YOUR SOUTHERN LEAGUE LEADER IN HOME RUNS!
Blake Burke blows this game open in the first with his 18th blast of the season!
📻 https://t.co/LIZcF8bIA9
📺 @bally__sports, https://t.co/5dYqzkzNIs
#ShuckYeah#ThisIsMyCrew
Imagine your family worked for a generation to save enough money to buy a brownstone occupied with rent stabilized tenants on the Upper West Side. The family financed the purchase with a mortgage from a bank based on the premise that rents and cash flow would at least keep pace with inflation so you could pay interest and principal on the mortgage and hopefully have some cash flow left as a return on your investment.
While you had rent stabilized tenants, you were led to believe that the NYC Rent Guidelines Board would be required to adjudicate rental increases each year by taking a measure of the inflation of costs to own and operate a building and setting rental increases appropriately.
You believed the RGB would do its job as the board is comprised of two representatives each for landlords and tenants and five independent representatives that represent the general public.
Now, a new mayor @NYCMayor Mamdani is elected on the promise of freezing rents. There are about two million rent stabilized renters that benefit if rents are frozen so by promising frozen rents the new candidate for mayor buys votes and wins the election.
The new mayor achieves his objective by stacking the RGB with directors who do not follow their obligations and simply vote for a rent freeze as a preordained conclusion as evidenced by the statements of an RGB director who resigned in protest for this very reason.
Meanwhile, inflation in NYC is rampant in utilities, real estate taxes, insurance, repairs and maintenance, etc. and now your rents are frozen. Real estate is a high operating leverage business which means that frozen rents and inflating expenses will cause property cash flows to plummet and your after debt service cash flow to go negative.
I expect therefore there will be hundreds if not thousands of small NYC property owners who are now or will shortly be underwater on their mortgages, and without any cash flow to maintain their assets.
If you remember the images of the South Bronx burning in the mid 1970s, you can viscerally understand what is happening to small NYC real estate owners.
While the rent freeze appears to be short-term good news (long term it will lead to poorly maintained apartments) for 2 million NYC renters, it is bad news for the 2 million or more renters in the 1 million market rate apartments in the City because a landlord-hostile market is not likely to add meaningfully more supply and market rents will likely continue to escalate at a high rate.
All of this seems quite unfair and wrong unless I missing something?
Why am I wrong?
For disclosure: I do not own any NYC rental apartments.
Not a dick measuring contest.
Just a difference of incentives.
Trump Tower was built privately.
Private capital has to earn its keep and people actually have to choose to stay there, buy a condo, or lease space.
Bad design or function gets punished fast with empty rooms, lost revenue, and real pain for the builder.
That’s why you get something tall, useful, and still valuable decades later.
The Obama library is a legacy project with roughly the same money.
Foundations, donors, and public land perks funded it. The people writing the big checks aren’t the daily users, and there’s no monthly rent test forcing constant improvement.
And the result is a lot of “iconic”, whatever that means, and not much everyday value. (And they made it ugly)
The TLDR is that free markets don’t promise perfection, but they do make waste expensive and reward what people voluntarily pay for.
Different incentives, different buildings.
Boise, Idaho was hit by one of the most intense summer hailstorms ever recorded, with up to 8 inches of hail in less than an hour.
[📹 hollykaydrinkard]
WNBA player Sophie Cunningham calls out WNBA commissioner Cathy Engelbert by name, rips the league for not protecting her teammate, Caitlin Clark.
"This type of sh*t happens every single game to her, and the league and the refs do absolutely nothing about it."
Cunningham and co-host West Wilson also discussed the possibility that Engelbert is jealous of Clark, which may be why Clark was snubbed from the WNBA 30th Anniversary Poster.
🇭🇹 Haiti homicides: 68 per 100k
🇺🇸 US homicides: 6 per 100k
🇭🇹 Haiti illiteracy rate: 40%
🇺🇸 US illiteracy rate: 18%
🇭🇹 Haiti average IQ: 68
🇺🇸 US average IQ: 100
10% of Haiti’s population is in the US right now. How does that benefit us exactly?
There should be basic critical thinking tests before being allowed to be a juror
A juror in the federal arson trial of Jonathan Rinderknecht, who was accused of setting the Pacific Palisades fire, says she couldn’t find him guilty because she gets sad all the time and talks to ChatGPT
For those that don’t know Jonathan Rinderknecht prompts with ChatGPT showed anger toward wealthy peopl, society, grievances and fascination with fire
He even generated images of raging wildfires right next to cities
But this juror couldn’t take that evidence into account because she says she gets sad and talks to ChatGPT too
Don’t know why I’d expect anything different from California jurors…..
She voted not guilty
A group of kids rode their bicycles straight through a clothing store like it was a skate park.
Store employees shouldn’t have to babysit people who were never taught basic respect for other people’s businesses.
How would you handle this if it were your business?
🚨 NYC DYKE MARCH SPECIAL: Chanting “God is a Lesbian, God is a Dyke” as they parade through the streets.
This is what the radical left is pushing in 2026.
ITS A MENTAL ILLNESS.
Bizarrely, socialism is still popular among young people. They should listen to those who lived it!
“You don't really know you have it good until you have it bad,” says @charlesNKorea.
He escaped North Korea, twice.
He tells me his story and the importance of freedom: