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NYC Tenants getting paid millions to move

By junkmail following x   2016 Nov 21, 11:06am 6,135 views   33 comments   watch   nsfw   quote     share    


Wife just told me a good friend moved out of his long time rent controlled NY apartment (we've stayed there when visiting our kid in college).
"How much I asked?"
$1,000,000
"Bullshit."
So I googled it and it is going off, all over NYC (more so in 2015).
Largest settlement?
$25,000,000 for 2 tenants.

Things are are really upside down.

http://www.nytimes.com/2015/12/25/nyregion/new-york-builders-paying-huge-buyouts-to-tenants-in-their-way.html?_r=0

http://www.crainsnewyork.com/article/20151005/REAL_ESTATE/151009954/david-rozenholc-the-most-feared-tenant-lawyer-in-the-city-just-won-25-million-for-a-client


#housing #newyork #nyc #rentcontrol #renting #economy #bubble

1   APOCALYPSEFUCKisShostikovitch   ignore (38)   2016 Nov 21, 11:08am   ↑ like (4)   ↓ dislike (0)   quote   flag        

Wow, they could buy Bridgeport and live as ruling monarchs for that kind of money.

2   curious2   ignore (0)   2016 Nov 21, 5:09pm   ↑ like (2)   ↓ dislike (0)   quote   flag        

Straw Man says

Go fly a small plane over SFBA and it's amazing how empty it really is.

And how much of it consists of parking lots and low-rise construction.

SFBA props up RE prices by zoning&planning restrictions. NYC does the same, allowing more construction than SFBA but not so much as to risk repeating the boom&bust of the 1960s&70s.

Both NYC and SF have tenant majorities. If ever tenants choose to vote their own interests instead of voting their landlords' interests, housing supply will increase and RE prices will fall. Luckily for landlords, most voters can usually be fooled to vote against their own interests, at least so far. Meanwhile, a few lucky tenants can cash out when they want to retire, while most remain trapped: unable to move, barely able to stay.

3   APOCALYPSEFUCKisShostikovitch   ignore (38)   2016 Nov 21, 5:45pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

If anyone can afford to live indoors, the market is underpriced and the government must intercede in the name of FREE!dom of the marketplace!

4   NoYes   ignore (2)   2016 Nov 21, 6:40pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

My BIG city was created by Big Liberals and is run by Big Liberals and Nothing Is Gona change it! it's a perfect heaven for me....NOT!

5   missing   ignore (1)   2016 Nov 22, 8:51am   ↑ like (0)   ↓ dislike (3)   quote   flag        

There's nothing more dangerous than little knowledge.

6   missing   ignore (1)   2016 Nov 22, 12:05pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

LOL. Don't flatter yourself. I only talk about the subject - what you have written - BS.

7   missing   ignore (1)   2016 Nov 22, 12:16pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

You made a far fetched claim about the future, YOU are the one who needs to provide support that it is a likely outcome. I suggested what you need to do to show, as a minimum, that it is possible at all.

As for calling me stupid - you are wasting your breadth; 0% chance of offending me there.

8   zzyzzx   ignore (1)   2016 Nov 22, 4:48pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Straw Man says

Go fly a small plane over SFBA and it's amazing how empty it really is.

That big empty space that you saw was the San Andreas Fault..


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