Congresswoman Alexandria Ocasio-Cortez (WSJ/Realtor.com)The Wall Street Journal is reporting (as reposted on Realtor.com) that so-called progressive Democratic lawmakers across the nation are proposing tighter controls and/or new taxes on landlords and property owners.  The article discusses recent efforts in Illinois, New York (city & state) and Oregon as well as celebrity Congresswoman Alexandria Ocasio-Cortez, who said she wants to “stand up to the luxury developer lobby” during her campaign last Fall.  In New York state, the attitude of one assemblyman seems to sum up their mission quite succinctly;  “Landlords have had their run of the playground, and we’re taking it back,.”  However….
“Members of the real-estate community have started pushing back. If all the proposed changes were to pass, ‘it would be a serious financial blow to the industry,’ said John Banks, president of the trade group Real Estate Board of New York….He argued that making it impossible for landlords to raise rents on some units would make it harder for them to pay for repairs and renovations needed to maintain rent-stabilized apartments.”
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