Rent stabilization is a rent control system that is supposed to allow NYC owners to raise their rents enough to cover the increases in expenses.
Instead, it creates a world where market rate rents skyrocket... driving market rate rents to all time highs and market rate landlords to record profits.
At the same time it creates an environment where buildings built pre-74 and that are 100% rent stabilized have no hope for solvency. These 100% rent stabilized buildings have lost more than 70% of their value over the last 7 years. If you own one, you will be bankrupt soon enough if you aren't already. I've already lost 15 buildings with many more to go.
Since Bill DB's first day in office (12 yrs ago), rent stabilized units have been given a total increase of 18%, and with a 2 year rent freeze this means 18% over 14 years.
At the same time the City's own data show that expenses in these apartments have risen 63% (and the city agrees that they ignore nearly 100 legitimate expenses from landlords including their mortgage payments, lead paint laws, LL97 laws, LL11 laws etc.... were the city to be honest, and count all of our expenses the increase in expenses would be well over 100%.)
Again.. an 18% rent increase over 14 years at the same time expenses have more than doubled.
Over this same period where rents increased 18%, the median income in NYC grew by 55% and evictions have moved to all time lows in NYC.
How did I do?
Firing up grill this weekend will be more expensive with cost of a July 4th cookout for 10 people rising to $73.82, up from $70.92 last year and $54.88 pre-Covid
@DataArbor
@JohnJHarwood Printing money we don’t have has lead to generational high inflation, causing immense hardship to working Americans.
We will be $40T in debt next month and reducing that amount should be the top priority for our leadership.
.@elonmusk says that no one can name a person who died from his aid cuts. In fact, I've met the kids who are dying, and I've talked to the families who lost children. In my columns, I've cited many, many names of people who have died because of Musk's aid cuts. A few examples:
*Yamah Freeman was a 23-year-old woman who died in childbirth because Musk cut funding for the diesel for ambulances in her part of Liberia. She couldn't get to a hospital and died as people were carrying her there. I talked to her parents and sister in their village.
*Gbessey Kiadu, age 1, died of malaria because of his cuts to malaria medication in Liberia. I talked to his mom in her village.
*Ibrahim Koroma, an infant, died of AIDS in Sierra Leone after he interrupted HIV supplies. I talked to health workers who cared for him.
*Achol Deng was an 8-year-old girl with HIV in South Sudan who died when Musk cut funding for the health care worker who provided her medicines. I talked to the healthcare workers.
I could go on and on. In almost every village you go to in South Sudan, Uganda, Liberia, Sierra Leone or other countries I reported in, you find people dying because of aid cuts. I challenge Musk: Come with me on a reporting trip, and we'll talk to these moms and dads, and you'll see the dying children themselves. I think if you see the kids whose lives are at stake, maybe you'll change your mind.
@awstar11@desslocktx Paxton fits in well with the ‘non-conservative & corrupt’ crop of politicians that find a home in the Trump era of republicans.
Better than Telerico, but that’s not saying much
@pure_chicanery@1lynnanderson51@JohnJHarwood Somalians are more likely to support slavery than gay rights and this is the culture you want to bring to America https://t.co/uIcxIOqU2y.
@1lynnanderson51@pure_chicanery@JohnJHarwood https://t.co/celTaFvEUf this is the culture you want to bring into the US?
(There is no ‘civil rights’ movement in Somalia re gay rights bc they all support these laws)
@pure_chicanery@1lynnanderson51@JohnJHarwood Right. Go and ask these Somalians how they feel about gay marriage and respect/tolerance for other religions and you’ll quickly find out what real bigotry is.
@1lynnanderson51@pure_chicanery@JohnJHarwood They don’t want to live as Americans. They want to live as Somalians in America (w/all the benefits but none of the responsibilities)
@JohnJHarwood 250,000 young women were raped by Muslim gangs in the UK because politicians were afraid of being called ‘racist’.
John is trying as hard as he can to create that same atmosphere here in the US