@BillAckman And yet we have tens of thousands of, if not hundreds of thousands or even millions singing the praises of it and electing politicians preaching it. Scary times.
@MattH_4America I prefer government stay out of electricity generation with all the stupid regulations. I’d also prefer that energy providers build more dams and nuclear reactors to flood us with electricity instead of tearing those things down & decommissioning them. That would solve the issue.
@DenverChannel Good luck Colorado! More frivolous, money wasting lawsuits against Trump & company and political prosecutions while Colorado burns coming your way!
@FreeStateColor1 Glad we left Colorado, I’m sorry I didn’t have it in me anymore to keep getting railed by ever increasing taxes, insurance, cost of living, societal decay, regulations on my small business. Sorry y’all are about to get even bigger doses of all that.
There's no freeze on property tax.
There's no freeze on the wages paid to landscapers, plumbers, electricians, drywallers, flooring installers.
There's no freeze on the cost of lumber, copper, baseboard, quarter rounds, flashing, siding, window treatments.
There's no freeze on the wages paid to janitors or porters.
There's no freeze on utilities -- on electric, gas, water, sewer (building-paid utilities in hallways, lobbies, maintenance corridors; most buildings pay water and sewer for tenants).
There are currently 57,421 units sitting vacant in NYC because it's more cost-effective to leave them empty than it is to rent them out.
If you're wondering: "How that could be possible? Wouldn't making anything be better than making nothing?" -- the answer is no, because of the 2019 Housing Stability and Tenant Protection Act.
The HSTPA mandated a certain level of renovation for a vacant unit, but did not allow landlords to raise the rent enough to be able to recoup those costs.
If a long-term tenant moves out after decades, the apartment often requires $50,000 to $100,000 in lead abatement, new wiring, plumbing, and structural renovations.
Because the law heavily restricts how much of that cost can be passed to the next tenant.
The HSPTA eliminated the "vacancy bonus" (which allowed automatic 20% rent increases when a tenant left) and heavily capped Individual Apartment Improvements (IAIs).
This means landlords who want a renovation loan would be rejected by a bank, because the landlord would not be able to show that they could repay that loan.
Landlords who pay out-of-pocket would end up losing money, underperforming even what they could get by putting their money in a U.S. Treasury or gov't bond.
Therefore, it's more cost-effective to just leave the unit vacant.
That's why we have 57,421 vacant units across New York right now.
That number is about to get much worse.
@Jookers123@ZacksJerryRig I’m 20 IQ points dumber than I was before reading your comment, and I didn’t have much to work with before that, I can only imagine where your IQ hovers believing what you wrote.
@RedWavePress Wondering where this line of questioning was 2001-2004 for Bidens vp or any cabinet member. They didn’t care then, now they do? GMAFB. It’s almost as if they’re covering for something.
@David_J_Bier Since DHS didn't follow the law when they let them into the country in the first place using an unlegislated "program", this new effort effectively just balances it all out. Two negatives make a positive.