Hello There, Guest! (LoginRegister)

Post Reply 
Rent Control and other silly ideas
Author Message
Bookmark and Share
tanqtonic Online
Heisman
*

Posts: 8,274
Joined: Nov 2016
Reputation: 340
I Root For: rice
Location:
Post: #1
Rent Control and other silly ideas
Hard to shoehorn this into any current live thread, albeit the topic has arisen before in them. That being said, once again the problems of trying to legislatively mandate basic economic principles has some shortcomings, many of which any short-brained person in Econ 101 could predict:

Quote:According to a January survey conducted by the Community Housing Improvement Program (CHIP)—a trade association representing owners of rent-stabilized buildings in New York City—69 percent of building owners have cut their spending on apartment upgrades by more than 75 percent since the passage of the state’s rent regulations. Another 11 percent of the landlords in the survey decreased investments in their properties by more than 50 percent.

The new law’s limits on recouping the costs of renovating apartments mean it is often more financially feasible to leave old apartments vacant.

“A big majority of our housing stock of stabilized units have been occupied between 40 and 50 years. These units require up to $100,000 and sometimes more, to complete a gut rehabilitation. You don’t need to be a genius to understand it makes no sense to invest that much only to get an $83.00 rent increase,” one survey respondent told CHIP.

The Commercial Observer reports that the new rent laws are encouraging small- and mid-sized landlords to exit the market entirely, writing that “many property owners have woken up to a world where their buildings are worth 30 to 50 percent less than they were a year ago.”
(This post was last modified: 02-03-2020 09:10 AM by tanqtonic.)
02-03-2020 09:09 AM
Find all posts by this user Quote this message in a reply
Advertisement


OptimisticOwl Offline
Legend
*

Posts: 45,244
Joined: Apr 2005
Reputation: 606
I Root For: Rice
Location: Paradise

The Parliament AwardsNew Orleans BowlFootball GeniusCrappiesDonatorsDonators
Post: #2
RE: Rent Control and other silly ideas
(02-03-2020 09:09 AM)tanqtonic Wrote:  Hard to shoehorn this into any current live thread, albeit the topic has arisen before in them. That being said, once again the problems of trying to legislatively mandate basic economic principles has some shortcomings, many of which any short-brained person in Econ 101 could predict:

Quote:According to a January survey conducted by the Community Housing Improvement Program (CHIP)—a trade association representing owners of rent-stabilized buildings in New York City—69 percent of building owners have cut their spending on apartment upgrades by more than 75 percent since the passage of the state’s rent regulations. Another 11 percent of the landlords in the survey decreased investments in their properties by more than 50 percent.

The new law’s limits on recouping the costs of renovating apartments mean it is often more financially feasible to leave old apartments vacant.

“A big majority of our housing stock of stabilized units have been occupied between 40 and 50 years. These units require up to $100,000 and sometimes more, to complete a gut rehabilitation. You don’t need to be a genius to understand it makes no sense to invest that much only to get an $83.00 rent increase,” one survey respondent told CHIP.

The Commercial Observer reports that the new rent laws are encouraging small- and mid-sized landlords to exit the market entirely, writing that “many property owners have woken up to a world where their buildings are worth 30 to 50 percent less than they were a year ago.”

I bet the loss in value will not be reflected in their property taxes.

I just wonder who those landlords wanting to sell are going to sell to.
02-03-2020 10:55 AM
Find all posts by this user Quote this message in a reply
Owl 69/70/75 Offline
Just an old rugby coach
*

Posts: 66,176
Joined: Sep 2005
Reputation: 1775
I Root For: RiceBathChelsea
Location: Montgomery, TX

DonatorsNew Orleans Bowl
Post: #3
RE: Rent Control and other silly ideas
The smart ones got out years ago, when the first rumblings of rent control were being made. They didn't buy the assurances that the government would consider their needs. The only recourse the remainder have left at this point is to find some foreign investor who is simply seeking to get cash out of his homeland--dumb, scared money, as Peter Zeehan describes it. Those folks will buy those properties, make absolutely no repairs of improvements, and if they sell it in 10 years for 50 cents on the dollar, be happy because the money didn't get seized by their home governments.
02-03-2020 11:15 AM
Find all posts by this user Quote this message in a reply
Advertisement


Fountains of Wayne Graham Offline
2nd String
*

Posts: 288
Joined: Jun 2019
Reputation: 11
I Root For: Rice
Location:
Post: #4
RE: Rent Control and other silly ideas
02-03-2020 03:37 PM
Find all posts by this user Quote this message in a reply
tanqtonic Online
Heisman
*

Posts: 8,274
Joined: Nov 2016
Reputation: 340
I Root For: rice
Location:
Post: #5
RE: Rent Control and other silly ideas
9 of the 10 richest Americans made their own fortunes.

12 of the Top 20.

Of the remaining 8, 7 of them are the kids of people who made the money.

1 is more removed than that.

Of the 7, 3 are Waltons and 2 are Kochs.

The horrors of this economic system.... the sheer horror.....
02-03-2020 03:49 PM
Find all posts by this user Quote this message in a reply
Advertisement


RiceLad15 Offline
Hall of Famer
*

Posts: 10,794
Joined: Nov 2009
Reputation: 97
I Root For: Rice Owls
Location: H-town
Post: #6
RE: Rent Control and other silly ideas
(02-03-2020 03:49 PM)tanqtonic Wrote:  9 of the 10 richest Americans made their own fortunes.

12 of the Top 20.

Of the remaining 8, 7 of them are the kids of people who made the money.

1 is more removed than that.

Of the 7, 3 are Waltons and 2 are Kochs.

The horrors of this economic system.... the sheer horror.....

If we're measuring the American dream by how our billionaires made their fortunes, we're doing it wrong.
02-03-2020 04:09 PM
Find all posts by this user Quote this message in a reply
tanqtonic Online
Heisman
*

Posts: 8,274
Joined: Nov 2016
Reputation: 340
I Root For: rice
Location:
Post: #7
RE: Rent Control and other silly ideas
(02-03-2020 04:09 PM)RiceLad15 Wrote:  
(02-03-2020 03:49 PM)tanqtonic Wrote:  9 of the 10 richest Americans made their own fortunes.

12 of the Top 20.

Of the remaining 8, 7 of them are the kids of people who made the money.

1 is more removed than that.

Of the 7, 3 are Waltons and 2 are Kochs.

The horrors of this economic system.... the sheer horror.....

If we're measuring the American dream by how our billionaires made their fortunes, we're doing it wrong.

I was making the comment as a retort to the implied mantra that no one can get ahead that the linked article noted.

The fact that 9 of 10 pretty much did it on their own speaks mountains to that. I guess that is lost on you.
02-03-2020 05:20 PM
Find all posts by this user Quote this message in a reply
Advertisement


OptimisticOwl Offline
Legend
*

Posts: 45,244
Joined: Apr 2005
Reputation: 606
I Root For: Rice
Location: Paradise

The Parliament AwardsNew Orleans BowlFootball GeniusCrappiesDonatorsDonators
Post: #8
RE: Rent Control and other silly ideas
(02-03-2020 05:20 PM)tanqtonic Wrote:  
(02-03-2020 04:09 PM)RiceLad15 Wrote:  
(02-03-2020 03:49 PM)tanqtonic Wrote:  9 of the 10 richest Americans made their own fortunes.

12 of the Top 20.

Of the remaining 8, 7 of them are the kids of people who made the money.

1 is more removed than that.

Of the 7, 3 are Waltons and 2 are Kochs.

The horrors of this economic system.... the sheer horror.....


If we're measuring the American dream by how our billionaires made their fortunes, we're doing it wrong.

I was making the comment as a retort to the implied mantra that no one can get ahead that the linked article noted.

The fact that 9 of 10 pretty much did it on their own speaks mountains to that. I guess that is lost on you.

The democrats are running three billionaires. How did they make their money?
(This post was last modified: 02-03-2020 05:58 PM by OptimisticOwl.)
02-03-2020 05:58 PM
Find all posts by this user Quote this message in a reply
tanqtonic Online
Heisman
*

Posts: 8,274
Joined: Nov 2016
Reputation: 340
I Root For: rice
Location:
Post: #9
RE: Rent Control and other silly ideas
(02-03-2020 05:58 PM)OptimisticOwl Wrote:  
(02-03-2020 05:20 PM)tanqtonic Wrote:  
(02-03-2020 04:09 PM)RiceLad15 Wrote:  
(02-03-2020 03:49 PM)tanqtonic Wrote:  9 of the 10 richest Americans made their own fortunes.

12 of the Top 20.

Of the remaining 8, 7 of them are the kids of people who made the money.

1 is more removed than that.

Of the 7, 3 are Waltons and 2 are Kochs.

The horrors of this economic system.... the sheer horror.....


If we're measuring the American dream by how our billionaires made their fortunes, we're doing it wrong.

I was making the comment as a retort to the implied mantra that no one can get ahead that the linked article noted.

The fact that 9 of 10 pretty much did it on their own speaks mountains to that. I guess that is lost on you.

The democrats are running three billionaires. How did they make their money?

Have you read about the 1.5 billion that Bloomberg is putting into play all across the Democratic party?

200 million on his own campaign, another 200 million into the DNC at this point, and giant boatload of cash to PACs based both on subject and candidate.

Steve Bannon alluded to it and commented on it over the weekend. Really interesting move on Bloomberg's part. Bannon painted the picture not of Bloomberg wanting to be President, but permanently moving the Democrats to a near-socialist position.

I would always take Bannon with a sack of salt, but the remarks were intriguing.
02-03-2020 06:18 PM
Find all posts by this user Quote this message in a reply
Advertisement


OptimisticOwl Offline
Legend
*

Posts: 45,244
Joined: Apr 2005
Reputation: 606
I Root For: Rice
Location: Paradise

The Parliament AwardsNew Orleans BowlFootball GeniusCrappiesDonatorsDonators
Post: #10
RE: Rent Control and other silly ideas
(02-03-2020 06:18 PM)tanqtonic Wrote:  
(02-03-2020 05:58 PM)OptimisticOwl Wrote:  
(02-03-2020 05:20 PM)tanqtonic Wrote:  
(02-03-2020 04:09 PM)RiceLad15 Wrote:  
(02-03-2020 03:49 PM)tanqtonic Wrote:  9 of the 10 richest Americans made their own fortunes.

12 of the Top 20.

Of the remaining 8, 7 of them are the kids of people who made the money.

1 is more removed than that.

Of the 7, 3 are Waltons and 2 are Kochs.

The horrors of this economic system.... the sheer horror.....


If we're measuring the American dream by how our billionaires made their fortunes, we're doing it wrong.

I was making the comment as a retort to the implied mantra that no one can get ahead that the linked article noted.

The fact that 9 of 10 pretty much did it on their own speaks mountains to that. I guess that is lost on you.

The democrats are running three billionaires. How did they make their money?

Have you read about the 1.5 billion that Bloomberg is putting into play all across the Democratic party?

200 million on his own campaign, another 200 million into the DNC at this point, and giant boatload of cash to PACs based both on subject and candidate.

Steve Bannon alluded to it and commented on it over the weekend. Really interesting move on Bloomberg's part. Bannon painted the picture not of Bloomberg wanting to be President, but permanently moving the Democrats to a near-socialist position.

I would always take Bannon with a sack of salt, but the remarks were intriguing.

The minute you said "Bannon" Democrat's minds all over snapped shut. Nothing you said was read or considered. For them, the source is always more important than the message.

Interesting, that the dems have three, count them, three billionaires in the field. Wang, Steyer and Bloomberg. I don't think any of them inherited their wealth, but I could be wrong.
02-03-2020 06:38 PM
Find all posts by this user Quote this message in a reply
tanqtonic Online
Heisman
*

Posts: 8,274
Joined: Nov 2016
Reputation: 340
I Root For: rice
Location:
Post: #11
RE: Rent Control and other silly ideas
02-05-2020 07:22 PM
Find all posts by this user Quote this message in a reply
Post Reply 




User(s) browsing this thread: 1 Guest(s)


Copyright © 2002-2020 Collegiate Sports Nation Bulletin Board System (CSNbbs), All Rights Reserved.
CSNbbs is an independent fan site and is in no way affiliated to the NCAA or any of the schools and conferences it represents.
This site monetizes links. FTC Disclosure.
We allow third-party companies to serve ads and/or collect certain anonymous information when you visit our web site. These companies may use non-personally identifiable information (e.g., click stream information, browser type, time and date, subject of advertisements clicked or scrolled over) during your visits to this and other Web sites in order to provide advertisements about goods and services likely to be of greater interest to you. These companies typically use a cookie or third party web beacon to collect this information. To learn more about this behavioral advertising practice or to opt-out of this type of advertising, you can visit http://www.networkadvertising.org.
Powered By MyBB, © 2002-2020 MyBB Group.