At $40,000 a year a person could not afford Mamdani’s 1-bedroom apartment which rents for $2,300. Cuomo wants to introduce a means test for having a rent-regulated apartment. We had luxury decontrol before. An apartment would be decontrolled if a tenant’s household income reached a certain level.
What my landlord used to do is send every rent-regulated tenant a form requiring them to detail their income and attach copies of their income tax returns. If a tenant didn’t meet the deadline for whatever reason, the landlord would then petition to decontrol the apartment.
And this could happen based on a technicality. Seniors were vulnerable. Some people in creative fields had big income swings from year to year. And the decontrol threshold wasn’t always adjusted for inflation by Albany. If you are not from NYC then don’t back Cuomo on this.
He's probably going to win. He's a populist. He's got people riled up and excited, but the real test is when it's time for him to implement some policies. I'm not a fortune teller I don't know if he's going to keep his promises but I do pay attention to patterns and the pattern says he won't.
Someone making less than him could benefit from it. He doesn't need that benefit. That's all I'm saying. It just makes him look hypocritical when his brand is fighting for the little guy.