So are a third of the residents of NYC (in that home illegally)
Which would be rent control shenanigans. The incentives are great. Rent control is one reason my artist cousin and her artist husband stay in NYC. (They own a house in flyover country, so they aren't stuck in NYC.) My cousin's husband took over a loft empty shell in the 1970s. He made it habitable: installing flooring himself, for example. In return, he got a rent-controlled rate which is now at $600 per month, when other units in the building go for $6,000-$8,000 per month.
I believe that when a rent-controlled apartment changes hands, rent control is supposed to stop. But rent-controlled tenants will sublease at a price between the rent-controlled rate and the market rate. Illegal, perhaps, but a good deal for those involved. A similar deal when import duties are super high. Smuggle the goods in, and the fun begins.
Exactly. Cynics used to say that laws are for the little people. Now they’re not for the little people either. They’re just for you.
ReplyDeletehttps://x.com/Not_the_Bee/status/1852910626990924112
ReplyDeleteSo are a third of the residents of NYC (in that home illegally)
ReplyDeleteWhich would be rent control shenanigans. The incentives are great. Rent control is one reason my artist cousin and her artist husband stay in NYC. (They own a house in flyover country, so they aren't stuck in NYC.) My cousin's husband took over a loft empty shell in the 1970s. He made it habitable: installing flooring himself, for example. In return, he got a rent-controlled rate which is now at $600 per month, when other units in the building go for $6,000-$8,000 per month.
I believe that when a rent-controlled apartment changes hands, rent control is supposed to stop. But rent-controlled tenants will sublease at a price between the rent-controlled rate and the market rate. Illegal, perhaps, but a good deal for those involved.
A similar deal when import duties are super high. Smuggle the goods in, and the fun begins.
Gringo, I wondered about the number. I thought maybe she was referring to illegal immigrants, but 1/3 seemed a pretty high number.
ReplyDeleteI really did not have squirrel and raccoon on my bingo card for this election.