Once again...

NYC is getting what they voted for, as long as you’re NOT a property owner...

New York City Mayor Zohran Mamdani kicked off his plan to “fix” the city’s affordability crisis with his official housing policy agenda, titled “Block by Block,” under which one of the first priorities is to allow the government to seize property from owners deemed “negligent” and redistribute it to so-called “responsible stewards,” a category that includes anyone from land trusts, nonprofits, or even tenants themselves.

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“Through our new citywide campaign, Fix the City, we will focus on the worst landlords in New York City,” Mamdani announced. “When necessary, we will take aggressive legal action to remove negligent owners and property managers. And for buildings that have suffered chronic neglect, we will work to transfer ownership to responsible stewards. Stewards that include community land trusts, non-profits, or even the tenants themselves.”

Full article, HERE from Town Hall.

Soooooo, Mamdani’s people are going to decide ‘who’ is negligent and take the property and give it to somebody else...

Does this make ANY sense??? And what is their definition of a ‘community land trust? It is well known that rent control is one of the reasons upkeep has been less than perfect, because the upkeep costs more than the property is bringing in, but that is not the owner’s fault.

I know from my own family’s experience that rental properties are not supposed to be a losing proposition, much less one that costs you money every month. I wonder how many of the actual property owners in NYC might actually be ‘happy’ to get rid of properties?

In other news, I wonder how far behind NYC Seattle and LA are going to be? We know what the new Seattle mayor is saying, and if Bass wins LA again...well, bets are off there too!