NYC rents set to rise as Mamdani eyes property tax hike

[Lockback]

I'm excited to see NYC residents get what they voted for.

However, leftists are easily duped and not good at learning historical lessons, obviously; so I think there's a strong possibility they get burned badly by this commie, then decide to elect another commie because he'll tell them that what Mamdani did wasn't "real communism".

They're dumb and easily swayed. They don't understand history at all.

 

[Hafar1014]

The landlords of rental units CANNOT pass on the increases

This is by design and metastasized since 2019.

All in an effort to turn apartments into Public housing

This leads to a collapse in the real estate market leaving local banks holding 1 billion in mortgages. This creates a cascade of defaults bank failures because you cant raise taxes and at the same time block rent increases. Real estate values will drop maybe thats the plan. Then the city buys the buildings at low cost or takes over the mortgages.

 

[Mashmont]

The warmth of collectivism is about to bring new pain to NYC renters (many of whom probably voted for Mamdani ).

Can one of the lefties here help me with this? I don't understand commie logic: does he think he can raise property taxes, and landlords will just take it in the ass, instead of passing it on to their tenants? Is he really that dumb? Or does he just know his supporters are that dumb, and won't ask the question?

Is it both?

Mamdani property tax hike would lead to rent increases, experts warn​

Mamdani property tax hike would lead to rent increases, experts warn

Mayor Zohran Mamdani’s proposed 9.5% property tax hike amounts to a declaration of “war” against homeowners — and would inevitably lead to higher rents for New Yorkers, housing in…

nypost.com

Economics and the history of failure of socialism should be required curriculum for all students to keep them from repeating mistakes of the past. We know by now there is ONE way to run an economy. The conservative way. The way that works. This should be common teaching and standard practice just like the mathematical and physical principles of building bridges.

 

[mudwhistle]

Promises made, and promises kept.

 

[22lcidw]

CA has been doing this for well over 20 years and there is no sign that the voters there are getting pissed at all the empty promises and corruption going on, but the bigger businesses are.

Which goes to prove that humans will squash the golden goose when things get good enough to a certain point putting real problems in the background while following their self-proclaim godlike ways of utopian existence.

 

[Conservative from Georgia]

^^^Another uneducated commie who thinks the landlords will be good comrades and just eat the rent increases.

Also, if you think he won't raise property taxes, we can add historical illiteracy to your long list of intellectual disabilities.

Another liar who says the proposal was passed into law.

 

[Meister]

It’s just a proposal. Therefore, you lied about announcing that the rent is “set to rise”

Like the true commie you are, you have to take everything out of context
to make your point.
You left out:

"as Mamdani eyes property tax hike"​

Idiot

 

[Dorian Mode]

Economics and the history of failure of socialism should be required curriculum for all students to keep them from repeating mistakes of the past. We know by now there is ONE way to run an economy. The conservative way. The way that works. This should be common teaching and standard practice just like the mathematical and physical principles of building bridges.

The dumocrap party owns the education system. Math, physics and economics are nowhere near as important as Gender Theory and Anti-Americanism.

 

[marvin martian]

Another liar who says the proposal was passed into law.

^^^Too dumb to understand what "eyes property tax hike" means.

 

[CrusaderFrank]

This leads to a collapse in the real estate market leaving local banks holding 1 billion in mortgages. This creates a cascade of defaults bank failures because you cant raise taxes and at the same time block rent increases. Real estate values will drop maybe thats the plan. Then the city buys the buildings at low cost or takes over the mortgages.

Property insurance is around $2,000 per unit per year as well

 

[Hector12]

Mamdani wants to make New York City affordable. He also wants to welcome illegal immigrants to New York City. It costs a lot to live in New York City because lots of people want to live there. Like many people on each side of the political spectrum, he does not make connections. He thinks of a good goal here and a good goal there, and he does not recognize that the goals are incompatible.

Conservatives are the same way when they say we should cut taxes and balance the budget.

 

[toobfreak]

Conservatives are the same way when they say we should cut taxes and balance the budget.

Not really. Lower taxation rates usually increases economic activity because people have more of their money to spend, which alone generates more tax dollars.

 

[markef]

The landlords of rental units CANNOT pass on the increases

This is by design and metastasized since 2019.

All in an effort to turn apartments into Public housing

Mamdani came on as a great friend of good people but instead has proven to be a great friend of the wicked.

 

[Hector12]

Not really. Lower taxation rates usually increases economic activity because people have more of their money to spend, which alone generates more tax dollars.

Reagan's tax cuts tripled the national debt. This is who benefitted:

 

[markef]

Mamdani wants to make New York City affordable. He also wants to welcome illegal immigrants to New York City. It costs a lot to live in New York City because lots of people want to live there. Like many people on each side of the political spectrum, he does not make connections. He thinks of a good goal here and a good goal there, and he does not recognize that the goals are incompatible.

Conservatives are the same way when they say we should cut taxes and balance the budget.

Mamdani wants to spend money he does not have and will have a hard time getting for things that do more harm than good.

 

[Hector12]

Not really. Lower taxation rates usually increases economic activity because people have more of their money to spend, which alone generates more tax dollars.

Comparing the economy under GOP and Dem presidents​

by Eric Black02/03/2021
The last 14 presidents divide neatly into seven Democrats and seven Republicans...

Trump’s economy ranks as the worst of any president since Franklin D. Roosevelt replaced Hoover 88 years ago in 1932...

Overall, and this is pretty staggering, the annual GDP growth rate under Democratic presidents was almost exactly twice as high as under Republicans. (The actual numbers for the seven Dems combined was 4.6 percent GDP growth per year, compared to 2.4 percent for Repubs.)

Comparing the economy under GOP and Dem presidents - MinnPost

"The economy has grown significantly faster under Democratic presidents than Republican ones," Times columnist David Leonhardt writes.

www.minnpost.com

 

[Hector12]

Not really. Lower taxation rates usually increases economic activity because people have more of their money to spend, which alone generates more tax dollars.

AI Overview



Analyses of U.S. economic performance from 1949–2009 generally indicate higher GDP growth and lower unemployment under Democratic presidents, while Republican administrations have often faced higher inflation and increased inequality.

 

[toobfreak]

Comparing the economy under GOP and Dem presidents​

If GOP economies suffer, it is probably because they have democrats on the other side mobbing police, protecting criminals and aliens, judges blocking every order, while shutting down the government every few months.

 

[markef]

Comparing the economy under GOP and Dem presidents​

by Eric Black02/03/2021
The last 14 presidents divide neatly into seven Democrats and seven Republicans...

Trump’s economy ranks as the worst of any president since Franklin D. Roosevelt replaced Hoover 88 years ago in 1932...

Overall, and this is pretty staggering, the annual GDP growth rate under Democratic presidents was almost exactly twice as high as under Republicans. (The actual numbers for the seven Dems combined was 4.6 percent GDP growth per year, compared to 2.4 percent for Repubs.)

Comparing the economy under GOP and Dem presidents - MinnPost

"The economy has grown significantly faster under Democratic presidents than Republican ones," Times columnist David Leonhardt writes.

www.minnpost.com

What do most working Americans care about GDP data when they struggle to pay their bills. The cost of living under Trump in 2020 was among the lowest in history while just two year later under Biden it reached near record levels never before experience in US history.

 

[Hector12]

What do most working Americans care about GDP data when they struggle to pay their bills. The cost of living under Trump in 2020 was among the lowest in history while just two year later under Biden it reached near record levels never before experience in US history.

Document your assertions.

What is happening to the price of gasoline?