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slobertgood t1_ism3u1y wrote

I think the majority of people are more concerned about maintaining housing than they are about sticking it to "the man".

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Bluehorsesho3 OP t1_ismcv4y wrote

Interesting to know that your response comes from a bias in real estate. You said so yourself landlords in NYC are completely unethical. Just how disruptive would even a 1 month city-wide rent strike be?

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slobertgood t1_ismzjwo wrote

I'd definitely be curious to know what that would entail, and while I would agree about the lack of ethics that exist, I don't believe in to be a blanket on every landlord. I know many owners who treat the tenants with the respect they deserve who don't have a large enough portfolio to be anything but devastated if people just stopped paying. Most business in the city would be in dire straits if people decided to stop paying based on a point blank assessment of the ethics of their industry.

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Bluehorsesho3 OP t1_isn0zdx wrote

It could prove how over leveraged landlords are if 1 month devastates them. That would prove to be a highlight of their own risk assets and miscalculations. If speculative prices are dictated by risk/reward then it would prove landlords are carrying much higher risk than they are revealing to their tenants and to the rental market overall.

In fact it would reveal they are dumping all the risk and speculative price conditions on to their tenants rather themselves.

It’s about time we stress test these speculative prices instead of assuming the landlords and realtors know the true value of the units they are renting. Especially if the renters are carrying most of the speculative risk.

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Bluehorsesho3 OP t1_ism3ypr wrote

Yeah but that’s because they are desperate, what would happen if the landlords were desperate for payment?

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slobertgood t1_ism42t8 wrote

The smaller ones would sell to larger landlords who could afford to take the hit and eventually you'll be standing around with an eviction notice while somebody else moves into your place.

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Bluehorsesho3 OP t1_ism4als wrote

That is a really long process. You are discounting all the fees both sides would have to eat to handle large quantities of the rent strike. You are also assuming there are enough suckers to overpay for overvalued rental prices. I’d say it would be interesting to let the evictions play out and just put pressure back on the landlord.

I mean realistically why bother caring about an overpriced rental apartment that you don’t even own. Let them handle all the risk and liability.

Rental units are “risk assets” after all.

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slobertgood t1_ism73t7 wrote

Yea and when you do eventually get evicted, what's your next course of action? Most people don't have some clutch back-up housing option that would allow them to take this kind of incredible risk. I totally understand and agree with the idea that the housing market in the city does not benefit a great deal of the people here, but this doesn't really do anything to solve the long term issue which in my opinion, is a lack of housing relative to the number of people here and their income levels.

If you don't want that apartment rest assured there are 1-3 post-grads with parents willing to assist the rent, and they aren't going to bemoan the evil landlords.

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Bluehorsesho3 OP t1_ism8ghd wrote

Next course of action is you have plenty of money now for all those months you saved money by not paying rent in the first place. Have a plan B setup with the money you save.

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