NYC Rent Increases - - Rent Stabilization and Rent Control.

[Procrustes Stretched]

Or the Stock Market. Or Crypto. Or any other investment. Investment includes the possibility of loss.

The middle property, the one I bought right before the 2008 Crash permanently cured me of voting for Republicans, was underwater after 2009 and didn't really recover until 2015 or so. Worse, the people who snapped up those foreclosed units rented them out to Section 8 people, which brought down the value of the property.

I was actually kind of glad when an investment company offered us a buyout.

My points are that people assume real estate always goes up, ignoring/ignorant of the cycles, ups and downs. People assume owning properties is a safe bet, safer than other things. People assume their home is an investment strategy, yet use it as a bank to take out money and live beyond their means.

My point is we rarely hear people brag about how much they lost, how much it cost (in time, labor, dollars) to keep a property up. I am not anti-home ownership, but I am critical of the nonsense most people spout after they take the leap into owning property.

 

[Procrustes Stretched]

I've owned a single story four plex and 3 other rent houses since the crash under Reagan's debt bubble, and have had zero problems keeping them up and occupied. It's a matter of being selective and keeping your renter vested in keeping the property up, is all. Most just try to gouge the crap out of every renter and then sniveling about the results. No wonder cities get rent control laws and vandalized properties.

I don't join any pity parties for real estate gamblers; too many genuine property managers out there with few problems to believe the cry babies and snivelers. Quit attending those seminars for idiots on how you're going to get rich in real estate with no money down! scams. Managing properties is not free money for deadbeats who just want to cash checks and sit on their asses. that's what stock markets are for, stupid gamblers.

Wow!

 

[TheGreatSatan]

If you're an American doing business in NYC, you better get the fuck out now before everything you have gets taken.