Jason Hartman talks rent control today, both in his intro discussing the upcoming deadline for California’s state wide rent control, and with Paul J Massey, former mayorial candidate for New York City and CEO of B6 Real Estate Advisors, as the two discuss the impact rent control is having on the real estate market in New York City. Cap rates aren’t terrible for multifamily at the moment, but nobody knows what the future of their property is, so it’s holding things back quite a bit.
[3:19] LA City Council recently decided that landlords are required to let current tenants renew their lease
[11:22] US housing affordability woes causing migrations
Paul Massey Interview:
[18:24] Luxury homes and condominiums have been overbuilt in New York City
[21:31] What are the reasons rent control is being done?
[25:14] Paul’s real estate journey in New York City
[27:26] Cap rates available in New York City