Latest Breaking News

and the city told me I couldn't charge market rates, I'd sue them. Realistically, affordable housing only happens when Federal, State and Local agencies work together to provide subsidies for rental assistance or build government-owned rental housing (think Section 8 & HUD).

From a renter's perspective, YeeHaw Rent Control! Yay! From a landlord's perspective, rent control is pernicious. You can't sell your building if your profits are tightly limited or non-existent.

Unless the government backfills the lost profits, why would any landlord agree to participate in that type of program? It only works when apartment buildings are sitting empty and landlords want a steady stream of any type of renter just to fill the rooms with paying tenants.

It will be so interesting to watch what Mamdani does to fix this endemic problem.