Here’s hoping Gov. Kathy Hochul doesn’t cave in budget talks
NY Post
We’re hoping the rumors out of Albany will prove untrue, and Gov. Kathy Hochul isn’t caving to progressives in state budget talks.
Peril No. 1: An expansion of rent control.
The misnamed “Good Cause Eviction” bill called for effectively capping rent hikes at 3% max for all units statewide, including those not yet regulated. It forced landlords to grant automatic lease renewals and made it nearly impossible to evict tenants, no matter the reason.
It seems Hochul is considering a “compromise” that would prevent hikes above as much as 10%, or five percentage points over the Consumer Price Index, The Post’s Vaughn Golden reported; other concessions are also on the table, such as excluding some buildings from the law.
Sorry, but as we recently warned, no tweaks or compromises can save “Good Cause”: In any form, it’ll scare away builders, reduce housing production and make it harder for tenants to find a decent place to live.
And count on progressives to tweak it in future years to make it even worse.
