Posted by Sir Loving on May 13, 1997 at 21:07:33:
Where's the rest of Pataki's plan? What's the limit on how much a Landlord can make? How come those Johnny-come-lately-landlords and rich real estate investors, who don't even live in their newly acquired buildings, get to decontrol any building's apartments? When someone moves do they just get higher rents, increase their bottom line and then brag? Some of them don't even live in or care about the City or the State. Where does the tenant get to live after the vacancy rate rises above 5% due to the new absurd prices on vacant apartments and all apartments become deregulated? Some of the oldest tenants have paid more in rent, over the years, than the new landlord has invested in the building! How much above 5% is he going to raise the vacancy rate threshold to ensure remaining tenants will still be protected for life as he claims in his proposal? Just because apartments are vacant doesn't mean they'll be affordable to live in when prices go through the roof. Without any control on prices, a true housing emergency will exist, even at a 25% vacancy rate. Who can afford $4,500.00 for a one bedroom? That's more than much entire family's can earn in a month before taxes. I think Silver is right on the ball when he says that Pataki's plan is for the birds.
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