2015 2:51:03 PM PST by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: Olog-hai

Rent control causes housing shortages.

I guess that’s why liberals like it.


34 posted on 01/04/2015 2:59:55 PM PST by TBP (Obama lies, Granny dies.)
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To: TBP
Seems reminiscent of the second clause of the ninth plank of communism:
(G)radual abolition of all the distinction between town and country by a more equable distribution of the populace over the country.
Pushing (or as Obama is fond of saying, “nudging”) the middle class out of the cities and into the suburbs via sprawl was just the start of that.
35 posted on 01/04/2015 3:10:48 PM PST by Olog-hai
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To: Myrddin

Agreed Myrddin!


36 posted on 01/04/2015 3:39:37 PM PST by leapfrog0202 ("the American presidency is not supposed to be a journey of personal discovery" Sarah Palin)
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To: ladyjane

Yep. Rent control is liberal, socialist engineering crap.

And you see people with these huge apartments paying a pittance for rent, who find ways to keep it “in the family”.

All price controls of all kinds should be abolished. But as you said, they aren’t going to give up without a fight.


37 posted on 01/04/2015 3:40:02 PM PST by rlmorel (The Media's Principles: Conflict must exist. Doesn't exist? Create it. Exists? Exacerbate it.)
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To: Olog-hai

All your property are belong to us.


38 posted on 01/04/2015 3:41:11 PM PST by Organic Panic
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To: Olog-hai

do the taxes and maintenance costs on these buildings also reflect 1978 price levels??


39 posted on 01/04/2015 4:58:26 PM PST by terycarl (common sense prevails over all)
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To: NYFriend

I knew a landlord who put in a whole new heating system in his building. He petitioned the rent control board to raise his rents because of the improvement and his cost. The board determined that his new system would be more efficient and they dropped his rents.

Rent controlled units are not for poor people. They’re for friends of the politicians and board members or for those who are able to pay off the superintendents.


40 posted on 01/04/2015 7:22:45 PM PST by ladyjane
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