Broker fees are breaking NYC housing, all thanks to leftist Dems
NY Post
One of the worst consequences of New York’s insane housing regime is people like the broker who tried to charge a client an insane $15,000 fee for a downmarket, rent-controlled apartment in Queens.
Middleman profiteers like that can only exist when the law refuses to allow supply to match demand via free-market pricing.
In this case, that’s due to the BS “pro-tenant” actions taken by city and state Democrats.
Former Mayor Bill de Blasio politicized the rent-hike process for regulated units, overseeing eight years of average annual increases of just 0.75% even as operating costs rose annually nearly five times as much.
Add in the state’s Tenant Protection Act of 2019, which prevents landlords from hiking rents remotely enough to cover the cost of bringing old units up to code, leaving them no choice but to leave the apartment vacant.
As a result, tens of thousands of rent-regulated units are off the market — and more every month.
