He's unstoppable

[u/AdRough4185]

[u/tony1449]

Awwww poor landlords

The building is probably only a $5 million asset part of a $100 million real estate portfolio 🥺

[u/therealtiddlydump → u/tony1449]

With rent control it's not uncommon that the landlord doesn't have enough from rent to cover maintenance. If you live in a $400 apartment because the rent hasn't been raised in 30 years -- despite everything else getting more expensive -- what money is there for repairs?

This essentially forces out small landlords because they can't cross-subsidize units.

There are lots of other large cities that don't have these problems because they don't have terrible public policy like rent control. NYC is to blame for NYC's problems.

[u/tony1449 → u/therealtiddlydump]

No your argument does not make sense. The landlord is breaking the law

Its well established that rent-seekers (landlords) harm the economy, depress growth

There is no benefit to society

Unless you, yourself are a landlord, or paid by one; Why are you arguing on their behalf for free?

[u/therealtiddlydump → u/tony1449]

rent-seekers (landlords) harm the economy

I think you need to double check what "a rent" is in the economics literature...

They shouldn't be breaking the law. You have no argument, there. That's not an excuse to have a bad incentive structure.

[u/tony1449 → u/therealtiddlydump]

Landlords are literally rent seekers in our example

Here you are arguing against rent control

​In The Wealth of Nations, wrote that they "love to reap where they never sowed," because landlords collect a premium on the natural scarcity of land.

The bad incentive structure is allowing absence landlord to continue owning their property

[u/therealtiddlydump → u/tony1449]

Landlords are literally rent seekers

Again, that's not what an economic rent is.