Paying other people’s energy happens A LOT! Always check your bill for inconsistencies. They don’t care who the money comes from as long as they get it
10:00 I love this "nobody is holding a gun to your head" argument, they use it for jobs, for renting property and such. But really it's just a trick because it works on the assumption that you do have favorable options to choose from in a given circumstance. If all your available options are the same (and all unfavorable), are you really choosing? Are you actually free and able to create a better situation for yourself? Or you are just running in a hamster wheel that only creates the illusion of choice and freedom?
Yah, nobody held a gun to your head but they DID hang : * Potential houselessness * The risk of not being able to pay for food, heat, electricity, etc Which come with increased risks of death cause physical and mental harm. So basically a prolonged death.
exactly. it's the 'you don't have to work a minimum wage job' argument. The alternative is often poverty and homelessness. These aren't exactly options.
BREAKING NEWS: No one is guaranteed a happy, healthy, or long life. If you don't like the hunger, fear, & suffering that comes with existence, don't be a psychopath and force it on someone else via procreation
Tony 1 second ago you are free. only thing rent control does is decrease housing stock so you are just kicking the stone a while. If these laws pass only ones renting property will be large investors who could afford to leave empty units, hog up subsidies etc. leaving small investors to afraid to invest. problem is that wages are to low, need to better your options ,move to an area where your skills are better appreciated, or rents are low
Yes you do have favorable options stop using other people’s properties and start living by yourself. I love this “I can use whatever I want that other people built” argument it really shows how stupid socialism is
I’m a new yorker and it would be great if my last landlord didn’t raise rent $300 one year after lowering rent to get me in the door in the first place. There should definitely be a warning like “hey this is a deal and we’re artificially suppressing the price to get you in and we’re going to raise it past market price the next year so we can get someone else in”
I believe it was “vacation rentals” not “vacation homes” - a big difference that the so-called comedian tried to make light of because he made a bad assumption, that the person with “vacation rentals” had a second “vacation home”.
We have decided to NOT build a 30 unit apartment, and are selling our existing properties. The horrifying tenants, evil govt laws aren't worth it. We'll put our money in the stock market instead and not have ay holes forcing us to house people for free and pay all their utilities for years at a time
These laws are so antiquated. When I was an Ohioan renter I never so much as changed my own lightbulb in about 12 years and retaliation for such things never crossed my mind. I thought a) this was true for every renter, nationwide and b) New York was much more progressive than my corn and cow town. Oh and I don't know why that lawyer thinks he can convince people *universal rent control* is a bad thing. That would be enough to make me move to new york and bring one of the biggest bonsai companies on the planet!
@@nocheapdopamine725 An addictive personality! Lol. My daughter bought me one out of nowhere. I really like it. Less than a year later my house was full of them. A friend asked "you ever think about selling some of these on eBay?" I honestly didn't have a whole lot of luck with that. Too much competition. But I live in the art district of my city. So during the summer festivals I'd set up a booth, entirely unlicensed. 20 months later I was opening my first shop. The rest is history.
It's honestly one of the biggest hypocrisies about "liberal" places that really shows you where the real divide is. A lot of liberal places are only socially liberal - so they won't lynch you for being non-white or LBGTQ+, but they're almost just as capitalist as Texas. Washington state, for instance, has no state income tax - only a high sales tax. This is obviously due to the big tech lobby, and Amazon has shown how easily they'll flit around for even greater profit. Cracking down on this disgusting behavior can only happen at a federal level.
Slumlords in New York City must be making bank. Imagine that: you can buy a vacation home upstate by renting out cockroach-filled apartments. Now that's the real American Dream.
we've had a tenant that hasn't paid rent for almost 1 year (in February) citing 'financial hardships' due to Covid. He's a real estate agent, selling homes left and right but understands the 'game' and how there's tenant protections. What do we do about these tenants?! We've been trying to evict but the courts are at a standstill.
@@owenboyle7220 We are getting out of the rental property business because of evil psychos like yourself. The moratorium was the last straw. Our money will do way better in the stock market. Hopefully you'll wind up homeless or finding affordable housing 100 miles from your employer 😃👍
One thing I never understood is that renters feel if they rented a apt for a certain length of time , they magically transition into owning the apt , and have say of what happens with their RENTED apt.
The whole idea that rent stabilization only applies to certain apartments now makes no sense. Why do those specific people need protection and others don’t?
10:09 “no one held a gun to your head to make you sign a contract for a rent you couldn’t afford.” But that’s the exact argument: tenants signed a contract for a rent they COULD afford, but the landlord is able to increase rent BEYOND what the tenants can afford by eviction and getting new tenants.
Totally agree. This is a free market. You can put any price to your property. No body is saying that the Monalisa painting is to expensive they should reduce the price so poor people can afford it if you don't like the price just don't buy it. I you can not afford New York Move to another estate. But those tenants they can not afford to pay the rent but they can afford to buy the iPhone and their nice car. They making the richer richer and affecting the middle class that has not million they take the money from middle class landlords to give to apple and amazon. This makes not Fu......Kn sense.
Exactly, they signed a contract for a specific period with a specific price. Once the period is over, you can renegotiate a new contract for a different period and price, what is wrong with that?
I’ve lived as a renter in Los Angeles for nearly 30 years-18 of them in my current apartment. I’m always shocked to hear that the basic tenants’ rights protections renters have where I live aren’t “the law of the land” in (at least) major urban centers across the country. But, then again, “wE LiVe iN a CaPiTaLiSt sOcIeTy” so…
Why are you shocked to discover that in a free country, landlords enjoy basic property rights, including the right to decide with whom they wish to do business?
Just remember when you get the NYT or Time magazine or Vogue or watch mainstream media it is all the same conglomerate that pretty much runs everything and everything is filtered and controlled.
Bruh how do they expect to evict their current good tenants, remodel and make room for more “higher paying” tenants when almost everyone is broke? 😂😂😂 I’ve seen so many luxury high rises and condos here in my city with so many empty units because REGULAR PEOPLE CAN’T AFFORD THEM LMFAOOOOO. They’re doing themselves a disservice.
Well, yes...because he's completely ignoring the moral laws of interconnection of all of us for the civic legalities of licensed theft and financial brutality....
@@LauncherSpiderMk7 Explain where price controls have been successful. All that this will do is make it so your apartment you live in now is the one you will die in. Also that more people will wind up homeless. YOu get this right? Like this is Basic Economics 101.
This guy only covered half of the apartment-rental issue in New York City. He covered the part of "market-rate" apartments where landlords can raise the rent as high as they want to. 44% of the apartments in New York City ARE "rent-stabilized" and can only be raised a very small percentage each end of lease term, a percent set by the City Rent Guidelines Board. The law for rent stabilized apartment is they must offer me a lease renewal unless the landlord plans to move into my place himself. It's a better deal than this video shows. My next rent increase will only be a few percentage points as I'm NOT in a market-rate apartment.
@@Tribute7373 if that's the case then why should landlords care if tenants have no where to go....move out so people who can afford it and more deserving can move in
It is the owner's property and once the lease is up, they are under no obligation to renew it at the end of the lease. Not a fan of the bill. This is like an automatic guarantee of a renewel of a lease. What really needs to change is we need to build more affordable housing and change FHA policies to support Condos, Co-Cops, and change the regulations involving mobile homes and allow for true home ownership in those areas. We also need to stop prioritizing/valuing single family houses and building them. There are way too many myths out there in there housing industry about community housing that the government needs to address through updates policies based on data.
At time stamp 10:00, ``I say this is a Capitalist society'' is a response to `what do you say to the average New Yorker whose life will be made less precarious with the passage of the Good Cause Eviction bill?' . What that reply really means is `the business class elite are more deserving of dignity than ordinary working people'. It doesn't matter if wages do not track the increasing productivity of the working class. All that matters is money in their already fat pockets.
My tenants are highly educated and we landlords are ordinary people. Many of the landlords I know did not have money for college, were often too sick or taking care of sick family to finish high school and yet all scrapped together to buy just one studio apt in the south of brooklyn. And now their expenses are higher than their income and they themselves have to live without hot water, are suicidal etc. I am not sure you understand how many landlords are far from elite and are "ordinary" people.
They always use "capitalism" and "freedom" to justify their mistakes. Like as if people care abt which economic system The USA is using LOL. A perfect response to these dumb statements is just "Wanne know which countries are also capitalistic??? European ones, you don't see them forcing their people out because they want more money"
Sell it to who? As the laws changed, the demand dissapeared. All if us that I know and feel free to call me if you have a buyer have exoenses that exceed the rental income. That us taxes, upkeep such as painting every three years, repairing plumbing, etc. So we are all taking losses, can't sell them ( please bring us buyers) and must subsidize very wealthy renters.
Such a law has existed here in Germany for decades. The problem is that landlords can abuse the good causes (esp. use for themsleves or their family) rather easily by pretending to live in the place for a year or so while they renovate it, then rent it out again for much more than before. The law must be adjusted to minimum term of use (five years or more) and/or oblige the landlord to offer the old renter to move back in by the original contract terms if he stops using the place himself.
@@jeffreywilheim5970 That's a very elitist thing to say that only a privileged person with little or no empathy for others can even think of. Laws need to protect the weak people in society.
@@brushemteeth9159 Laws need to protect the basic rights of all people in society, including the right to decide with whom to do business. There is no moral entitlement to live on someone else's property.
@@jeffreywilheim5970 There is a basic right (and need) to housing at an affordable rent. Every landlord is privileged and bears responsibility toward the actively working tenants who pay him rent while he can sit still and enjoy his passive income. If you don't want this responsibility, don't invest in housing.
@@Tribute7373 OK. So then why aren't these extremist left government politicians and housing Advocates and supposed volunteers create such housing for this urgently needed situation VS forcing housing providers /aka/ landlords who did not sign up to house con artists, bums, addicts, the homeless, criminals, etc. with money these landlords most likely don't even have?!?!
Fundamentally the problem is large corporations (blackrock...) have gotten into the rental market. In some areas they control over 90% of the rental stock. This leads to rampant price increases, abusive terms and contracts etc. And of course, rent has far outpaced inflation and wages. Put a bill like the above in for landlords that own over .... 5? properties. Protect the little guy. Limit the big guy.
I am a little guy only one property 2 familly house i live in one unit. Thet big corporation is not affected they have millions of dollars. The lazy criminal tenant that does not want to pay rent nothing happen. Me i don't pay my mortgage in 4 mounths i loose the hosue that it took me 4 years working 2 fu.......king jobs to buy just for the down payment but this lazy people that are spending their money on iphones and netflix now i am loosing my house because they don't want to pay. This system is creating criminals. So now when this people want an Iphone and don't have money they are going to steal it from the store when they want money and they don't have they will go to rob a bank.
@@andressabio9440 Even locking them into the current price, rent in NYC is still much higher than almost any other city in the country. And this is not even locking them in place at all. Synching it to the national inflation rate is completely reasonable. The inflation rate is super high right now anyway. So the rent control aspect is not exactly gonna swing the advantage back to the renters, it just going to prevent an already major problem from spiraling past the tipping point. And as far as blocking evictions, it only applies to pretty specific and narrow circumstances - the tenant has to have been consistently on time with their rent, not been disruptive or a nuisance, and not broken the terms of lease agreement. Show me an example of an eviction that happened under those circumstances that *doesnt* look like an injustice against the tenant and maybe you'll be more convincing, because I am having a very hard time imagining one. But your point about the higher income requirements is fair enough. But it will only be an issue if there is legitimately more demand than supply. Because again, the rents are *already* outrageous here. The trend of buying property in Manhattan as an investment vehicle can only be taken so far, a city full of empty apartments and unused office space stops appreciating when nobody can afford to actually live there, and remote work has meant that the few people who can afford to live there no longer need to. And then all those expensive investment properties start dropping in value fast. It seems to me that anyone already invested in this market should also want to protect their investment by setting some reasonable limits to what other, more greedy investors may try to do that risks overheating the market and bursting the bubble.
Wow, that man had a really toxic way of looking at renters in round 4. I don't think most people get into a lease intentionally trying to get a place that's beyond their means but it just ends up that way as rent is increased. Which is exactly one of the purposes of this bill, to prevent unfair price hikes. This is why I view capitalism as the serpent that eats itself, it's not sustainable and will only implode in on itself because exponential growth can't be maintained. Edit: Forgot to add, loved the video. That scene of you and the bill in the window reflection, really inspires me to try that in one of my future videos for my other channel.
And yet, even with the price hike they eventually find a new person/family to rent to... its almost as if there is a supply and demand of some sort....
There is no "unfair" renting price: the renting price is determined by the free market. I'm always mind-boggled by these leftish claims. It's not THAT difficult to see: a property, service or good is worth what one wants to pay for it. That's the TRUE worth of it. There is NO other judge of what something is "really" worth, but that which people think it's worth. Also, worth to note: all historical hard data points to the fact that the populace as a whole is always better of with a capitalistic system, then a socialist/communist o,ne. Capitalism Is actually the biggest contributor to get people out of poverty, NOT socialism/communism. I always laugh at the "it's not sustainable", while capitalism is still around after 200 years, and communism has long since decayed within 80 years. Or even mere socialism, like in Venezuela, even in 20 years. Ah yes, the vile capitalism... that's why people from socialist Cuba risk en masse their life to get into dirty capitalistic USA in shabby boats crossing the ocean, I guess. It's because capitalism is so bad, and socialism so good. ;-) Strangely enough, you don't see the reverse. I always wonder why the proponents of socialism don't go to countries like Venezuela and Cuba, the grand socialist paradises, if it's so good there?
I have a new, (private) landlord who just raised our rent by $100 yday and told me he's doing it to try to evict the "bad" tenants. He also offered me a lease with a clause that allows him to raise the rent whenever he chooses as long as there is notice. I checked our laws. Evidently, this isn't illegal in all but two states, so I'm glad that the NYT highlighted this problem!!
@@Leslie_Knope plus you'lll eventually have to deal with blackrock the company buying out of the spooked mom and pop landlords around the country. Look into blackrock they are the next ultimate evil too big to fail corp.
Why should rents be linked to inflation when housing prices and real estate taxes often outpace inflation and aren’t even included in how the gov calculates CPI?
I want to thank you SO MUCH (no screaming intended) for this! I fill out Gov. Hochul's form as requested, and I would like to see this move forward for my fellow New Yorkers, though I've long re-located out, because the rents were going way up. Fast forward now given COVID-19, and more people are fleeing New York for the same, but now rent-price-accelerated reason!
If you want a free and a capitalist country. Then the government should let people decide how much they want to charge for rent. If you don't like the price don't rent it why you have to force poeple to maintain a people that are not their children they are adults they shoud take responsability of their own lives. If you can not afford NYC move to another place.
I mean, it _is,_ but Americans have this warped idea that capitalism also _necessarily entails_ lasseiz-faire. It doesn’t. The most successful modern societies all have regulated, capitalist economies with strong social services and high progressive tax systems.
i am shocked there isn't anything in place already. i live in ontario canada and renters have protection from landlord rent increases here, i assumed this was standard everywhere. i hope this bill passes!
Great video reporting, Jeff Seals! Keep getting the word out about the bill! I left NYC- where I was born and raised in large part because rents have become so insanely high and unsustainable. It’s heart breaking to see working families, immigrants and really anyone who’s just living life (and not filthy rich) living in fear and insecurity because of the housing crisis…it needs to stop.
So move to another estate. If i don't have money to buy an iphone i will buy an android but i don't go to the apple store and steal one. There are other states where rent is cheaper you are not a demm child you have to be responsible for your self take responsibility of your life.
@@andressabio9440 Yeah we'll see how you feel when your own rent, mortgage or property tax starts skyrocketing. What, you don't think is a phenomenon that is unique to New York City, do you? No, we were just the proving ground for the strategy, the prototype. But the practice spread out of this city years ago, and has already gripped several US cities and plenty more in Canada, Europe, Australia and several countries in Asia. And you're a fool if you think it won't continue to spread if people like you let it.
The bill sounds like rent control. Which is fine. But it will lead to landlords requiring higher income thresholds for new tenants. I.e. you now must make. 5-6x the rent instead of 3x rent to even get an apartment. It will lock more people out of ever signing a lease. Supply and demand.
Even locking them into the current price, they're still much higher than almost any other city in the country. And this is not even locking them in place at all. Synching it to the national inflation rate is completely reasonable. The inflation rate is super high right now anyway. So the rent control aspect is not exactly gonna swing the advantage back to the renters, it just going to prevent an already major problem from spiraling past the tipping point. And as far as blocking evictions, it only applies to pretty specific and narrow circumstances - the tenant has to have been consistently on time with their rent, not been disruptive or a nuisance, and not broken the terms of lease agreement. Show me an example of an eviction that happened under those circumstances that *doesnt* look like an injustice against the tenant and maybe you'll be more convincing, because I am having a very hard time imagining one. But your point about the higher income requirements is fair enough. But it will only be an issue if there is legitimately more demand than supply. Because again, the rents are *already* outrageous here. The trend of buying property in Manhattan as an investment vehicle can only be taken so far, a city full of empty apartments and unused office space stops appreciating when nobody can afford to actually live there, and remote work has meant that the few people who can afford to live there no longer need to. And then all those expensive investment properties start dropping in value fast. It seems to me that anyone already invested in this market should also want to protect their investment by setting some reasonable limits to what other, more greedy investors may try to do that risks overheating the market and bursting the bubble.
@@Tony-hx2fj The city doesn't need any more "investors" in the real estate market here. We need to put actual residents into the many empty units that are already here. And if property developers don't recognize the millions of paying customers who are already here, packed in higher density per sq ft and already paying higher rents than anywhere else in the country, well then they are welcome to take their business to Ohio or Arkansas or Kentucky or any of the other states where they think there is more money to be made.
@@rdean150 I love how you refer to renter's as "paying customers" which is exactly what we are and I tell people this every chance I get! When the word "tenant" is used to refer to us, it's like we are second class citizens which we are NOT!!!
I just don't understand what the end-game is for the NYC landlord caste. NYC's population is shrinking. The normalization of remote work is meaning that a huge chunk of the affluent population doesn't even need to be in or near the downtown anymore. Between inadequate pay, climbing rent, and a general exodus from the city who are the legions of replacement renters that are going to sustain this market once you've priced out or evicted all the poors? It seems impossible that this doesn't end in a commercial real-estate collapse.
This is pointless. It’s nearly impossible to evict someone unless for non-payment of rent. Can’t even renovate and destabilize apts anymore so that doesn’t matter either.
You can not evict this people not even if they not paying rent. I have tenants they smoking weed all day sell drugs. Trash the whole house. Don'r recycle pure trash and i trying to evict them for 2 years impossible. I can not buy many essential things to my 2 year old because guess what i have to suppor this criminals remember is very important for them to buy there weed and get drugs all day so i have to spilt my little girls milk have of the money for her milk and the other half for this criminals alcohol and weed. This is creating criminals. I will never rent to anybody in my life. I will prefer to use the place as storage but i am out of this business i will sell the house before to rent this people again i became rentphobic.
These bill start off with good intentions but are so broad, hurt small property owners, with small margins. Who’s going to invest in a property where a tenant has more rights than the owner. It will lower property values, scare investors, and the continue the exodus out of New York City
Protection against retaliation? Heck yes! Preventing a owner from emptying a building to maximize profit? Heck no! A landlord shouldn't be forced to renew a lease.
it probably was at one time until tenants destroyed it. It cost big bucks to fix a torn up rental. If you have cheap rent, where is the money coming from to fix house. If house needs to be fixed beautiful, better for owner to sell so it will be the last time he will need to fix it. Tenants should be liable to repair damages they do as they are done or get evicted.
@@the_rubbish_bin ya now imagine if landlords get fed up with this and stop leasing. They could just airbnb the rooms short term or just start investing in hotels. Good luck finding a long term home to live in then.
@@the_rubbish_bin like woopty do we printed so much money for the stimulus bills so you could just not work. Oh inflation is the highest it’s ever been.Oh real state, cars, devices, microchips, etc have gone up crazy in price. Oh the markets have crashed down a crazy amount there is a fear of another 2008 financial crisis.
Small landlords are being forced to use the whole house as their primary resident. It's quite impossible to evict bad tenants, even the non-paying ones. What's the point of renting out your 2nd floor unit, if your tenant living in the same house will torture you to death and you still can't even evict them with all these ridiculous laws and court procedures. This is how you create the housing shortage and in term destroy affordable housing.
Superintendents beware that in you are in a rent stabilized apartment and you a pay a partial rent you cannot be removed from you apartment. You will be considered a tenant of a rent stabilized situation.
So no talk about how when repairs are needed tenants often don't let anyone in? Or how property taxes go up so we have to raise the rent? No. . . Really?
I'm literally being forced out of my home so my slum landlady can sell it to a developer. My roommates have been here 13 years and have been good tenants. There's all of stuff falling apart here that she refuses to fix. It's ridiculous.
This Bill if it passes is great for tenants but really bad for landlords. It protects bad tenants and makes it easier, than what it already is for tenants to take advantage of the system. Even without this bill it can take up to 10 months to get rid of a tenant, but that was pre pandemic. Now a landlord can go as long as a year and a half without any income. But not only that according to this bill you cannot get rid of a tenant once the lease expires. That is not considered a good cause. So tenants have automatic lease renewals. What if one day you wanted one to give one of your units to your children, you could very likely be denied that opportunity. This bill also has the potential to bring down property values. People often want to buy a property empty. But not even being able to get rid of them makes your property less attractive and therefore less valuable. I did a video on this Bill please watch share and subscribe.
This Bill if it passes is great for tenants but really bad for landlords. It protects bad tenants and makes it easier, than what it already is for tenants to take advantage of the system. Even without this bill it can take up to 10 months to get rid of a tenant, but that was pre pandemic. Now a landlord can go as long as a year and a half without any income. But not only that according to this bill you cannot get rid of a tenant once the lease expires. That is not considered a good cause. So tenants have automatic lease renewals. What if one day you wanted one to give one of your units to your children, you could very likely be denied that opportunity. This bill also has the potential to bring down property values. People often want to buy a property empty. But not even being able to get rid of them makes your property less attractive and therefore less valuable. So listen I get it, you can’t just throw people out on the streets without any warning, but you can’t say to a landlord that you can never, ever, ever, ever get rid of a tenant. I did a video on this Bill please watch share and subscribe.
I live in Boise, Idaho. I grew up all over the US, both coasts, in the middle and in England. I came to my dad's hometown after he and my mum retired. Boise and the entire Treasure Valley have changed so much. Boise is unrecognizable from the city it was 20 years ago and is in the midst of an affordable housing crisis. My rent went from $965 in 2015 to $1200 in 2017 to "The owner is selling you have 30 days to move." in July 2020. This was during the eviction moratorium. My husband had just died in March 2020 and I'm disabled so I had to request an additional 30 day accommodation) they charged a fee in addition to prorated rent. They didn't sell, they jacked the rent up to $1600 and had a new tenant moved in 3 days after I finished moving out. I was never late, no violations, my pets were on my lease. Now I live with my adult sons and my eldest son's girlfriend we pay $1906. It isn't just impossible for renters, locals have been priced out of home ownership. Houses are selling for hundreds of thousands above asking with cash buyers (often property management companies) building their rental inventory. My parents paid $289,000 for their 2800sq ft home in 2013, they have had unsolicited offers of over $700,000. The real-estate boom here has priced the workforce out of the city they work in. As a disabled widow, I am always afraid I will end up homeless when I don't have family around to help.
thats why people need to save, save save and buy their own property!! To get some control over you life, but that isnt even safe anymore as the government, like in California , is taxing people out of properties they have owned for years.
It’s policies like this that create insanely high rents. They always have unintended consequences. If landlords can’t rightfully evict, then they have to charge more to offset risk. Also, it makes only people with huge portfolios and large cash reserves able to be landlords, instead of small time investors. Also, a lease is binding so if people are under a lease they can’t be evicted for no reason. If a lease is up, then it’s not even called an eviction. It’s just the end of the lease and unless and new one is not negotiated then the agreement terminates.
It is rent control though - you said it yourself. Rent is tied to inflation and cannot be raised. That's rent control. If people cannot afford to live in New York, they should not be living in New York.
They were both here. There families are here. What are you talking about? They should just leave their homes? Do you know housing , having a home, has been a natural part of the human experience up until about the 70s. black and brown people who were born in urban areas can’t just move to the suburbs or that jobs are limited for average people without college degrees. The amount of privilege in this statement is like mind blowing to me . Completely unaware of the circumstances of working class people in urban areas
Watch Dave Ramsey until you have an emergency fund. I don't believe there aren't working class people elsewhere. All the Puerto ricans moved to Pennsylvania
Market price has to be free to change to match changing conditions; taxes went up, or more repairs than usual or even rising cost of materials for repairs. Being a landlord is a business, they pay business tax and self employment taxes. When a business cant make enough profit to support the owner, they need to either adjust cost, raise price or go out of business. A landlord has little control over costs, they are mandated by law in all states to perform maintainance and repairs. The only choices are to raise rent or sell the building and leave the landlord business. They won't be able to get a fair price because nobody wants to be a landlord when there is no profit in it. Your proposal essentially screws over one segment of the population to benefit another. Ban unfair practices, sure. Impose artificial caps on rent, not fair.
I support this so much, with the housing market so messed up, we have to make an effort to protect people that aren't doing anything wrong. If you're paying your rent on time, there should be no cause for people to get screwed over unless they're doing something wrong.
We are well on the way to becoming a very poor 4th world country! One of the reasons Florida has become unaffordable is the mostly vacant vacation homes. And the 4th house of the very rich! We can't keep this up. We are failing our people!
Require landlords to renew leases?? Seriously. So if I rent out my house, I can never stop get my house back? A lease has a beginning and an end, it is not a contract made in perpetuity. Imagine feeling like it’s your house just because you rented it for sixteen years. Surprise: you don’t own the house you are renting, that is why you are renting it. It’s basically giving squatters rights to every renter.
@@Leslie_Knope babe, first off being a landlord is not a job. Get a job, renting out is an investment that comes with risks. There's no such thing as hardworking landlords. Owning property is not work. Second, the clause (and the video!! which I assume you haven't watched?) specifically mentions that the percentage you can raise the rent will be tied to inflation, so directly proportional to costs of living. Third, again the clause (and the video!!) allows for eviction in case of landlords or their family members wanting to move back in.
It's specifically mentioned that one of the good causes is if the landlord or a family member wants to move in. Maybe watch the video? Or like read the bill?
@@Leslie_Knope If these hypothetical working regular people were good people they'd then know you can't make profit out of holding someone's safe existence hostage.
I like your plans here. I think you have to remember that a lot of people who own rental property is to make money. You have to start with someone who is ethical, moral & a decent human being. I do love the way you deal with these people. This concept should not only be in NYC but everywhere. Like N J has. Keep up the great work. Loved this!! The pandemic has made people crazy with rent hikes!! Thanks!
It never ceases to amaze me how landlords have literally never considered the idea that maybe a person shouldn't be able to make massive profits from holding a basic need (like shelter) hostage from human beings. Like, I wonder if they know there are other economic systems besides capitalism.
Lets see....rent (which means borrow or lease for a period of time) Owner (means you own it. You paid for it and it belongs to you) If there is no incentive for profit who will want to be a landlord? Costs of repairs and taxes go up all of the time. Who is going to cover those increases?
In other words, owners should have no rights to their own properties. Because an owner entered into a mutually agreed upon contractual agreement with another party, that had a limited term, they should be stuck in that agreement forever. This is idiocy. Why, because no one will ever want to invent in rental properties if this is the case. Rental properties will stop getting built. Existing ones will get neglected. Any units that can get built will be built for owner occupancy only (thing condos. In the long term the effect will be exactly the opposite of what the people espousing this garbage will be looking for. They'll end up with less rental housing of poorer quality.
the government is passing these laws , like california , who want everyone dependent on the government , no one responsible for themselves. Soon privately owned rentals will be a thing of the past . Landlords will sell rentals somehow if they cant make money and we will be come like russia with great big , rundown state owned complexes. that is the choice you are asking for if rentals become overly regulate
The problem with the clause that if they claim a family member will be moving in, they have that member move in for a month or two, leave and then up the rent and find new renters.
NYT comes across as very sycophantic in this case. I feel like if they changed their approach they could have appealed to the other side, but the host is purposely obnoxious.. The interview they did have was obviously deceptively edited.
This is a tricky situation. The part of the bill that states a landlord needs a good cause to evict someone is obviously a no brainer. BUT it's also unfair to landlords to say that they can increase there rent only compared to inflation. Yes, there should be limits to suddenly spiking the rent for the sole purpose of evicting someone but it's a free market and putting a restriction like that isn't very morale. There should probably be a delineation between a small time landlord and a corporation that rents out land.
So, Good Cause is telling landlords they cannot sell their properties if they're rented? Wanting to sell doesn't qualify as a good cause? Jeff Seal mentioned, "the landlord specifically decided to go into the business of housing people...the landlord is paying their mortgage...the landlord is building equity..." (9:31), but what is the point of building equity if you are barred from selling your property? Basically the landlord becomes trapped in that arrangement unless the renter stops paying rent or otherwise breaks the lease, or until the renter voluntarily chooses to leave the property (which may be never). No landlord will participate in those restrictions willingly. If that bill becomes law in NYC, landlords will sue to at least make a mass exodus from the real estate business (because as Mr. Seal said, it is a business) and invest their money elsewhere. Will gov't buy the properties at fair market value in order to house renters?
They can sell the property. They just can't evict tenants before they sell (which is a common practice currently). And god I wish there's be a mass exodus from real estate business, but as it has been shown in the rest of the world, that has never happened (reminds me of the whole the rich will leave new york if income taxes are raised argument which, yeah didn't happen cause obviously not).
It’s wild that people actually think that New York housing and rent prices simply reflect the “free market”. You should do a video about all the ways the state, individuals, and landlords manipulate the market and create artificial scarcity. It’s also wild that people think anyone can just leave their home and family and ancestral land. A home holds your history. For thousands of years, people don’t leave their land permanently and many still don’t. Generations would be brought up on the same land. The fact that people think it’s good and well to throw people out of their land and communities is a product of America’s colonial past. We actually think it’s greedy to want to keep your home, not greedy to take someone’s land for profit and industry. Ask Indigenous people what they think? Ask the indigenous people of Hawaii who can’t afford to live where their family has been for generations because of American tourists. I guess people don’t care if they are displacing and gentrifying whole communities, states, or countries, as long as rich ppl can get their city view. 🙄
I’ve never answered anything I’ve read but this moved me and touched my heart because it’s the same attitude that is selling ( actually stealing) Puerto Rico 🇵🇷 out from under its people and culture! Since being part of the Slave to New World African-Caribbean Diaspora we too have suffered from the force colonization from Spain then The United States. It is shameful and people who are trying to be intentional about putting their privilege aside to learn about our past and present struggles should really research our real history to understand how it repeats itself from colonialism to capitalism!
If you don’t want to live in someone else’s house you don’t have to. It’s pretty messed up though that you want to force someone to let you stay in their house.
Excellent video! People are paying in excess of 30k a year for average housing in NY, it's so hard to fathom. I live in a state where the median INCOME is 30ishK a year. It's morally and ethically way outside of the bounds of compassion and humanity. Hopefully New yorkers step up. Call your reps!!!
My tutor was NYker for 40 years and also well-educated (with all those PhD MIT, CMU, engineering, ivory Prof. entitlement), senior citizen rep retired elite and high executive guru in wall street. For some reasin he showed up in Shanghai and told me that the problem in HOUSING is not solvable in NY and that was before covid recession.
@@rismarksvej Wow! Was this pre or post Evergrande? Because if it's post, that makes it even more concerning. That's a heavy thought to put your head around. What does that say about the housing market in the US? Thanks for the comment. This pandemic has shaken the world to its core. #tonga
@@angle5520 Well...that was in 2014. The local market in Shanghai was believed to become overheat, banks poring more to make higher with inconsiderate young pledger. He told me that the NYkers never believed the bubble in Chicago would have propagated to NY many years ago and stayed skeptical until around 2008. But I had no idea about the states at that time. I was like "Ok🤔". But NYkers pay a great proportion in property management am I right?
@@Tresorthas No, the tenant doesn't own anything and shouldn't be entitled to forcing a new owner to rent. I live in a condo and I have no problem with the fact that the owner can sell or even show my unit to a prospective buyer. It was in my lease and I chose to agree to it. Having unessessary legality increases risk for landlords thus raises prices.
Paying other people’s energy happens A LOT! Always check your bill for inconsistencies. They don’t care who the money comes from as long as they get it
Not where I live
I love having a fixed rate lease with no leasing term limits and utilities, including internet, are simply included in the rent.
10:00 I love this "nobody is holding a gun to your head" argument, they use it for jobs, for renting property and such. But really it's just a trick because it works on the assumption that you do have favorable options to choose from in a given circumstance. If all your available options are the same (and all unfavorable), are you really choosing? Are you actually free and able to create a better situation for yourself? Or you are just running in a hamster wheel that only creates the illusion of choice and freedom?
Yah, nobody held a gun to your head but they DID hang :
* Potential houselessness
* The risk of not being able to pay for food, heat, electricity, etc
Which come with increased risks of death cause physical and mental harm.
So basically a prolonged death.
exactly. it's the 'you don't have to work a minimum wage job' argument. The alternative is often poverty and homelessness. These aren't exactly options.
BREAKING NEWS: No one is guaranteed a happy, healthy, or long life. If you don't like the hunger, fear, & suffering that comes with existence, don't be a psychopath and force it on someone else via procreation
Tony
1 second ago you are free. only thing rent control does is decrease housing stock so you are just kicking the stone a while. If these laws pass only ones renting property will be large investors who could afford to leave empty units, hog up subsidies etc. leaving small investors to afraid to invest.
problem is that wages are to low, need to better your options ,move to an area where your skills are better appreciated, or rents are low
Yes you do have favorable options stop using other people’s properties and start living by yourself. I love this “I can use whatever I want that other people built” argument it really shows how stupid socialism is
Man, this guy literally said “this is Capitalism, it’s the wealthy’s right to step on yours”
I’m a new yorker and it would be great if my last landlord didn’t raise rent $300 one year after lowering rent to get me in the door in the first place. There should definitely be a warning like “hey this is a deal and we’re artificially suppressing the price to get you in and we’re going to raise it past market price the next year so we can get someone else in”
Based landlord
You could definitely take this to court.
Just move how are you going to tell someone what to do with their stuff?
@@Leslie_Knope Yeah, a small increase is normal, not these $300+ increases. Everyone needs a roof over their head. Where is your sense of ethics?
@@the_rubbish_bin who are you to tell someone else that they should lower the price of a product or service they sell?
Real Estate goon “I got a theoretical for you, how about people with vacation homes”
Jeff’s Retort “You lost me at that”
🤣🤣
I believe it was “vacation rentals” not “vacation homes” - a big difference that the so-called comedian tried to make light of because he made a bad assumption, that the person with “vacation rentals” had a second “vacation home”.
@@stevebabiak6997 🤡
We have decided to NOT build a 30 unit apartment, and are selling our existing properties. The horrifying tenants, evil govt laws aren't worth it. We'll put our money in the stock market instead and not have ay holes forcing us to house people for free and pay all their utilities for years at a time
These laws are so antiquated. When I was an Ohioan renter I never so much as changed my own lightbulb in about 12 years and retaliation for such things never crossed my mind. I thought a) this was true for every renter, nationwide and b) New York was much more progressive than my corn and cow town.
Oh and I don't know why that lawyer thinks he can convince people *universal rent control* is a bad thing. That would be enough to make me move to new york and bring one of the biggest bonsai companies on the planet!
Totally unrelated but; Howd you get started with bonsai?
@@nocheapdopamine725 An addictive personality! Lol. My daughter bought me one out of nowhere. I really like it. Less than a year later my house was full of them. A friend asked "you ever think about selling some of these on eBay?" I honestly didn't have a whole lot of luck with that. Too much competition. But I live in the art district of my city. So during the summer festivals I'd set up a booth, entirely unlicensed. 20 months later I was opening my first shop. The rest is history.
@@theriffwriter2194 thats an awesome story lol, makes you think the american dream aint all bs. Wish u continued success stranger
Rich Liberals and Rich Conservatives have more things in common than their middle class counterparts.
It's honestly one of the biggest hypocrisies about "liberal" places that really shows you where the real divide is. A lot of liberal places are only socially liberal - so they won't lynch you for being non-white or LBGTQ+, but they're almost just as capitalist as Texas.
Washington state, for instance, has no state income tax - only a high sales tax. This is obviously due to the big tech lobby, and Amazon has shown how easily they'll flit around for even greater profit. Cracking down on this disgusting behavior can only happen at a federal level.
Slumlords in New York City must be making bank.
Imagine that: you can buy a vacation home upstate by renting out cockroach-filled apartments. Now that's the real American Dream.
also forget bout the most important element the free pet included : *rats*
You try it
we've had a tenant that hasn't paid rent for almost 1 year (in February) citing 'financial hardships' due to Covid. He's a real estate agent, selling homes left and right but understands the 'game' and how there's tenant protections. What do we do about these tenants?! We've been trying to evict but the courts are at a standstill.
Ah a smart one, youll hafta find some other way to weasel him outta there
Okay
thank you
I hope you never evict that tenant and he drains you as much as possible.
@@owenboyle7220
And you saying this means you are no different than a cruel greedy slumlord.
@@owenboyle7220
We are getting out of the rental property business because of evil psychos like yourself. The moratorium was the last straw. Our money will do way better in the stock market. Hopefully you'll wind up homeless or finding affordable housing 100 miles from your employer 😃👍
One thing I never understood is that renters feel if they rented a apt for a certain length of time , they magically transition into owning the apt , and have say of what happens with their RENTED apt.
The whole idea that rent stabilization only applies to certain apartments now makes no sense. Why do those specific people need protection and others don’t?
10:09 “no one held a gun to your head to make you sign a contract for a rent you couldn’t afford.”
But that’s the exact argument: tenants signed a contract for a rent they COULD afford, but the landlord is able to increase rent BEYOND what the tenants can afford by eviction and getting new tenants.
Landlords are becoming pure evil fascists! Greedy gouging criminals!
Totally agree. This is a free market. You can put any price to your property. No body is saying that the Monalisa painting is to expensive they should reduce the price so poor people can afford it if you don't like the price just don't buy it. I you can not afford New York Move to another estate. But those tenants they can not afford to pay the rent but they can afford to buy the iPhone and their nice car. They making the richer richer and affecting the middle class that has not million they take the money from middle class landlords to give to apple and amazon. This makes not Fu......Kn sense.
Exactly, they signed a contract for a specific period with a specific price. Once the period is over, you can renegotiate a new contract for a different period and price, what is wrong with that?
@@mladen89ftn contracts are rigged to be greedy and threatening to tenants! Psychological manipulation!
@@andressabio9440 propoganda and disinformation!
I’ve lived as a renter in Los Angeles for nearly 30 years-18 of them in my current apartment. I’m always shocked to hear that the basic tenants’ rights protections renters have where I live aren’t “the law of the land” in (at least) major urban centers across the country. But, then again, “wE LiVe iN a CaPiTaLiSt sOcIeTy” so…
He said that so ignorant I was appalled when he said you can’t afford the rent wtf
In 30 years you have not bought your house ? 😂
Why are you shocked to discover that in a free country, landlords enjoy basic property rights, including the right to decide with whom they wish to do business?
Just remember when you get the NYT or Time magazine or Vogue or watch mainstream media it is all the same conglomerate that pretty much runs everything and everything is filtered and controlled.
@@b.d.a.8719 Irrelevant answer. Just because you rent doesn't mean you own the place.
Bruh how do they expect to evict their current good tenants, remodel and make room for more “higher paying” tenants when almost everyone is broke? 😂😂😂 I’ve seen so many luxury high rises and condos here in my city with so many empty units because REGULAR PEOPLE CAN’T AFFORD THEM LMFAOOOOO. They’re doing themselves a disservice.
You are exactly right! Regular average people are just trying to survive and don't have a pile of extra cash just sitting around.
Get a second job
That lawyer is a perfect example of why people hate lawyers.
Well, yes...because he's completely ignoring the moral laws of interconnection of all of us for the civic legalities of licensed theft and financial brutality....
If a landlord is telling you a bill is bad, that's how you know it's a great bill and should support it fully.
Stupidity is why democracies fail.
@@criticalthinker8374 I agree. We should strive to make education more accessible for everyone.
@@LauncherSpiderMk7 Explain where price controls have been successful. All that this will do is make it so your apartment you live in now is the one you will die in. Also that more people will wind up homeless. YOu get this right? Like this is Basic Economics 101.
Thank you for doing this opinion piece. BTW, "Bill on Capitol Hill" was one of my favorite characters as a kid.
The housing industry is the worst creation of humanity.
Tying value to homes and property is pure evil. Unless the property is working, it's not valuable.
As a renting Brit, going through our own cost of living crisis currently, it shocks me how little protection these tenants in New York have!
You'll notice a trend everywhere in the US where money has all protections, yet people have little to none.
@@kolbyjackcorgi That is a scary world to live in.
@@kolbyjackcorgi "For the mercantile elite, by the mercantile elite"
Because these laws actually do more harm than good, and that’s why most economists don’t support this
This guy only covered half of the apartment-rental issue in New York City. He covered the part of "market-rate" apartments where landlords can raise the rent as high as they want to. 44% of the apartments in New York City ARE "rent-stabilized" and can only be raised a very small percentage each end of lease term, a percent set by the City Rent Guidelines Board. The law for rent stabilized apartment is they must offer me a lease renewal unless the landlord plans to move into my place himself. It's a better deal than this video shows. My next rent increase will only be a few percentage points as I'm NOT in a market-rate apartment.
Would tax increases be tied to inflation as well?
Lol wouldn’t that be nice. It’s funny how they don’t create bills to restrict their own power.
@@parli_poo11
Okay
thank you
No. But honestly if a landlord bleeds white from taxes, let them. No one held a gun to their head
What happens if NY raises the property tax?
Funny how there is no answers for this
I was thinking the same since that’s why rents goes up most of the time.
@@parli_poo11 that's why your landlord tells you your rent goes up.
@@BobFiercetube because the average person doesn't care, the landlord can eat it.
@@Tribute7373 if that's the case then why should landlords care if tenants have no where to go....move out so people who can afford it and more deserving can move in
It is the owner's property and once the lease is up, they are under no obligation to renew it at the end of the lease. Not a fan of the bill. This is like an automatic guarantee of a renewel of a lease. What really needs to change is we need to build more affordable housing and change FHA policies to support Condos, Co-Cops, and change the regulations involving mobile homes and allow for true home ownership in those areas. We also need to stop prioritizing/valuing single family houses and building them. There are way too many myths out there in there housing industry about community housing that the government needs to address through updates policies based on data.
We can't build because the projects get votes down because it will cause home values to plummit.
At time stamp 10:00, ``I say this is a Capitalist society'' is a response to `what do you say to the average New Yorker whose life will be made less precarious with the passage of the Good Cause Eviction bill?' . What that reply really means is `the business class elite are more deserving of dignity than ordinary working people'. It doesn't matter if wages do not track the increasing productivity of the working class. All that matters is money in their already fat pockets.
My tenants are highly educated and we landlords are ordinary people. Many of the landlords I know did not have money for college, were often too sick or taking care of sick family to finish high school and yet all scrapped together to buy just one studio apt in the south of brooklyn. And now their expenses are higher than their income and they themselves have to live without hot water, are suicidal etc. I am not sure you understand how many landlords are far from elite and are "ordinary" people.
They always use "capitalism" and "freedom" to justify their mistakes. Like as if people care abt which economic system The USA is using LOL. A perfect response to these dumb statements is just "Wanne know which countries are also capitalistic??? European ones, you don't see them forcing their people out because they want more money"
@CP When you apply for a loan to buy a house, they verify your income. Why?? Because being a landlord is not a job.
@@CP-ww1nj ... So sell the property? Man, if a business isn't working out - get out. They aren't losing their homes.
Sell it to who? As the laws changed, the demand dissapeared. All if us that I know and feel free to call me if you have a buyer have exoenses that exceed the rental income. That us taxes, upkeep such as painting every three years, repairing plumbing, etc. So we are all taking losses, can't sell them ( please bring us buyers) and must subsidize very wealthy renters.
I like your energy Jeff. I'm not from New York, I'm not even American, but I like that you're affecting change to improve people quality of life.
Such a law has existed here in Germany for decades. The problem is that landlords can abuse the good causes (esp. use for themsleves or their family) rather easily by pretending to live in the place for a year or so while they renovate it, then rent it out again for much more than before. The law must be adjusted to minimum term of use (five years or more) and/or oblige the landlord to offer the old renter to move back in by the original contract terms if he stops using the place himself.
Or better yet, abolish all such laws and restore to landlords their basic property rights.
@@jeffreywilheim5970 That's a very elitist thing to say that only a privileged person with little or no empathy for others can even think of. Laws need to protect the weak people in society.
@@brushemteeth9159 Laws need to protect the basic rights of all people in society, including the right to decide with whom to do business. There is no moral entitlement to live on someone else's property.
@@jeffreywilheim5970 There is a basic right (and need) to housing at an affordable rent. Every landlord is privileged and bears responsibility toward the actively working tenants who pay him rent while he can sit still and enjoy his passive income. If you don't want this responsibility, don't invest in housing.
@@brushemteeth9159 Empowering the "weak" people in society, leads to a weak society. Vagrants everywhere, is where stupid empathy leads.
If a landlord wants to sell their property then that should be their choice. This is insane.
Okay
thank you
The need for housing outweighs the desire for return on investment
@@Tribute7373
OK. So then why aren't these extremist left government politicians and housing Advocates and supposed volunteers create such housing for this urgently needed situation VS forcing housing providers /aka/ landlords who did not sign up to house con artists, bums, addicts, the homeless, criminals, etc. with money these landlords most likely don't even have?!?!
So build your own house. My Cousin in Maine did it with her 2 hands.
Whoa, that's nuts @@Tribute7373
Fundamentally the problem is large corporations (blackrock...) have gotten into the rental market. In some areas they control over 90% of the rental stock. This leads to rampant price increases, abusive terms and contracts etc. And of course, rent has far outpaced inflation and wages.
Put a bill like the above in for landlords that own over .... 5? properties. Protect the little guy. Limit the big guy.
I am a little guy only one property 2 familly house i live in one unit. Thet big corporation is not affected they have millions of dollars. The lazy criminal tenant that does not want to pay rent nothing happen. Me i don't pay my mortgage in 4 mounths i loose the hosue that it took me 4 years working 2 fu.......king jobs to buy just for the down payment but this lazy people that are spending their money on iphones and netflix now i am loosing my house because they don't want to pay. This system is creating criminals. So now when this people want an Iphone and don't have money they are going to steal it from the store when they want money and they don't have they will go to rob a bank.
@@andressabio9440 Right! So we protect the little guy. You get to throw the bums out. But Blackrock? Screw them, they can absorb the loss.
@@andressabio9440 Even locking them into the current price, rent in NYC is still much higher than almost any other city in the country. And this is not even locking them in place at all. Synching it to the national inflation rate is completely reasonable. The inflation rate is super high right now anyway. So the rent control aspect is not exactly gonna swing the advantage back to the renters, it just going to prevent an already major problem from spiraling past the tipping point.
And as far as blocking evictions, it only applies to pretty specific and narrow circumstances - the tenant has to have been consistently on time with their rent, not been disruptive or a nuisance, and not broken the terms of lease agreement. Show me an example of an eviction that happened under those circumstances that *doesnt* look like an injustice against the tenant and maybe you'll be more convincing, because I am having a very hard time imagining one.
But your point about the higher income requirements is fair enough. But it will only be an issue if there is legitimately more demand than supply. Because again, the rents are *already* outrageous here.
The trend of buying property in Manhattan as an investment vehicle can only be taken so far, a city full of empty apartments and unused office space stops appreciating when nobody can afford to actually live there, and remote work has meant that the few people who can afford to live there no longer need to. And then all those expensive investment properties start dropping in value fast. It seems to me that anyone already invested in this market should also want to protect their investment by setting some reasonable limits to what other, more greedy investors may try to do that risks overheating the market and bursting the bubble.
I know people who own empty building in NYC and they go unsold because the losses can be written off. I'm talking 100M dollar buildings.
Wow, that man had a really toxic way of looking at renters in round 4. I don't think most people get into a lease intentionally trying to get a place that's beyond their means but it just ends up that way as rent is increased. Which is exactly one of the purposes of this bill, to prevent unfair price hikes. This is why I view capitalism as the serpent that eats itself, it's not sustainable and will only implode in on itself because exponential growth can't be maintained.
Edit: Forgot to add, loved the video. That scene of you and the bill in the window reflection, really inspires me to try that in one of my future videos for my other channel.
It's funny because it's a game that is played.
And yet, even with the price hike they eventually find a new person/family to rent to... its almost as if there is a supply and demand of some sort....
There is no "unfair" renting price: the renting price is determined by the free market. I'm always mind-boggled by these leftish claims. It's not THAT difficult to see: a property, service or good is worth what one wants to pay for it. That's the TRUE worth of it. There is NO other judge of what something is "really" worth, but that which people think it's worth. Also, worth to note: all historical hard data points to the fact that the populace as a whole is always better of with a capitalistic system, then a socialist/communist o,ne. Capitalism Is actually the biggest contributor to get people out of poverty, NOT socialism/communism.
I always laugh at the "it's not sustainable", while capitalism is still around after 200 years, and communism has long since decayed within 80 years. Or even mere socialism, like in Venezuela, even in 20 years. Ah yes, the vile capitalism... that's why people from socialist Cuba risk en masse their life to get into dirty capitalistic USA in shabby boats crossing the ocean, I guess. It's because capitalism is so bad, and socialism so good. ;-) Strangely enough, you don't see the reverse. I always wonder why the proponents of socialism don't go to countries like Venezuela and Cuba, the grand socialist paradises, if it's so good there?
no, its that ppl dont understand their own finances
Capitalism isn’t synonymous with exponential economic growth…
I have a new, (private) landlord who just raised our rent by $100 yday and told me he's doing it to try to evict the "bad" tenants. He also offered me a lease with a clause that allows him to raise the rent whenever he chooses as long as there is notice. I checked our laws. Evidently, this isn't illegal in all but two states, so I'm glad that the NYT highlighted this problem!!
Illegal lease terms aren't enforceable, so your complaints are irrelevant.
Good luck being a landlord during the next decade lol
@@Leslie_Knope plus you'lll eventually have to deal with blackrock the company buying out of the spooked mom and pop landlords around the country. Look into blackrock they are the next ultimate evil too big to fail corp.
Why should rents be linked to inflation when housing prices and real estate taxes often outpace inflation and aren’t even included in how the gov calculates CPI?
Exactly
Are any taxes included in CPI?
I want to thank you SO MUCH (no screaming intended) for this! I fill out Gov. Hochul's form as requested, and I would like to see this move forward for my fellow New Yorkers, though I've long re-located out, because the rents were going way up. Fast forward now given COVID-19, and more people are fleeing New York for the same, but now rent-price-accelerated reason!
Hello, how are you doing?
@@danielharvey3659 Doing fine, Daniel. Thank you! Again, I hope all goes well with the issue of affordable rents, and thank you for all you do!
Good to know you are doing fine😊
Where are you chatting from?
"This is a capitalist society"
Wow. Just wow.
Based
?
If you want a free and a capitalist country. Then the government should let people decide how much they want to charge for rent. If you don't like the price don't rent it why you have to force poeple to maintain a people that are not their children they are adults they shoud take responsability of their own lives. If you can not afford NYC move to another place.
I mean, it _is,_ but Americans have this warped idea that capitalism also _necessarily entails_ lasseiz-faire. It doesn’t. The most successful modern societies all have regulated, capitalist economies with strong social services and high progressive tax systems.
Even the term Landlord sounds feudalistic
Because it is.
But that term is used throughout the country.
Or your are simply a whiner
I am sure you and your commie friends would prefer Comrade Controlled Domiciles
@@bigbopper1921 Nah we'd prefer housing that's affordable
i am shocked there isn't anything in place already. i live in ontario canada and renters have protection from landlord rent increases here, i assumed this was standard everywhere. i hope this bill passes!
Haha, never assume any good thing about Canada is standard everywhere
Great video reporting, Jeff Seals! Keep getting the word out about the bill! I left NYC- where I was born and raised in large part because rents have become so insanely high and unsustainable. It’s heart breaking to see working families, immigrants and really anyone who’s just living life (and not filthy rich) living in fear and insecurity because of the housing crisis…it needs to stop.
Now we’re talking NYT. No more identity politics wars, focus on the stuff that makes our lives better.
This will be why affordable housing will continue to be impossible in nyc ... landlords will just start prices higher than usual
I would too.
So move to another estate. If i don't have money to buy an iphone i will buy an android but i don't go to the apple store and steal one. There are other states where rent is cheaper you are not a demm child you have to be responsible for your self take responsibility of your life.
@@andressabio9440 Imagine comparing lawfully renting a residence to theft.
@@andressabio9440 Yeah we'll see how you feel when your own rent, mortgage or property tax starts skyrocketing. What, you don't think is a phenomenon that is unique to New York City, do you? No, we were just the proving ground for the strategy, the prototype. But the practice spread out of this city years ago, and has already gripped several US cities and plenty more in Canada, Europe, Australia and several countries in Asia. And you're a fool if you think it won't continue to spread if people like you let it.
@@rdean150 someone failed economics
I moved to Nashville from NYC in 2018 and bought a home, my mortgage is cheaper than my rent was in New York. Best decision I’ve ever made.
First you gentrified Brooklyn, now the price is right and you can evict the gentrifiers, then sell the properties to investment firms.
Biaggi is my congresswoman, and she introduced this bill, she'll get my vote again.
Keep this guy on the show!
The bill sounds like rent control. Which is fine. But it will lead to landlords requiring higher income thresholds for new tenants. I.e. you now must make. 5-6x the rent instead of 3x rent to even get an apartment. It will lock more people out of ever signing a lease. Supply and demand.
It will also limit supply in the market making prices gonup
Even locking them into the current price, they're still much higher than almost any other city in the country. And this is not even locking them in place at all. Synching it to the national inflation rate is completely reasonable. The inflation rate is super high right now anyway. So the rent control aspect is not exactly gonna swing the advantage back to the renters, it just going to prevent an already major problem from spiraling past the tipping point.
And as far as blocking evictions, it only applies to pretty specific and narrow circumstances - the tenant has to have been consistently on time with their rent, not been disruptive or a nuisance, and not broken the terms of lease agreement. Show me an example of an eviction that happened under those circumstances that *doesnt* look like an injustice against the tenant and maybe you'll be more convincing, because I am having a very hard time imagining one.
But your point about the higher income requirements is fair enough. But it will only be an issue if there is legitimately more demand than supply. Because again, the rents are *already* outrageous here.
The trend of buying property in Manhattan as an investment vehicle can only be taken so far, a city full of empty apartments and unused office space stops appreciating when nobody can afford to actually live there, and remote work has meant that the few people who can afford to live there no longer need to. And then all those expensive investment properties start dropping in value fast. It seems to me that anyone already invested in this market should also want to protect their investment by setting some reasonable limits to what other, more greedy investors may try to do that risks overheating the market and bursting the bubble.
the outcome of these laws is that there will be fewer and fewer investors building or converting to rentals, causing a bigger mess.
@@Tony-hx2fj The city doesn't need any more "investors" in the real estate market here. We need to put actual residents into the many empty units that are already here. And if property developers don't recognize the millions of paying customers who are already here, packed in higher density per sq ft and already paying higher rents than anywhere else in the country, well then they are welcome to take their business to Ohio or Arkansas or Kentucky or any of the other states where they think there is more money to be made.
@@rdean150 I love how you refer to renter's as "paying customers" which is exactly what we are and I tell people this every chance I get! When the word "tenant" is used to refer to us, it's like we are second class citizens which we are NOT!!!
"Nobody held a gun to your head" Is the prospect of homelessness not a ‘gun’?
Just greedy. Hope the bill passes.
I just don't understand what the end-game is for the NYC landlord caste. NYC's population is shrinking. The normalization of remote work is meaning that a huge chunk of the affluent population doesn't even need to be in or near the downtown anymore. Between inadequate pay, climbing rent, and a general exodus from the city who are the legions of replacement renters that are going to sustain this market once you've priced out or evicted all the poors? It seems impossible that this doesn't end in a commercial real-estate collapse.
This is pointless. It’s nearly impossible to evict someone unless for non-payment of rent. Can’t even renovate and destabilize apts anymore so that doesn’t matter either.
You can not evict this people not even if they not paying rent. I have tenants they smoking weed all day sell drugs. Trash the whole house. Don'r recycle pure trash and i trying to evict them for 2 years impossible. I can not buy many essential things to my 2 year old because guess what i have to suppor this criminals remember is very important for them to buy there weed and get drugs all day so i have to spilt my little girls milk have of the money for her milk and the other half for this criminals alcohol and weed. This is creating criminals. I will never rent to anybody in my life. I will prefer to use the place as storage but i am out of this business i will sell the house before to rent this people again i became rentphobic.
This is the funniest and silliest NYTimes vid out there, and it’s wonderful. More of this energy pls
It’s a parody of Schoolhouse Rock: How a bill becomes a law. It’s an infomercial released nearly 50 years ago
No. I don't mind this video but pls NYT don't listen to UA-cam comments for advice.
You are extremely sad
PTSD from Civics in H.S.
These bill start off with good intentions but are so broad, hurt small property owners, with small margins. Who’s going to invest in a property where a tenant has more rights than the owner. It will lower property values, scare investors, and the continue the exodus out of New York City
We don't need investors. If property values fall, the government can afford to develop these areas.
There are ways to protect the tenants without rent caps and auto renewals. What about 1 year leases with no early termination.
Almost no landlords offer those
Protection against retaliation? Heck yes!
Preventing a owner from emptying a building to maximize profit? Heck no! A landlord shouldn't be forced to renew a lease.
Agreed
Also the bill would prevent landlords from being able to sell their property if someone is still renting in it. Ridiculous
Imagine if you could not repair or sell your car, but had to rent it out to an Uber driver as long as that pays the monthly rent.
Why don't we just regulate everything? Why just rent? Just cap everything at 3% increase per year, Nobody, no industry, nothing... can go higher.
In Arkansas, landlords don't even have to make the rental house livable.
why should they when so many live like pigs
@@Tony-hx2fj well, aren't you you a special little ray of hate.
it probably was at one time until tenants destroyed it. It cost big bucks to fix a torn up rental. If you have cheap rent, where is the money coming from to fix house. If house needs to be fixed beautiful, better for owner to sell so it will be the last time he will need to fix it. Tenants should be liable to repair damages they do as they are done or get evicted.
Looks like there will be loopholes that landlords can still weasel their ways through.
No one is forcing you to live in someone else’s home
@@hamzaimam9650 Perhaps you prefer them to live on the street then. Renting is the only other option for a lot of people.
@@the_rubbish_bin ya now imagine if landlords get fed up with this and stop leasing. They could just airbnb the rooms short term or just start investing in hotels. Good luck finding a long term home to live in then.
You guys always see things so narrowly and short term it’s crazy
@@the_rubbish_bin like woopty do we printed so much money for the stimulus bills so you could just not work. Oh inflation is the highest it’s ever been.Oh real state, cars, devices, microchips, etc have gone up crazy in price. Oh the markets have crashed down a crazy amount there is a fear of another 2008 financial crisis.
Small landlords are being forced to use the whole house as their primary resident. It's quite impossible to evict bad tenants, even the non-paying ones. What's the point of renting out your 2nd floor unit, if your tenant living in the same house will torture you to death and you still can't even evict them with all these ridiculous laws and court procedures. This is how you create the housing shortage and in term destroy affordable housing.
Superintendents beware that
in you are in a rent stabilized
apartment and you a pay a
partial rent you cannot be
removed from you apartment.
You will be considered a
tenant of a rent stabilized
situation.
I hope tenants come through.
We need this bill in Florida.
So no talk about how when repairs are needed tenants often don't let anyone in? Or how property taxes go up so we have to raise the rent? No. . . Really?
Poor baby, I guess the fed will have to bail you out...... again, just like 2008....
I'm cheering this bill on from idaho
Oh no, those poor landlords can't evicted those tenants anymore..........
I'm literally being forced out of my home so my slum landlady can sell it to a developer. My roommates have been here 13 years and have been good tenants. There's all of stuff falling apart here that she refuses to fix. It's ridiculous.
That "two things" dialogue could be out of an Aaron Sorkin movie
What's stopping landlords from saying, "I am gon move in with my family," and then moving in with their family, and then selling it?
This Bill if it passes is great for tenants but really bad for landlords. It protects bad tenants and makes it easier, than what it already is for tenants to take advantage of the system. Even without this bill it can take up to 10 months to get rid of a tenant, but that was pre pandemic. Now a landlord can go as long as a year and a half without any income. But not only that according to this bill you cannot get rid of a tenant once the lease expires. That is not considered a good cause. So tenants have automatic lease renewals. What if one day you wanted one to give one of your units to your children, you could very likely be denied that opportunity. This bill also has the potential to bring down property values. People often want to buy a property empty. But not even being able to get rid of them makes your property less attractive and therefore less valuable. I did a video on this Bill please watch share and subscribe.
This Bill if it passes is great for tenants but really bad for landlords. It protects bad tenants and makes it easier, than what it already is for tenants to take advantage of the system. Even without this bill it can take up to 10 months to get rid of a tenant, but that was pre pandemic. Now a landlord can go as long as a year and a half without any income. But not only that according to this bill you cannot get rid of a tenant once the lease expires. That is not considered a good cause. So tenants have automatic lease renewals. What if one day you wanted one to give one of your units to your children, you could very likely be denied that opportunity. This bill also has the potential to bring down property values. People often want to buy a property empty. But not even being able to get rid of them makes your property less attractive and therefore less valuable. So listen I get it, you can’t just throw people out on the streets without any warning, but you can’t say to a landlord that you can never, ever, ever, ever get rid of a tenant. I did a video on this Bill please watch share and subscribe.
I live in Boise, Idaho. I grew up all over the US, both coasts, in the middle and in England. I came to my dad's hometown after he and my mum retired. Boise and the entire Treasure Valley have changed so much. Boise is unrecognizable from the city it was 20 years ago and is in the midst of an affordable housing crisis. My rent went from $965 in 2015 to $1200 in 2017 to "The owner is selling you have 30 days to move." in July 2020. This was during the eviction moratorium. My husband had just died in March 2020 and I'm disabled so I had to request an additional 30 day accommodation) they charged a fee in addition to prorated rent. They didn't sell, they jacked the rent up to $1600 and had a new tenant moved in 3 days after I finished moving out. I was never late, no violations, my pets were on my lease. Now I live with my adult sons and my eldest son's girlfriend we pay $1906. It isn't just impossible for renters, locals have been priced out of home ownership. Houses are selling for hundreds of thousands above asking with cash buyers (often property management companies) building their rental inventory. My parents paid $289,000 for their 2800sq ft home in 2013, they have had unsolicited offers of over $700,000.
The real-estate boom here has priced the workforce out of the city they work in. As a disabled widow, I am always afraid I will end up homeless when I don't have family around to help.
thats why people need to save, save save and buy their own property!! To get some control over you life, but that isnt even safe anymore as the government, like in California , is taxing people out of properties they have owned for years.
Abolish landlords
It’s policies like this that create insanely high rents. They always have unintended consequences. If landlords can’t rightfully evict, then they have to charge more to offset risk. Also, it makes only people with huge portfolios and large cash reserves able to be landlords, instead of small time investors. Also, a lease is binding so if people are under a lease they can’t be evicted for no reason. If a lease is up, then it’s not even called an eviction. It’s just the end of the lease and unless and new one is not negotiated then the agreement terminates.
Love the lawyer has amongst her awards on her vanity wall...her NYC marathon medals 👏🏽👏🏽👏🏽
It is rent control though - you said it yourself. Rent is tied to inflation and cannot be raised. That's rent control. If people cannot afford to live in New York, they should not be living in New York.
They were both here. There families are here. What are you talking about? They should just leave their homes? Do you know housing , having a home, has been a natural part of the human experience up until about the 70s. black and brown people who were born in urban areas can’t just move to the suburbs or that jobs are limited for average people without college degrees. The amount of privilege in this statement is like mind blowing to me . Completely unaware of the circumstances of working class people in urban areas
@@naas294 the amount of entitlement in your statement is mind blowing to me. You don't own new york just because you were born there.
Move where with what money?
Watch Dave Ramsey until you have an emergency fund. I don't believe there aren't working class people elsewhere. All the Puerto ricans moved to Pennsylvania
Market price has to be free to change to match changing conditions; taxes went up, or more repairs than usual or even rising cost of materials for repairs. Being a landlord is a business, they pay business tax and self employment taxes. When a business cant make enough profit to support the owner, they need to either adjust cost, raise price or go out of business. A landlord has little control over costs, they are mandated by law in all states to perform maintainance and repairs. The only choices are to raise rent or sell the building and leave the landlord business. They won't be able to get a fair price because nobody wants to be a landlord when there is no profit in it. Your proposal essentially screws over one segment of the population to benefit another. Ban unfair practices, sure. Impose artificial caps on rent, not fair.
I support this so much, with the housing market so messed up, we have to make an effort to protect people that aren't doing anything wrong. If you're paying your rent on time, there should be no cause for people to get screwed over unless they're doing something wrong.
Brilliant!
We are well on the way to becoming a very poor 4th world country! One of the reasons Florida has become unaffordable is the mostly vacant vacation homes. And the 4th house of the very rich! We can't keep this up. We are failing our people!
biden
Best video I have seen. Great work, Jeff! Thankful I live in California where renters are protected and hope this bill passes for New Yorkers too!
Require landlords to renew leases?? Seriously. So if I rent out my house, I can never stop get my house back? A lease has a beginning and an end, it is not a contract made in perpetuity. Imagine feeling like it’s your house just because you rented it for sixteen years. Surprise: you don’t own the house you are renting, that is why you are renting it. It’s basically giving squatters rights to every renter.
Rent stabilized apartments already have said clauses.
@@Leslie_Knope babe, first off being a landlord is not a job. Get a job, renting out is an investment that comes with risks. There's no such thing as hardworking landlords. Owning property is not work. Second, the clause (and the video!! which I assume you haven't watched?) specifically mentions that the percentage you can raise the rent will be tied to inflation, so directly proportional to costs of living. Third, again the clause (and the video!!) allows for eviction in case of landlords or their family members wanting to move back in.
It's specifically mentioned that one of the good causes is if the landlord or a family member wants to move in. Maybe watch the video? Or like read the bill?
@@Leslie_Knope If these hypothetical working regular people were good people they'd then know you can't make profit out of holding someone's safe existence hostage.
why would anyone pay rent for 16 years in one place other than laziness, wanting the landlord to take all risks, do all maintenence.
This is a great video, super informative and engaging!! Thank you for this!
I am always for anything that’s a landlord’s worst nightmare lmao
I like your plans here. I think you have to remember that a lot of people who own rental property is to make money. You have to start with someone who is ethical, moral & a decent human being. I do love the way you deal with these people. This concept should not only be in NYC but everywhere. Like N J has. Keep up the great work. Loved this!! The pandemic has made people crazy with rent hikes!! Thanks!
I’m just a bill. Only a bill! And I’m living on capital hill!
Landlords are some of the worst people I swear.
It never ceases to amaze me how landlords have literally never considered the idea that maybe a person shouldn't be able to make massive profits from holding a basic need (like shelter) hostage from human beings.
Like, I wonder if they know there are other economic systems besides capitalism.
Who's making massive profits? Almost no one. I'm kicking out money from savings to fix the furnace and now the air conditioning.
People sell bread at a profit don't they ?
@@caropreso911 People also sell healthcare for a profit, that doesn't make it ethical.
Lets see....rent (which means borrow or lease for a period of time) Owner (means you own it. You paid for it and it belongs to you) If there is no incentive for profit who will want to be a landlord? Costs of repairs and taxes go up all of the time. Who is going to cover those increases?
Okay
thank you
In other words, owners should have no rights to their own properties. Because an owner entered into a mutually agreed upon contractual agreement with another party, that had a limited term, they should be stuck in that agreement forever. This is idiocy. Why, because no one will ever want to invent in rental properties if this is the case. Rental properties will stop getting built. Existing ones will get neglected. Any units that can get built will be built for owner occupancy only (thing condos. In the long term the effect will be exactly the opposite of what the people espousing this garbage will be looking for. They'll end up with less rental housing of poorer quality.
the government is passing these laws , like california , who want everyone dependent on the government , no one responsible for themselves. Soon privately owned rentals will be a thing of the past . Landlords will sell rentals somehow if they cant make money and we will be come like russia with great big , rundown state owned complexes. that is the choice you are asking for if rentals become overly regulate
The problem with the clause that if they claim a family member will be moving in, they have that member move in for a month or two, leave and then up the rent and find new renters.
Who decides what a good tenant is? This is doomed to fail. Another asinine proposal by New York.
NYT comes across as very sycophantic in this case. I feel like if they changed their approach they could have appealed to the other side, but the host is purposely obnoxious.. The interview they did have was obviously deceptively edited.
This is a tricky situation. The part of the bill that states a landlord needs a good cause to evict someone is obviously a no brainer.
BUT it's also unfair to landlords to say that they can increase there rent only compared to inflation. Yes, there should be limits to suddenly spiking the rent for the sole purpose of evicting someone but it's a free market and putting a restriction like that isn't very morale. There should probably be a delineation between a small time landlord and a corporation that rents out land.
So, Good Cause is telling landlords they cannot sell their properties if they're rented? Wanting to sell doesn't qualify as a good cause? Jeff Seal mentioned, "the landlord specifically decided to go into the business of housing people...the landlord is paying their mortgage...the landlord is building equity..." (9:31), but what is the point of building equity if you are barred from selling your property? Basically the landlord becomes trapped in that arrangement unless the renter stops paying rent or otherwise breaks the lease, or until the renter voluntarily chooses to leave the property (which may be never). No landlord will participate in those restrictions willingly. If that bill becomes law in NYC, landlords will sue to at least make a mass exodus from the real estate business (because as Mr. Seal said, it is a business) and invest their money elsewhere. Will gov't buy the properties at fair market value in order to house renters?
They can sell the property. They just can't evict tenants before they sell (which is a common practice currently). And god I wish there's be a mass exodus from real estate business, but as it has been shown in the rest of the world, that has never happened (reminds me of the whole the rich will leave new york if income taxes are raised argument which, yeah didn't happen cause obviously not).
Real estate is a villain’s game.
It’s wild that people actually think that New York housing and rent prices simply reflect the “free market”. You should do a video about all the ways the state, individuals, and landlords manipulate the market and create artificial scarcity. It’s also wild that people think anyone can just leave their home and family and ancestral land. A home holds your history. For thousands of years, people don’t leave their land permanently and many still don’t. Generations would be brought up on the same land. The fact that people think it’s good and well to throw people out of their land and communities is a product of America’s colonial past. We actually think it’s greedy to want to keep your home, not greedy to take someone’s land for profit and industry. Ask Indigenous people what they think? Ask the indigenous people of Hawaii who can’t afford to live where their family has been for generations because of American tourists. I guess people don’t care if they are displacing and gentrifying whole communities, states, or countries, as long as rich ppl can get their city view. 🙄
I’ve never answered anything I’ve read but this moved me and touched my heart because it’s the same attitude that is selling ( actually stealing) Puerto Rico 🇵🇷 out from under its people and culture! Since being part of the Slave to New World African-Caribbean Diaspora we too have suffered from the force
colonization from Spain then The United States. It is shameful and people who are trying to be intentional about putting their privilege aside to learn about our past and present struggles should really research our real history to understand how it repeats itself from colonialism to capitalism!
If you don’t want to live in someone else’s house you don’t have to. It’s pretty messed up though that you want to force someone to let you stay in their house.
Imagine if someone came to your house and didn’t leave
HEYYYY! Stop that! You’re hurting the richy-rich peoplesies fee-fees!
@@liesdamnlies3372 oh ya first im not rich at all lol i just think it's very childish to expect someone else to provide for you for free.
Thank you Julia Salazar ! Unfortunately not my representative but good to know some senator are still looking out for the people. Not just the rich
California a setting the standard for everyone baby!!!
Maybe the landlords should get a break on their property tax if they’re are imposed price controls.
I love this wow I feel awful that they ca. retaliate for repairs it’s terrifying
Julia Salazar is my representative! Thank you!
Great post.
This guy is Ethan Klein and Adam Ruins Everything at the same time. Best of both worlds. I hope I can get a sense of humor and wit like this.
Excellent video! People are paying in excess of 30k a year for average housing in NY, it's so hard to fathom. I live in a state where the median INCOME is 30ishK a year. It's morally and ethically way outside of the bounds of compassion and humanity. Hopefully New yorkers step up. Call your reps!!!
My tutor was NYker for 40 years and also well-educated (with all those PhD MIT, CMU, engineering, ivory Prof. entitlement), senior citizen rep retired elite and high executive guru in wall street. For some reasin he showed up in Shanghai and told me that the problem in HOUSING is not solvable in NY and that was before covid recession.
@@rismarksvej Wow! Was this pre or post Evergrande? Because if it's post, that makes it even more concerning. That's a heavy thought to put your head around. What does that say about the housing market in the US? Thanks for the comment. This pandemic has shaken the world to its core. #tonga
@@angle5520 Well...that was in 2014. The local market in Shanghai was believed to become overheat, banks poring more to make higher with inconsiderate young pledger. He told me that the NYkers never believed the bubble in Chicago would have propagated to NY many years ago and stayed skeptical until around 2008. But I had no idea about the states at that time. I was like "Ok🤔".
But NYkers pay a great proportion in property management am I right?
People don't read their leases. Property owners should be entitled to sell their property if they want.
They can, but the sale must include the buyer taking over the lease as is.
@@Tresorthas No, the tenant doesn't own anything and shouldn't be entitled to forcing a new owner to rent. I live in a condo and I have no problem with the fact that the owner can sell or even show my unit to a prospective buyer. It was in my lease and I chose to agree to it. Having unessessary legality increases risk for landlords thus raises prices.
I hope this bill crashes New York real estate market. No one wants government getting involved with their personal belongings