The $ASTS and $RKLB recovery will be violent.
Why? Because everyone is waiting for them to bottom and will pile in all together once they think the trend is reversing.
Don't catch a falling knife = ape in if you see green.
Gonna be fun to watch.
Who gets hurt by NYC's rent freeze?
First, the people who pay market-rate rents.
Remember, rent stabilization is NOT income tested, so someone making $50,000 might pay market rent, while someone making $250,000 might live in a rent-stabilized unit.
And market rent is about to go up. When 40% of the rental housing inventory gets a price freeze, guess what happens to the other 60%?
Second, lower-income tenants who DO have stabilized leases are hurt the worst.
Low-income tenants are most likely to live in buildings that are majority rent-stabilized. And those buildings are in the most financial danger.
Those are exactly the buildings that can't absorb a freeze.
When operating costs exceed rental revenue, buildings stop getting maintained. Violations pile up. Things break and don't get fixed. The building struggles and struggles, eventually going bankrupt.
And operating expenses will exceed rental revenue. 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.
More than 57,000 units rent-stabilized units across NYC are currently vacant, because landlords find it cheaper to keep it vacant than to make repairs. That number is about to get a lot worse, and it's the low-income tenants that get hurt first.
The people who come out fine? The 30% of rent-stabilized tenants earning six-figure incomes.
These tenants typically live in Class A luxury buildings that have a mix of both rent-stabilized units and market-rate units.
These buildings just jack up the rent on the market-rate units in order to stay solvent.
And so the people paying market rate pay even more, in order to subsidize their neighbors who make a six-figure income.
The freeze protects the people who need it least, and squeezes the people it was supposed to help.
@GavinNewsom What Newsom doesn’t tell us is that the top 10% pay more than 70% of federal income taxes..
10% of people paying 70% of taxes actually doesn’t sound fair at all. Especially considering the fact, the more you make, the more they take.
I think we can all agree June has been a seriously retarded month so it's going to be hard to decide.
Nominations are now open for Retard of the Month.
I'll go through every comment and pick from your nominations.
This clawing for more and more money from already heavily-taxed California citizens is nothing more than an attempt by Newsom to cover up his complete failure as a financial custodian of this state.
So, instead of fixing the all the fraud in this state, including his own, he's more than suggesting a communistic "financial structure." This is nothing but him and his fellow fraudsters wanting to continue their mismanagement of our tax dollars, while they do nothing to trim fat, pay down the debt, or fix fraud in their end.
Truly a spoilt brat, trust-fund child demanding that "mommy and daddy" tax payers keep handing him money, even though he lost or mishandled what you gave him yesterday.
"Democratize the American economy" is another poor and incorrect use of the word "democratize" and is nothing but a substitute term for socialism. Ditto with a "National Public Equity Fund."
Now he's going after the "top 10%," and not the top 1%.
If you are a California voter, check to see if you are in the "top 10%."
Image source:
https://t.co/h37k95ME3K
$ASTS
Well, @Rakuten is tagging specific SpaceMob members who are discussing the likelihood of Rakuten and $ASTS winning the J-LEO award.
It’s probably nothing 😏