There is another pandemic-influenced disaster looming in New York. Proving that no good deed ever goes unpunished, Governor Andrew Cuomo’s protection of tenants from evictions is bankrupting landlords.
As renters struggle, thousands in New York City have not paid full rent for months. Others have simply pulled up stakes and fled the pandemic as well as New York’s rising crime and plunging quality of life.
At the vanguard of the renters’ exodus are young families leaving the Big Apple for the suburbs. The pandemic has motivated many parents with young children to seek cheaper rents and more spacious living quarters.
The pandemic has led many New York City residents to uproot their lives in search of more spacious living quarters or cheaper rent. City living with its crowded streets and packed crowds have given way to cabin fever and quarantine lockdowns.
So, landlords, with no income, are facing the country’s highest property bills. Their next nightmare could be tax-lien sales, where the city sells unpaid tax bills to collection agencies. Those predatory third parties can charge as much as 18 percent interest. Waves of foreclosures could follow as the New York state moratorium on tax-lien sales has expired. That puts both small landlords as well as homeowners in jeopardy.
The housing-market disaster of the 1980s could be repeated. Two years into Mayor Ed Koch’s term, New York landlords were unable to do the basic maintenance to keep their property in decent shape for new tenants. Abandoned and decaying buildings spread urban blight and the city had to take possession of vacant buildings, removing them from tax rolls and compounding the problem.
New York’s Rent Stabilization President made this dire prediction: “If the City Council doesn’t end tax liens…(the) housing crisis of the 1980s will pale in comparison.” No one will be spared. New York’s “property-tax base, the city’s top revenue producer, will come crumbling down.”
Landlords have tried to work with and make deals with stressed tenants. Many have offered concessions by reducing, forgoing and offering rent concessions. One SPONY.org survey showed that more relief for landlords is needed.
The most telling information from the survey was about “the struggles (landlords) are facing as small business leaders.” Again, in a system weighted against landlords, the liberal New York City Council passed city legislation limiting “without remedy, the ability for owners to request rental payments or pursue debts.”
Another telling comment was “I can’t get tenants to commit to lease renewals because they claim I can’t kick them out.”
Then there was this poignant complaint: “There is no support for small landlords who have to pay their mortgage and all the bills. I am concerned that if tenants stop paying, then I will lose my home which has all my retirement savings invested in it.”
One spokesperson for the New York State Homes & Community Renewal blamed the federal government.
“New York State, facing a $62 billion, four-year revenue loss due entirely to the pandemic, has been calling on the federal government to deliver funding to offset these losses and despite promises, they’ve done nothing. New Yorkers need the federal government to act responsibly and deliver the resources we need to support them.”
As the blame game continues and Nancy Pelosi’s political posturing over a new relief package persists, neither renters, landlords, nor strapped tax-and-spend New York politicians should expect another bailout anytime soon.
ANYTHING A DEMO-COMMIE GOVERNOR OR SENATOR OR REPRESENTATIVE SAYS IS WORTHLESS, AFTER THE LAST FOUR YEARS OF LYING CHEATING AND NOW THE ILLEGAL VOTING INCLUDING ILLEGAL ALIEN VOTING OF 12-14 MILLION MOTOR VOTER VOTING WHY WOULD ANY INTELLIGENT AMERICAN CITIZEN LISTEN !!! THE NEW COMMUNIST PARTY SHOULD GO AWAY AND LIVE IN CHINA WHERE ALL GOOD ANTI-AMERICAN COMMUNISTS SHOULD LIVE AND TAKE THE HOLLYWOOD SCUM WITH YOU !!! YOU DON’T DESERVE TO LIVE IN MY COUNTRY, YOU HAVE DESTROYED A ONCE GOOD PARTY OF JOHN F KENNEDY WHO IS TURNING OVER IN HIS GRAVE WATCHING THE MUSLIMS, COMMUNISTS, SOCIALISTS HAND IN HAND DESTROYING OUR CONSTITUTION, BILL OF RIGHTS AND BORDERS ALL AT THE EXPENSE OF THE AMERICAN PEOPLE !!! YES KARL MARX IS PROUD OF YOU WORTHLESS BASTARDS AND PUTIN AND CHINA ARE WAITING WITH OPEN ARMS FOR A BIDEN WIN !!! THANKS TO THE IGNORANT WORTHLESS UNINFORMED DEMO-RAT VOTER !! VIETNAM VET 67-68
P.S. BIDEN SAYS HE WON’T RAISE YOUR TAXES ON THE POOR AND MIDDLE CLASS !!!!!! REALLY, WHAT DO YOU THINK WILL HAPPEN WHEN HE VETO’S THE TRUMP TAX BREAK, WHAT WILL HAPPEN WHEN HE STOPS FRACKING AND WE START IMPORTING OIL AGAIN, AT LEAST $1 TO $3 DOLLARS A GALLON INCREASE, WHAT WILL HAPPEN WHEN TIRES FOR YOU CAR GO UP BECAUSE EACH TIRE MADE CONSUMES 7 GALLONS OF OIL TO MAKE THEM, WHAT HAPPENS WHEN THERE IS NO GAS TO FILL YOUR CAR YOU WILL NEED AN ELECTRIC CAR, I CAN’T AFFORD ONE, HOW ABOUT THE 6,000 PRODUCTS THAT ARE MADE WITH OIL, WHAT HAPPENS TO YOUR UTILITY BILL WHEN ELECTRICITY PRODUCED BY WIND AT A NEGATIVE COST OF ELECTRICITY VS PRODUCTION AND SOLAR WHICH PRODUCES ELECTRICITY AT A 85%TO 95% LOSS OF SUN POWER AND ONLY WORKS WHEN THE SUN IS BRIGHT AND AT THE RIGHT ANGLE. WHAT HAPPENS WHEN BIDEN, KAMALLA, PELOSI, SCHUMER OPEN THE BORDERS AND LET ANYONE AND EVERYONE INTO OUR COUNTRY AND WE HAVE TO PAY FOR THEM , TAXES , BIDEN ALREADY SAID HE WOULD RAISE TAXES $4 TRILLION AQND HE SAYS IT WON’T AFFECT YOU, ARE YOU KIDDING !!! I HAVE THE GOLDEN GATE BRIDGE I COULD SELL YOU CHEAP !!!!! HOW IS BIDEN GOING TO PAY FOR ALL THIS FREE EVERYTHING AND DEBT FORGIVENESS , FREE IS TOO EXPENSIVE AND BIDEN HAVE THE WORLDS LARGEST CRACK PIPE HE HAS BEEN PUFFING ON IN HIS DUNGEON !! YOU IGNORANT DEMO-RAT VOTERS JUST GAVE AWAY THE ONCE GREATEST COUNTRY IN THE WORLD AND WE WILL BE A THIRD WORLD COUNTRY IN TWO YEARS WITH KAMALA AS PRESIDENT AND PELOSI AS VICE PRESIDENT BECAUSE BIDEN IS SENILE AND WILL BE DECLARED UNFIT TO BE PRESIDENT AND REMOVED !!!
WE ARE SCREWED !! It is difficult to believe that so many people could be so stupid..But then, when I look at the casino’s ,the MANY lotteries that rely on the “get rich quick” crowd, it becomes ever more clear that there is a fool born every second ! Too bad they had to be born here ! I know people who have actually gone broke gambling.. Well, I am (thankfully) 80 years (young) and may not have to deal with communism for very long..But, I would like to be around long enough to see the looks on all those morons who thought Trump was “bad”.. I can hardly wait !
Well said! I, too, am a senior (75 years young) and have had to “pull up myself by boot straps” on occasion – Never getting anything for FREE ! THERE IS NO FREE LUNCH ! Someone has to pay for it !
I am astonished that so many people want socialism/communism. Why don’t they move to a country where this is already in place instead of turning the United States into a country that people are fleeing to! If socialism is so great, why are people fleeing those countries?
I am 73 and have lived most of my life. I fear for my children and grandchildren. They are teaching true history anymore so they don’t know history and are doomed to repeat it. May God have mercy on them.
Next are the banks. The money doesn’t grow on trees!
Biden will die, along with the other rats! Their blood will be running in the streets!
Here is the 100% truth. Thank you for your comments.
Totally agree!
You are about to re-up.
One Sir, thank you for your service during another horrible time for this country.
Two, you are 100% correct.
These commie asses are the same greedy dictators we fought in nam under a guise of freedom for viets & now we let the dem commies destroy the U.S.A. internally with their deceitful crimes of treason without any justice !
We can’t just blame the Democrats. Republicans are standing by watching it happen.
Amen First thank you for your service. God bless. My husband was a Viet Nam Vet also 31 1/2 yrs in the Navy attacked to the Marines as a Corpsman. Everything you have written is 100 % true. I believe these people especially the younger ones are being indoctrinated in school. As far as congress all of it they need term limits. As the majority thinks only of themselves not our COUNTRY AMERICA nor the American People. God help us.
THEY ARE GETTING WHAT THEY DESERVE! THEY ARE WORSE THAN UNINFORMED, THEY ARE BRAIN DEAD INDOCTRINATED FU**ING MORONS. WHEN YOU VOTE FOR A DEMORAT YOU GET COCKROACHES. ANYBODY THAT BELIEVES THIS SO CALLED MSM NEWS IS NEWS IS A COMPLETE FUC**NG IDIOT AND THEY SHOULD PACK UP AND MOVE TO CHINA OR VENEZUELA.
I couldn’t have said it better
U are freaking right but these stupid Democraps don’t even know what biden has in store for them.
I just threw a Demoncrap outa my house. He saying. Republicans don’t ever want to give up power. He said then called me stupid republican
I said dude do you want harris running this country. Wow he didn’t answer. Yeah shut him up. Loser
Couldn’t have said it better myself.
Let NYC go BANKRUPT . . . They SQUANDERED it and the GOT what they DESERVED. One WARY And SUSPICIOUS Patriot. Team Trump and his allies 2020.
Amen along with there democratic Mayor & Governor who refused help from President Trump instead put China virus people in nursing homes & how many seniors died ? then the two of them blamed it on President Trump then the topper he gets some hero award ??? spare me. God help us.. Please
The plan is of course for privately-owned housing to collapse the way small business has and many big businesses will. The state will then “have to” take over the properties and be the landlord of last resort. Voila, we will all be living in decrepit Victory Mansions and falling-down women’s hostels like Winston and Julia. Another part of the plandemic scheme is unrestricted police and health access to make sure we are all wearing masks, face shields, goggles, gloves and dog cones (and dragging us away if we are noncompliant or if they do not like our statements on social media), and this will be simpler if all housing is public housing. The way to stop this and to revive the economy is to blow the Chicom-globalist scheme sky-high, and to oust by any means necessary the illegitimate puppet regime that is about to be installed to administer it. Biden delendum est! #NotMyPresident. #StolenElection. #F-ckBiden. #Resist.
LORD helps us all, the END of AMERICA will be here soon enough!
Who? Do you think will, come in and buy up all the tax liens. cHINA! They will own NYC!
this is well planned isn’t” it.
Our surprene court, wears dunce caps! Afraid of riots!
What comes next ,is far worse.
China already owns a great deal of Manhattan.
Among the big tech outfits, google who has my Gmail email, blocked more than 100 of my emails to friends
because I wrote favorable to Donald.
That is why Trump is demanding that Section 230 that protects these giant communications be revoked or drastically changed. Until this one thing happens we will all be in Facebook Jail forever!!
First off, don’t put anything in any email about anything period. Soon enough the tech industry will be giving all your info yo the govt. Second we survived 8 years of the OBAMARAMA, so we can survive this, but we must ensure somehow someway that never again will an election be stolen by these a**hats.
I said years ago that our country is just like when you flush a toilet and the water goes round and around right before it goes down…we are at the point where we are in the swirl; ready to fall. Only divine intervention can save us now. Trump can only do but so much.
Survivors of this will live in a FEMA camp, until it worsens into a concentration camp. Only the Tory/Vichy/DEMONocrat will survive.
What you describe is “circling the drain”. What is needed is divine intervention like the Passover of biblical times….except this time the angel visits Capitol Hill where heathens like Pelosi, Feinstein, AOC, Omar, Pressley, Tlaib, Schiff and others in Congress incur the Lord’s wrath permanently…
How many of those poor Landlords voted for Bill de Blasio. He won with 66.5% of the New York City vote. Looks like the people got what they voted for.
You get the government you vote for
Only if the vote is fair. I think votes have been manipulated since Clinton’s first term. Dole was not toeing the line, so they allowed GW the vote, he had to take all the blame for the WTC and everything else, which set up Obama, a no name “political advisor” from Chicago.
It plays like a bad movie, but it happened.
We are being manipulated by forces outside our country.
Anyone going to D.C. for Jan 6th? Rally in support of President Trump and support his efforts in this past election that wasn’t.
The courts have declined to hear provable cases, Supreme Court has two men that wanted to hear the Texas case; Justice Thomas and Justice Alito. What happened to the three President Trump nominated and stood behind through hell as with Kavanaugh? Shameful and disgusting! I agree with the elder citizens comments as I am one also in my 80’s and live out west. As for the comment we get the government we voted for is BS!!! No sane person would vote for higher taxes, higher energy prices, less safety in our country and for a corrupt incompetent fool such as Biden.
Patriot for a free America.
THIS RAG CENSORED ME JUST NOW
TRUTH HURTS AND IF THE TWO LYING CROOKS GET IN THE WHITEHOUSE
Look out cos lying joe already said
Things will never back to normal
Sounds really dire
Thank God he didn’t win.
THESE NY PEOPLE VOTED FOR CUOMO AND DEBLASIO. THEY ARE GETTING WHAT THEY DESERVE. HOW LONG DO THEY HAVE TO BE WHIPPED BEFORE THEY DEVELOP SOME BACKBONE AND GET RID OF BOTH THOSE DEMOCRAT CRIMINALS? THE BEATINGS WILL CONTINUE UNTIL THEY FINALLY FIGURE IT OUT!
First of all, the ones who left town (NYC) had other housing and could afford those ridiculous rents for the ‘privilege” of living in the heart of NYC. Those people aren’t the real New Yorkers. Okay, we have the slum landlords who do nothing to upkeep their properties because they want market-value rent at the high end versus a fair rent, but on the other hand, we have people who have money coming in and paid nothing in rent for most of 2020 since February/March. That tells me that they were already living paycheck to paycheck prior to the pandemic decline in their income. The rent dilemma is a two-sided sword, with many problems. The rich will survive while those who may have been above the poverty level prior to the pandemic will be struggling for a long time. I see no help coming from Congress.
If you have never heard of the dumbing down of America, Look all around You. Look at what is being taught in educational institutions, and who is teaching. Americans used to think for themselves, watch what is going on, and “QUESTION” it. Now, most are like SHEEP. All the problems in this country have, for the most part, been downplayed or wosre- “IGNORED”. Gone is the Party of F. D. R. and visionary J. F. K. It has been changed to the DEMOCRATIC SOCIALIST COMMUNIST party. One for all, and ALL FOR US.
You think times are bad now, Check after this man’s first 100 days. Be prepared for assaults on the Constitution, Bill of Rights, and Constitutional Amendments, which they have attacked since some courageous Patriots have banded together to stop them. America will soon become The United Socialist State of America!
As a veteran of VN, I saw many things but nothing as bad as we have right here in My Beloved America~ I promised to protect America and have kept my word~ I shall continue to protect my country forever and I can see that there will be another Civil War here soon~ I Love this country, abide by her Laws, but I shall NOT give up my Rights according to The Constitution ! Hope we will all be on the same side~ May God Bless us all in these trying times~
We can’t just blame the Democrats. Republicans are standing by watching it happen.
I can’t believe that people are actually talking about Socialism/Communism.. The problems these people don’t have a clue.
The republicans have been fighting against this for a long time. The democrats are the ones pushing it.
This socialist/communist creep has been going on for over 50 years. We finally put our children in private schools and luckily as adults they are all Republicans.
Florida Realtors Assn. Just announced the 2020 Salesperson of the Year Award is a tie: the co winners are…… Andrew Cuomo & Bill Di Blasio.
Yes, those who voted for Biden are going to get what they deserve but the reality is that they are going to drag the rest of us into the sewer with them