The Mandami effect

[iluvatar5150]

A 15% YOY increase sounds pretty significant to me (and considerably more than "a couple dozen"). But as I've said all along, none of us knows how this will all play out.

From the same article:

According to the Realtor.com October Housing Report, while active listings nationwide rose 15.3% year over year, marking the 24th straight month of inventory growth, the pace of growth has slowed each month since May, hinting that post-pandemic inventory recovery may be plateauing.

Sounds to me like Westchester is keeping up with the national average.

 

[rambot]

If I understand correctly Mamdani want to freeze rent on the current rent restricted housing. Which only affects those already living there. The rest of Neq Yorkers will still struggle including all those voters who don't live in those apartments. In fact they will probably see their rents go up to make up the difference.

He also plans to tax apartments that are empty; where landlords keep places OFF the market, either because they require too much to fix up, or they want to keep an artificial press on the supply.
Either landlords can choose to fix it up and rent it, or (gosh) sell it to someone who'd want to live there.

Pretty sure NY has had rent freezes before and I don't recall the buildings burning down....

 

[Desk trauma]

Pretty sure NY has had rent freezes before and I don't recall the buildings burning down....

But this is an Islamic rent freeze!

 

[rambot]

But this is an Islamic rent freeze!

Ug! Sounds as evil as not charging interest on loans!!!

 

[FAITH-IN-HIM]

I reviewed Fox News following the election. Every host predicted that wealthy New Yorkers would leave the city due to the election results, with the exception of the hosts themselves. This may indicate the reliability of their statements.

 

[probinson]

From the same article:


Sounds to me like Westchester is keeping up with the national average.

So you're just going to gloss over the fact that the Realtor.com headline states:

Wealthy New Yorkers Are Preparing for a Mayoral Election Exodus—Sparking Luxury Bidding War in Affluent Suburbs​

Do you think that Realtor.com is a "right-wing reactionary outlet"? I mean, you said that was the only "evidence". But clearly you were mistaken. Realotr.com isn't known for its political discourse. So perhaps there is actually an uptick in wealthy New Yorkers moving to the suburbs despite your incredulity.

 

[rambot]

Who are the wealthy new yorkers going to sell their properties to? Or are they just going to eat the "vacant dwelling" tax that mamdani will put in?

 

[iluvatar5150]

So you're just going to gloss over the fact that the Realtor.com headline states:

Wealthy New Yorkers Are Preparing for a Mayoral Election Exodus—Sparking Luxury Bidding War in Affluent Suburbs​

Do you think that Realtor.com is a "right-wing reactionary outlet"? I mean, you said that was the only "evidence". But clearly you were mistaken. Realotr.com isn't known for its political discourse. So perhaps there is actually an uptick in wealthy New Yorkers moving to the suburbs despite your incredulity.

No, as far as I'm aware, realtor.com is not known for its political discourse, but that doesn't mean that the two people they cited aren't biased or political themselves. And the data they cite is weak at best. The clearest evidence is anecdotal reports from three agents from two firms. The statistics are a pile of bait-and-switches that obfuscate and conflate details that matter here.

So, no, it's not a right-wing reactionary site. But it is a site with weak journalistic standards and this particular piece was written by somebody who's only been working professionally for about a year.

 

[Danthemailman]

Governor DeSantis Invites NYC Police Officers to Serve in FL After Mamdani Win: "No reason to risk your life serving when the mayor hates you" | The Gateway Pundit | by Margaret Flavin

Following Zohran Mamdani’s mayoral victory in NYC last week, thousands have indicated plans to leave the Big Apple for a less socialist-loving community, and Florida Governor Ron DeSantis (R) is offering incentives to some New Yorkers seeking to escape.

www.thegatewaypundit.com

If I was a Police Officer in NYC, I would be on the first plane out of there to Florida!

 

[FAITH-IN-HIM]

He also plans to tax apartments that are empty; where landlords keep places OFF the market, either because they require too much to fix up, or they want to keep an artificial press on the supply.
Either landlords can choose to fix it up and rent it, or (gosh) sell it to someone who'd want to live there.

Pretty sure NY has had rent freezes before and I don't recall the buildings burning down....

Can a city mayor legally tax vacant apartments to compel landlords to repair or sell the property?

 

[FAITH-IN-HIM]

Governor DeSantis Invites NYC Police Officers to Serve in FL After Mamdani Win: "No reason to risk your life serving when the mayor hates you" | The Gateway Pundit | by Margaret Flavin

Following Zohran Mamdani’s mayoral victory in NYC last week, thousands have indicated plans to leave the Big Apple for a less socialist-loving community, and Florida Governor Ron DeSantis (R) is offering incentives to some New Yorkers seeking to escape.

www.thegatewaypundit.com

If I was a Police Officer in NYC, I would be on the first plane out of there to Florida!

I recall the day following last year’s presidential election. Many individuals I know, as well as those I observed online, stated that if Trump were to assume office, they would leave the United States. However, all of my acquaintances remain in the country. The only people who actually left are a few affluent Hollywood figures who had ceased making movies some time ago. They already spent much of their time in Europe, so over the next three years, this simply amounts to an extended vacation.

A similar pattern has emerged with this election: numerous people claim they will move elsewhere, but when it comes to actually leaving the city, most will stay where they are.

 

[rambot]

Can a city mayor legally tax vacant apartments to compel landlords to repair or sell the property?

They can fix it up and put in on the market. It's compelling them to do SOMETHING with thier property instead of just sitting on it.

They can choose their path.

 

[rambot]

Cleaning up new york, one gig at a time!

 

[Always in His Presence]

Sounds to me like Westchester is keeping up with the national average.

psst... Westchester County is NOT part of NYC, but where people are moving to - right?

 

[FAITH-IN-HIM]

They can fix it up and put in on the market. It's compelling them to do SOMETHING with thier property instead of just sitting on it.

They can choose their path.

I understand that the mayor, as well as individuals seeking apartments, may support this idea. However, is it legal for a city mayor to force a property owner to rent out or sell their property simply because it is vacant?

 

[Larniavc]

Yes and Londons a mess right now.

Don’t be silly.

 

[rambot]

I understand that the mayor, as well as individuals seeking apartments, may support this idea. However, is it legal for a city mayor to force a property owner to rent out or sell their property simply because it is vacant?

Nobody is being forced to do anything; they can continue doing EXACTLY what they've been doing and city rents in nyc would not improve?

Nobody is being forced to do anything except pay a tax if their apartment is vacant.

But they can be forced to pay that tax.

 

[Larniavc]

Every host predicted that wealthy New Yorkers would leave the city due to the election results,

I can’t help thinking a few less fatsos eating all the pie means more pie for everyone else.

 

[rambot]

I just saw New York is home to 250,000 millionaires.
Just imagine how that number skews data when having discussions around "average salaries" in New York.

Should they REALLY be worried about 25 of them leaving?

 

[Larniavc]

Who are the wealthy new yorkers going to sell their properties to? Or are they just going to eat the "vacant dwelling" tax that mamdani will put in?

I’m hoping the invisible hand of the market means that with all the rich folks selling up to leave for……. Alabama? Means that the prices will drop and the New Yorkers can snap up the properties more easily.