Conversation

Genevieve 👁
@shamechamp
i’m kind of shocked you can be the editor of a real estate publication and not realize that $ you put into improving or maintaining an asset becomes part of the asset’s value, it doesn’t just disappear
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Erik Engquist
@erik_engquist
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Replying to @ceaweaver
It is going to be hard to have an intelligent, productive policy debate if you expect people to throw their money out the window.
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Erik Engquist
@erik_engquist
True, but do you think building owners are such bad businesspeople that they would leave decrepit units vacant if it would be profitable to fix and re-rent them? They're doing the math, not keeping units vacant out of spite. We need to find a solution. People need homes.
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Genevieve 👁
@shamechamp
I 100% do, in the same way that workers go on strike to wield political pressure even though it would be profitable for them to go to work. It is a short term sacrifice in service of longer term political goals; they believe they can push the state to undo tenant protections.
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Cea Weaver
@ceaweaver
You don’t see the professionalish landlords acting in this way. It’s just ppl who want it to be passive income or something to supplement their families wealth and are pissed that it’s actually a job
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Erik Engquist
@erik_engquist
Honest question: Do you think Carlyle will be a better landlord than the small ones it just replaced at 130+ Brooklyn and Queens buildings? I'm guessing you'd count the firm as "professionalish" but often Big Real Estate is denigrated as heartless and single-minded.
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Cea Weaver
@ceaweaver
Couldn't say! In some ways maybe yes and others maybe no. But re: Carlyle specifically: They are quite clear that they're buying those prop w/ intent to raise rents/evict. So no, not better. 1/2
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