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Thread: Tenants Would Get Priority To Buy Their Landlord's Building Under New Bill

  1. #1

    Tenants Would Get Priority To Buy Their Landlord's Building Under New Bill

    Tenants Would Get Priority To Buy Their Landlord's Building Under New Bill

    A Brooklyn state senator is drafting a bill that would give tenants priority to buy their landlord's building should the property go up for sale.

    State Senator Zellnor Myrie's "Tenant Opportunity to Purchase Act" would give tenants priority to buy their landlord's building and turn it into a cooperative if their landlord puts the property up for sale. In another scenario, tenants could also work with a non-profit that would buy and manage the building, according to his office. The policy is a piece of the Housing Justice for All Coalition's platform.

    "As someone who grew up in rent-stabilized apartments and someone that still lives in a rent-stabilized apartment, the dream of ownership has really been elusive for people like myself, my mom, and many of the folks that I represent in Central Brooklyn," Myrie told Gothamist. The bill would allow renters to buy the building and manage it as a limited equity cooperative, a structure that allows low- to moderate-income New Yorkers to become shareholders and co-own the building with their neighbors. There are restrictions on how much the co-op units could be sold for, aimed to ensure that the apartments are permanently affordable.
    ...
    More: https://gothamist.com/news/tenants-w...under-new-bill
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  3. #2
    Permanent price fixing and elimination of free market price discovery. What could possibly go wrong?
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
    They are what they hate.” - B4L


    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  4. #3
    If all you can afford is a subsidized rent home, what are the odds you could come up with the money-even if all your neighbors agree- to purchase the entire building?

  5. #4
    Quote Originally Posted by Zippyjuan View Post
    If all you can afford is a subsidized rent home, what are the odds you could come up with the money-even if all your neighbors agree- to purchase the entire building?
    It depends upon which hair-brained scheme the commies are proposing. No doubt it is a combination of not paying the current owner full potential market price, and additional government money, or “non-profit money”, or a combination the two. Mayne a “non-profit” that is funded by government.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
    They are what they hate.” - B4L


    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  6. #5
    Quote Originally Posted by Brian4Liberty View Post
    It depends upon which hair-brained scheme the commies are proposing. No doubt it is a combination of not paying the current owner full potential market price, and additional government money, or “non-profit money”, or a combination the two. Mayne a “non-profit” that is funded by government.
    You forgot debt.
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  7. #6
    Quote Originally Posted by dannno View Post
    You forgot debt.
    Of course. Some kind of sub-prime government backed loan would be in the mix.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
    They are what they hate.” - B4L


    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  8. #7
    Quote Originally Posted by Brian4Liberty View Post
    It depends upon which hair-brained scheme the commies are proposing. No doubt it is a combination of not paying the current owner full potential market price, and additional government money, or “non-profit money”, or a combination the two. Mayne a “non-profit” that is funded by government.
    Quote Originally Posted by Brian4Liberty View Post
    Of course. Some kind of sub-prime government backed loan would be in the mix.
    Which prompts the question: "sub-prime government-backed loans for whom?"

    (Can you say "cronyism," boys and girls? How about "moral hazard?" There! I knew you could ...)


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    • "[W]ar is always begun in the interest of the few, and at the expense of the many."
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    • "There are two principles that can never be reconciled - Liberty and Constraint."
      - Harmonies of Political Economy - Book One (p. 447)

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  9. #8
    God I hate these $#@!ing people.



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  11. #9
    Quote Originally Posted by Zippyjuan View Post
    If all you can afford is a subsidized rent home, what are the odds you could come up with the money-even if all your neighbors agree- to purchase the entire building?
    Probably not if they have to pay market value but I bet they have a plan for that .



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