Live From Mamdanistan

T. A. Gardner said:
The ones I expect to occur are:

A housing crisis as landlords bail, government run housing turns into a crime ridden disaster and economic trainwreck. People revolt as Mamdani forces the use of public transit. If he pushes and gets massive new tax hikes to try and keep the budget under control, the major payers start to flee or find ways to avoid the taxes. The state balks at grandiose plans that cost billions and won't buy in. Crime skyrockets as the police are handcuffed by a criminal friendly government.

If Mamdani pushes his government run, and subsidized, grocery stores expect 'food deserts' to appear throughout NYC.

The whole thing will simply be disastrous and the harder Mamdani pushes Left, the worse things will get.
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He is not going to turn existing grocery stores into government run. It's a fantasy intended to scare people.
 
AProudLefty said:
NYC is an American city under the Constitution.

Working Capitalism.
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How will that work? Mamdani is already jumping into a bankruptcy case by a real estate holding company with 92 properties in NYC. Let's say, the city government takes these over for rent controlled leasing out of the bankruptcy. Let's say the average apartment needs some repairs to bring it up to code.

How much will the city have to spend to do those repairs?

I could see the cost being 5 to 10 times what a private owner would pay.

As an example, let's say one of these buildings, built in say, the 50's, needs serious electrical repairs. Now, a private owner would do the minimum to make the system reliable as installed with few or no upgrades. I'd expect the city to want to bring the building up to current code. The difference would be the private owner spending thousands of dollars to do the minimum fixes while the city would spend tens of thousands to literally rewire the entire building.

The city would also have to forego rent for months while the building was torn apart by contractors to install the new wiring, plumbing, etc. In the end, the project could easily hit millions. The problem now becomes the government is saddled with an up-to-code building with rent control that will never make a profit.

I can see other owners turning their building(s) into condos and selling off the previous apartments as owned condos with a building HOA in place to maintain things. That eliminates rent control while the owner still collects the HOA fees for maintenance. Mamdani gets kicked to the curb in that scenario.
 
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