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Rent Freeze vs Reality: NYC Landlords Face Financial Collapse
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If you own property or follow the NYC housing market, this analysis clarifies the disconnect between policy decisions and operational realities The None of Your Business Podcast The Nations #___ Podcast
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What do you tell Mondani? He's sitting
here. What's the conversation like? As a
landlord in the Bronx.
>> Well, does it make sense, Mondani, that
you're doing rent freeze, that our
increases are zero,
>> [music]
>> and insurance went up, I think last year
by 20%? The real estate taxes went up, I
think by 12%. Water, sewage, everything
else just goes up regular
increases that go up 2 3% a year. How is
this going to work?
>> What do you think he's going to respond?
>> I think he's going to respond,
I'm sorry. I feel bad.
Because I think the end of the day they
don't care if New York City owns all
this real estate. I think half the plan
is, you know, for the city to
gain back a lot of the real estate.
>> Wow.
>> But you can't run it as a business. Look
how many people have gone out of
business the last few years.