1 00:00:06,120 --> 00:00:08,200 Speaker 1: All right, welcome back to the Carl Jackson Show again. 2 00:00:08,280 --> 00:00:10,080 Speaker 1: This is your daily dose of freedom. 3 00:00:10,080 --> 00:00:10,280 Speaker 2: Guys. 4 00:00:10,320 --> 00:00:13,039 Speaker 1: I want to talk about Mayor Mom Donnie and why 5 00:00:13,280 --> 00:00:17,880 Speaker 1: rich landlords are actually getting richer under ma'm Danny and 6 00:00:17,920 --> 00:00:21,279 Speaker 1: the small mom pop landlords are losing their shirts and 7 00:00:21,320 --> 00:00:24,480 Speaker 1: they're going to continue to lose their shirts if Mom 8 00:00:24,560 --> 00:00:27,760 Speaker 1: Donnie's policies come to fruition. So I know there's a 9 00:00:27,760 --> 00:00:29,440 Speaker 1: lot of news out there today, but one of the 10 00:00:30,280 --> 00:00:32,239 Speaker 1: stories that I feel is so important. This was a 11 00:00:32,280 --> 00:00:36,120 Speaker 1: Wall Street Journal column that hit today Wall Street Journal. 12 00:00:36,479 --> 00:00:41,320 Speaker 1: Ma'm Danny's rental plan risk pushing small landlords toward extinction. 13 00:00:42,479 --> 00:00:45,960 Speaker 1: And there's an extinction or a distinction I excuse me 14 00:00:46,159 --> 00:00:49,120 Speaker 1: that I'm going to be making during this particular podcast, 15 00:00:49,200 --> 00:00:51,040 Speaker 1: And it's so very important. 16 00:00:51,320 --> 00:00:51,680 Speaker 2: Guys. 17 00:00:51,840 --> 00:00:55,279 Speaker 1: Ma'am Danny is a communist, all right. This is very 18 00:00:55,320 --> 00:00:59,440 Speaker 1: important that you understand this. This guy eventually believes in 19 00:00:59,520 --> 00:01:03,640 Speaker 1: taking over the means of production, all right. He wants 20 00:01:03,720 --> 00:01:06,040 Speaker 1: to take away your property rights, he wants to take 21 00:01:06,080 --> 00:01:09,679 Speaker 1: away your business. He wants the government to wants the 22 00:01:09,720 --> 00:01:12,400 Speaker 1: government to run these things. And how do you take 23 00:01:12,440 --> 00:01:14,840 Speaker 1: a how do you eat an elephant? One bid at 24 00:01:14,880 --> 00:01:17,360 Speaker 1: a time. You have to understand that this is what 25 00:01:17,440 --> 00:01:20,080 Speaker 1: ma'am Danny is doing. I was speaking earlier to R. C. 26 00:01:20,240 --> 00:01:22,720 Speaker 1: Williams of Watchmanaction dot Org. One of the things that 27 00:01:22,760 --> 00:01:24,880 Speaker 1: he said, some of you that were still watching during 28 00:01:24,880 --> 00:01:27,000 Speaker 1: the break I might remember one of the things that 29 00:01:27,040 --> 00:01:31,320 Speaker 1: we have to watch out for are obviously the sleeper 30 00:01:31,400 --> 00:01:34,759 Speaker 1: sales and stuff like that that perhaps Trump is awakening 31 00:01:34,800 --> 00:01:37,640 Speaker 1: inside of the United States. I argue that's a good thing. 32 00:01:38,000 --> 00:01:40,600 Speaker 1: We want to know who these comedies are. We want 33 00:01:40,640 --> 00:01:44,039 Speaker 1: to know who these Islamist are so that we can 34 00:01:44,080 --> 00:01:48,440 Speaker 1: take them on. God forbid, you get a another Joe 35 00:01:48,440 --> 00:01:51,440 Speaker 1: Biden in office, another Barack Obama. Are some of these 36 00:01:51,440 --> 00:01:54,720 Speaker 1: people that are going to acquiesce or appease the radical 37 00:01:54,800 --> 00:01:59,680 Speaker 1: left or Islamis And so sadly, the Biden administration has 38 00:01:59,680 --> 00:02:03,120 Speaker 1: put in a bad situation both financially and also as 39 00:02:03,120 --> 00:02:05,480 Speaker 1: far as national security is concerned with the wide open 40 00:02:05,560 --> 00:02:09,000 Speaker 1: borders and stuff like that, and also with foreign policy. 41 00:02:09,240 --> 00:02:12,840 Speaker 1: So President Trump has to deal with foreign policy, he 42 00:02:12,919 --> 00:02:15,840 Speaker 1: has to deal with the consequences even of that foreign 43 00:02:15,840 --> 00:02:20,480 Speaker 1: policy when it comes to domestic national security and also 44 00:02:21,000 --> 00:02:25,880 Speaker 1: domestic financial security. Now having said this, ma'am Danny is 45 00:02:26,000 --> 00:02:29,600 Speaker 1: a threat. Ma'm Danny is going to make you poor. Remember, 46 00:02:30,000 --> 00:02:34,240 Speaker 1: Democrats are only successful when you are unsuccessful. Ultimately, that 47 00:02:34,400 --> 00:02:38,600 Speaker 1: is why their policies aren't created to work, all right, 48 00:02:39,120 --> 00:02:40,600 Speaker 1: That's why all they can do is try to get 49 00:02:40,600 --> 00:02:44,720 Speaker 1: you mad about Trump while while they continue, they get 50 00:02:44,760 --> 00:02:46,880 Speaker 1: you mad, they get you angry, they get you upset 51 00:02:46,880 --> 00:02:49,799 Speaker 1: with Republicans, they get you upset with Trump, and their 52 00:02:49,840 --> 00:02:51,639 Speaker 1: agenda is to slowly take. 53 00:02:51,520 --> 00:02:53,520 Speaker 2: Away more and more and more and more and more 54 00:02:53,560 --> 00:02:55,680 Speaker 2: of your power. They make you angry. 55 00:02:55,720 --> 00:02:58,760 Speaker 1: They pretend like they're champion your causes, but what they 56 00:02:58,800 --> 00:03:02,440 Speaker 1: do is they take power from you. Remember, we the people, 57 00:03:02,520 --> 00:03:04,680 Speaker 1: we have power over them. But if you give that 58 00:03:04,840 --> 00:03:08,480 Speaker 1: power to them, eventually they'll take control. And that's exactly 59 00:03:08,520 --> 00:03:11,280 Speaker 1: what Ma'm Danny is doing. Oh you guys are tired 60 00:03:11,320 --> 00:03:13,480 Speaker 1: of this. Oh you guys are victims. Oh you guys 61 00:03:13,480 --> 00:03:16,880 Speaker 1: are oppressed. Let me champion those causes for you, let 62 00:03:16,919 --> 00:03:19,480 Speaker 1: me fight for you. But in exchange, you're going to 63 00:03:19,560 --> 00:03:21,840 Speaker 1: have to give me some power. It's different from when 64 00:03:21,880 --> 00:03:25,280 Speaker 1: a person comes into power and says, listen, I am 65 00:03:25,360 --> 00:03:28,000 Speaker 1: going to relinquish some power. I'm going to give you 66 00:03:28,080 --> 00:03:32,280 Speaker 1: power back. For example, a small and good example, or 67 00:03:32,480 --> 00:03:37,200 Speaker 1: tax cuts. Republicans typically are for tax cuts, not all 68 00:03:37,360 --> 00:03:40,200 Speaker 1: because many of them are weak andfectless, but for the 69 00:03:40,800 --> 00:03:43,320 Speaker 1: generally speaking, Republicans are for tax cuts. 70 00:03:43,320 --> 00:03:45,640 Speaker 2: What do tax cuts do? What are taxes? 71 00:03:46,000 --> 00:03:50,800 Speaker 1: Taxes take money from you take money from the tax payer. 72 00:03:51,120 --> 00:03:53,800 Speaker 1: So if you have tax cuts, what do you get 73 00:03:53,800 --> 00:03:56,240 Speaker 1: to do? You get to keep more of your money, 74 00:03:56,800 --> 00:04:00,120 Speaker 1: not government. But then you have people like ma'am Danny 75 00:04:00,160 --> 00:04:03,040 Speaker 1: that will demonize the rich and say, all right, we're 76 00:04:03,080 --> 00:04:04,680 Speaker 1: going to take more from the rich. We're going to 77 00:04:04,800 --> 00:04:07,000 Speaker 1: tax the rich, tax the rich and poor people in 78 00:04:07,000 --> 00:04:08,200 Speaker 1: middle class people are in there. 79 00:04:08,280 --> 00:04:10,640 Speaker 2: Yeah, tax the Ridge tax, the Ridge tax the rich. 80 00:04:11,320 --> 00:04:15,080 Speaker 1: Uh, you mean tax the job creators so the job 81 00:04:15,120 --> 00:04:18,880 Speaker 1: creators can leave, so that there's fewer people working for 82 00:04:18,920 --> 00:04:22,680 Speaker 1: those job creators, so that there's no longer a middle class, 83 00:04:22,839 --> 00:04:25,920 Speaker 1: so that there's more so that there's more poor people. 84 00:04:26,160 --> 00:04:29,200 Speaker 1: So remember when you hear these politicians talking about taxing 85 00:04:29,240 --> 00:04:32,640 Speaker 1: the rich, just understand that that means jobs are going 86 00:04:32,720 --> 00:04:35,480 Speaker 1: to go bye by. Whenever the government says they're going 87 00:04:35,560 --> 00:04:38,520 Speaker 1: to take away your money, money that you've earned and 88 00:04:38,600 --> 00:04:41,400 Speaker 1: confiscate your money, that is not a good thing. That 89 00:04:41,520 --> 00:04:44,520 Speaker 1: is not something that'd be celebrated. That is totally Unamerican. Now, 90 00:04:44,560 --> 00:04:47,040 Speaker 1: having said that, I'm going to explain why Man Danny 91 00:04:47,200 --> 00:04:51,360 Speaker 1: is going to make landlords in New York City, particularly 92 00:04:51,400 --> 00:04:56,359 Speaker 1: the middle class landlords poor. All right, so again the 93 00:04:56,440 --> 00:04:58,320 Speaker 1: story was from Wall Street Journal. Let me give you 94 00:04:58,360 --> 00:05:01,240 Speaker 1: the summary. New York City, small only owned rent stabilized 95 00:05:01,240 --> 00:05:05,599 Speaker 1: properties fear extinction amid new laws, rising costs, and Mayor's 96 00:05:05,760 --> 00:05:08,800 Speaker 1: or on Man Downey's housing proposals. I'm going to play 97 00:05:09,240 --> 00:05:12,240 Speaker 1: a video for you. This is cut number seven, if 98 00:05:12,240 --> 00:05:14,840 Speaker 1: we can get it ready here, Gabe. Cut number seven. 99 00:05:14,920 --> 00:05:18,920 Speaker 1: New York City voters are panicking after learning that Mayor 100 00:05:19,040 --> 00:05:22,760 Speaker 1: Mom Dommy scam them again. He wants to raise the 101 00:05:22,960 --> 00:05:29,040 Speaker 1: estate tax to fifty percent at seven hundred and seven 102 00:05:29,120 --> 00:05:32,560 Speaker 1: hundred and fifty thousand, not seven million. So this is 103 00:05:32,640 --> 00:05:35,240 Speaker 1: kind of a different issue, but it's still a tax issue. 104 00:05:35,360 --> 00:05:37,359 Speaker 1: So let's go to that cut number seven. 105 00:05:37,880 --> 00:05:42,000 Speaker 3: Voter game think that nationally we should raise the estate tax, 106 00:05:42,040 --> 00:05:45,200 Speaker 3: both to bring the more revenue and for equity reasons. 107 00:05:45,360 --> 00:05:47,760 Speaker 3: I think we should be very very careful about doing 108 00:05:47,800 --> 00:05:51,520 Speaker 3: it just in New York because people are mobile and 109 00:05:51,760 --> 00:05:54,839 Speaker 3: they're potentially more mobile later in life when their kids 110 00:05:54,839 --> 00:05:58,280 Speaker 3: are grown and they may be retired, and it would 111 00:05:58,279 --> 00:06:01,120 Speaker 3: really undermine the whole purpose of them like that, if 112 00:06:01,120 --> 00:06:04,080 Speaker 3: people left, we'd actually get less revenue. That would be 113 00:06:04,120 --> 00:06:05,159 Speaker 3: bad for everybody. 114 00:06:06,240 --> 00:06:09,680 Speaker 4: The business community has been blasting the proposal. Bill Ackman 115 00:06:09,720 --> 00:06:12,680 Speaker 4: posted on X quote, Mam Donnie's Tragi appears to make 116 00:06:12,720 --> 00:06:16,080 Speaker 4: New York City an unattractive place to live and to die. 117 00:06:16,480 --> 00:06:19,080 Speaker 4: Mam Donnie is facing a five point four billion dollar 118 00:06:19,200 --> 00:06:22,320 Speaker 4: city budget deficit for the fiscal year that begins July first. 119 00:06:22,560 --> 00:06:24,080 Speaker 4: This is one of the ways he is looking to 120 00:06:24,080 --> 00:06:24,880 Speaker 4: close that gap. 121 00:06:25,080 --> 00:06:27,440 Speaker 5: Harris, Wow, that line from Bill Ackman, I mean you 122 00:06:27,440 --> 00:06:29,039 Speaker 5: don't want to live here and you don't want to 123 00:06:29,040 --> 00:06:29,440 Speaker 5: die here. 124 00:06:29,560 --> 00:06:32,520 Speaker 2: That is some strong stuff. Madison, Thank you any moment. 125 00:06:32,520 --> 00:06:35,800 Speaker 1: Now we can cut it the lunch, we can cut 126 00:06:35,839 --> 00:06:39,200 Speaker 1: it there, but this is this is we can cut 127 00:06:39,240 --> 00:06:41,520 Speaker 1: it there, Gabe, all right, so we can this is 128 00:06:41,720 --> 00:06:44,200 Speaker 1: I mean, this is not good for This is not 129 00:06:44,240 --> 00:06:47,119 Speaker 1: good for New York City. They're going to be losing money. 130 00:06:47,120 --> 00:06:49,000 Speaker 1: They're not going to be making more money because rich 131 00:06:49,000 --> 00:06:51,240 Speaker 1: people are going to continue to leave, and now the 132 00:06:51,279 --> 00:06:53,880 Speaker 1: people that are going to be left behind are going 133 00:06:54,000 --> 00:06:56,560 Speaker 1: to be the middle class and the poor that have 134 00:06:56,760 --> 00:06:59,200 Speaker 1: no place to go. This guy is making New York 135 00:06:59,200 --> 00:07:01,800 Speaker 1: City a hell hole, and he's joined it pretty quickly. 136 00:07:02,200 --> 00:07:05,560 Speaker 1: I hope that he loses in in four years. But 137 00:07:05,680 --> 00:07:08,560 Speaker 1: it's New York City after all. So so who knows. 138 00:07:08,600 --> 00:07:11,239 Speaker 1: So's the here's the summary from the Wall Street Journal. 139 00:07:11,360 --> 00:07:14,840 Speaker 1: So again New York City, small family owned rent stabilized 140 00:07:14,880 --> 00:07:19,520 Speaker 1: properties if your extinction amid new laws, rising costs in 141 00:07:19,640 --> 00:07:23,640 Speaker 1: man Danny's housing proposals. So here's an example. And I'm 142 00:07:23,640 --> 00:07:29,960 Speaker 1: probably gonna butcher this name, so forgive Mealio. Natalia Banano's 143 00:07:30,480 --> 00:07:34,400 Speaker 1: family has owned rent stabilized properties in New York City 144 00:07:34,640 --> 00:07:38,360 Speaker 1: since the eighties, when her Italian immigrant father purchased the first, 145 00:07:38,400 --> 00:07:41,880 Speaker 1: a forty unit Brooklyn building that was her childhood home. 146 00:07:42,200 --> 00:07:44,920 Speaker 1: Two buildings haven't the two buildings haven't made money in 147 00:07:45,040 --> 00:07:50,840 Speaker 1: years because of recent laws limiting rent increases. So laws 148 00:07:51,040 --> 00:07:54,520 Speaker 1: that limit rent increases. So you've got politicians that are 149 00:07:54,600 --> 00:07:58,360 Speaker 1: telling property owners, wait a minute. I know you want 150 00:07:58,400 --> 00:08:00,000 Speaker 1: to fix up your apartment. I know you want to 151 00:08:00,160 --> 00:08:02,360 Speaker 1: make a little money. You can't do that. You can't 152 00:08:02,600 --> 00:08:04,440 Speaker 1: you can't raise the rent. Okay, well, I can't raise 153 00:08:04,480 --> 00:08:05,960 Speaker 1: the rent. If I can't raise the rent, I can't 154 00:08:06,120 --> 00:08:08,360 Speaker 1: afford to fix up the properties for tenants and all 155 00:08:08,400 --> 00:08:11,400 Speaker 1: this kind of stuff. Understand what this leads to. So 156 00:08:11,440 --> 00:08:16,080 Speaker 1: you've got recent laws limiting rent increases, paired with higher 157 00:08:16,280 --> 00:08:20,760 Speaker 1: mortgage rates as well and other rising costs. So you 158 00:08:20,840 --> 00:08:23,240 Speaker 1: have this family that were home hanging on to their 159 00:08:23,280 --> 00:08:26,160 Speaker 1: hopes to hold onto this unit, but they simply can't. 160 00:08:26,400 --> 00:08:26,560 Speaker 2: Ma'n. 161 00:08:26,640 --> 00:08:32,000 Speaker 1: Danny's housing proposals to freeze rents and increase property taxes 162 00:08:32,760 --> 00:08:35,320 Speaker 1: are making matters worse for all of the people in 163 00:08:35,360 --> 00:08:37,839 Speaker 1: New York City or the landlords or New York City. 164 00:08:38,040 --> 00:08:42,040 Speaker 1: So again his housing proposals freeze rent, increase property taxes. 165 00:08:42,200 --> 00:08:44,679 Speaker 1: He wants to increase property taxes by nine and a 166 00:08:44,720 --> 00:08:48,080 Speaker 1: half percent. Guys, the very rich people are mobile, but 167 00:08:48,200 --> 00:08:50,880 Speaker 1: the people that are barely making it, these people that 168 00:08:51,040 --> 00:08:54,240 Speaker 1: perhaps own some units, but they haven't been able their rent. 169 00:08:54,480 --> 00:08:57,600 Speaker 1: You know, they've had a rent freeze for god knows 170 00:08:57,600 --> 00:09:00,520 Speaker 1: how long, their rent stabilized apartments. Now they're getting a 171 00:09:00,640 --> 00:09:02,840 Speaker 1: tax increase, so they've got to pay more to the city, 172 00:09:03,000 --> 00:09:05,480 Speaker 1: but they can't raise their rents. How are they going 173 00:09:05,559 --> 00:09:06,079 Speaker 1: to cover that? 174 00:09:07,200 --> 00:09:07,640 Speaker 2: This people? 175 00:09:07,640 --> 00:09:10,440 Speaker 1: We are going to be called slum lords or or 176 00:09:10,480 --> 00:09:13,800 Speaker 1: you know, the slum landlords. But they can't help, but 177 00:09:13,920 --> 00:09:17,800 Speaker 1: not to fix up their buildings. It's absolutely insane. Banano 178 00:09:17,880 --> 00:09:20,360 Speaker 1: decided she has to sell. These people have. 179 00:09:20,400 --> 00:09:22,640 Speaker 2: Owned these property since the eighties. They have to sell. 180 00:09:23,240 --> 00:09:27,080 Speaker 1: Though these proposals haven't been passed, the Bananos realize that 181 00:09:27,120 --> 00:09:30,440 Speaker 1: this is a threat. Here's a quote from the Bananos 182 00:09:30,480 --> 00:09:32,439 Speaker 1: reviewing all the numbers from last year. It's not really 183 00:09:32,480 --> 00:09:38,120 Speaker 1: get getting better in New York City's mond pop landlords 184 00:09:38,440 --> 00:09:40,640 Speaker 1: wants a fixture. According to the Wall Street Journal, the 185 00:09:40,640 --> 00:09:44,800 Speaker 1: city's housing landscape are now staring at extinction. Owning a 186 00:09:44,800 --> 00:09:47,680 Speaker 1: New York City building with even a half dozen units 187 00:09:48,120 --> 00:09:51,200 Speaker 1: was for decades a reliable source of business or in 188 00:09:51,200 --> 00:09:52,400 Speaker 1: income for these families. 189 00:09:52,480 --> 00:09:53,080 Speaker 2: Not anymore. 190 00:09:53,320 --> 00:09:57,079 Speaker 1: But sometimes middle class families that operated rent stabilized apartments 191 00:09:57,240 --> 00:10:00,960 Speaker 1: could count on steady income that would rise within inflations. 192 00:10:01,000 --> 00:10:05,480 Speaker 1: Apartments in well located neighborhoods rarely had trouble finding tenants. 193 00:10:06,200 --> 00:10:10,040 Speaker 1: But now many of these properties are are are barely 194 00:10:10,080 --> 00:10:14,160 Speaker 1: above water, or now they're even underwater. And the crazy 195 00:10:14,200 --> 00:10:17,679 Speaker 1: thing is the banks won't even foreclose on the properties. 196 00:10:17,840 --> 00:10:20,079 Speaker 2: Why won't the banks foreclose on the. 197 00:10:20,040 --> 00:10:25,120 Speaker 1: Properties because they don't want distressed properties on their books. 198 00:10:25,480 --> 00:10:30,080 Speaker 1: And sadly, with Zoron Mam Danny in charge, this is 199 00:10:30,120 --> 00:10:31,880 Speaker 1: going to happen. More and more people are going to 200 00:10:31,920 --> 00:10:34,240 Speaker 1: be losing their shirts. It's going to be harder for 201 00:10:34,400 --> 00:10:39,120 Speaker 1: people to be able to sell these units unless rich 202 00:10:39,120 --> 00:10:40,840 Speaker 1: people just come in and take them over. But in 203 00:10:40,880 --> 00:10:43,400 Speaker 1: the end, I don't even see the incentive for rich 204 00:10:43,480 --> 00:10:45,800 Speaker 1: people to come in and take them over if they're 205 00:10:45,840 --> 00:10:48,960 Speaker 1: not going to be allowed to raise the rents. I mean, 206 00:10:48,960 --> 00:10:52,640 Speaker 1: this absolutely makes no sense whatsoever. So this guy came 207 00:10:52,679 --> 00:10:56,000 Speaker 1: in with this, you know, riding on a white horse, 208 00:10:56,200 --> 00:10:58,360 Speaker 1: talking about how he was gonna coming in to help 209 00:10:58,400 --> 00:11:00,760 Speaker 1: the poor lower rents and all this kind of stuff. 210 00:11:00,920 --> 00:11:05,880 Speaker 1: He's his policies, his proposals are having the exact opposite effect. 211 00:11:06,200 --> 00:11:07,640 Speaker 1: More on this when we get back. This is the 212 00:11:07,679 --> 00:11:10,079 Speaker 1: Carl Jackson Show. 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Use 236 00:12:16,080 --> 00:12:17,360 Speaker 1: the promo code Carl. 237 00:12:24,080 --> 00:12:29,080 Speaker 6: Titians that constantly reaffirmed Israel's right to exist because people 238 00:12:29,240 --> 00:12:33,200 Speaker 6: like me are constantly attacked by politicians for standing up 239 00:12:33,240 --> 00:12:36,760 Speaker 6: for Palestine, and you are constantly defending the right bra 240 00:12:36,840 --> 00:12:40,920 Speaker 6: Israel to exist. My family is tight pilestein right now, 241 00:12:41,320 --> 00:12:45,440 Speaker 6: constantly under attack, and I'm hearing Tuesday three Palstein, but 242 00:12:45,520 --> 00:12:47,120 Speaker 6: also Israel has the right to exist. 243 00:12:47,440 --> 00:12:48,640 Speaker 3: Don't be hypocritical. 244 00:12:48,920 --> 00:12:52,400 Speaker 5: Don't be hypocritical to stake free Palestine when you're also 245 00:12:52,520 --> 00:12:55,120 Speaker 5: defending the right bra Israel to exist. It does not 246 00:12:55,240 --> 00:12:57,719 Speaker 5: have the right to exist. It does not have the 247 00:12:57,800 --> 00:13:03,479 Speaker 5: right to exist. It's not your land, the right twigs, whoa. 248 00:13:04,960 --> 00:13:09,120 Speaker 1: Wow, it's not your land to decide whether Israel has 249 00:13:09,160 --> 00:13:12,120 Speaker 1: the right to exist, says the man that doesn't understand 250 00:13:12,160 --> 00:13:16,120 Speaker 1: that Palestine doesn't exist. This is who we're dealing with. 251 00:13:17,600 --> 00:13:23,760 Speaker 1: And unfortunately, that is Zoran Mandani's base, his base for 252 00:13:23,840 --> 00:13:26,240 Speaker 1: all of you that that voted for him because you 253 00:13:26,280 --> 00:13:32,560 Speaker 1: wanted a piece of the American dream, that's his base. Communists, radicals, 254 00:13:33,400 --> 00:13:36,319 Speaker 1: that's his base. Let me get back to this story 255 00:13:36,520 --> 00:13:40,360 Speaker 1: real quick. So the landlords have stopped keeping up their 256 00:13:40,440 --> 00:13:43,880 Speaker 1: their units in New York City, now uninterested in spending 257 00:13:43,920 --> 00:13:46,360 Speaker 1: on apartments. This according to the Wall Street Journal, that 258 00:13:46,400 --> 00:13:49,240 Speaker 1: will take years for them to make a return. And 259 00:13:49,280 --> 00:13:52,240 Speaker 1: now Mamdani is promising a crackdown on top of that 260 00:13:52,360 --> 00:13:56,040 Speaker 1: on landlords who aren't properly maintaining their buildings, so they 261 00:13:56,080 --> 00:13:59,760 Speaker 1: can't afford to maintain their buildings as a result of somebody, 262 00:14:00,240 --> 00:14:04,200 Speaker 1: as a result of somebody, as a result of Deblasio. 263 00:14:03,600 --> 00:14:06,120 Speaker 2: In twenty nineteen. Here's where it started. 264 00:14:06,120 --> 00:14:09,360 Speaker 1: I believe small landlords financial plight didn't start with Mam Danny. 265 00:14:09,559 --> 00:14:12,160 Speaker 1: A twenty nineteen law that aimed to make housing more 266 00:14:12,200 --> 00:14:16,240 Speaker 1: affordable and the city restricted rent stabilized landlords' ability to 267 00:14:16,360 --> 00:14:20,440 Speaker 1: raise their rents. Then interest rates started to soar in 268 00:14:20,480 --> 00:14:24,240 Speaker 1: twenty twenty two. Obviously that was during the lockdown, the 269 00:14:24,280 --> 00:14:26,040 Speaker 1: COVID lockdown era. 270 00:14:26,360 --> 00:14:27,440 Speaker 2: So Ma'm danny. 271 00:14:28,440 --> 00:14:32,160 Speaker 1: He doesn't want slum lords, but his policies are going 272 00:14:32,280 --> 00:14:35,479 Speaker 1: to create more slum lords by necessity. 273 00:14:35,520 --> 00:14:36,920 Speaker 2: Now here's a quote for Mam Danny. 274 00:14:37,040 --> 00:14:40,120 Speaker 1: We've already stepped up to protect tenants who are living 275 00:14:40,160 --> 00:14:46,360 Speaker 1: in buildings that landlords have neglected, he said. He said 276 00:14:46,440 --> 00:14:50,920 Speaker 1: that at a third rental rip off hearing. He said 277 00:14:50,920 --> 00:14:54,720 Speaker 1: his administration would release a housing plan based on tenant 278 00:14:54,760 --> 00:14:59,000 Speaker 1: complaints in early May. But if the tenants don't understand 279 00:14:59,400 --> 00:15:03,080 Speaker 1: that the problem, are the politicians what are we doing here? 280 00:15:04,120 --> 00:15:09,240 Speaker 1: What are we doing here? I mean, this is crazy. 281 00:15:09,520 --> 00:15:13,160 Speaker 1: It's using the useful idiots to keep your power. That's 282 00:15:13,160 --> 00:15:16,840 Speaker 1: what Man Danny is doing. National multi family operators listen 283 00:15:16,920 --> 00:15:21,000 Speaker 1: to this, and real estate investment trust can better endure 284 00:15:21,040 --> 00:15:24,560 Speaker 1: this turbulent period because they have greater financial flexibility and 285 00:15:24,680 --> 00:15:27,920 Speaker 1: generally have other investments to offset their losses, so they 286 00:15:27,920 --> 00:15:30,320 Speaker 1: can wait Man Danny out. And maybe that's the answer. 287 00:15:30,560 --> 00:15:34,000 Speaker 1: Maybe they'll buy the units from the small mom pop 288 00:15:34,360 --> 00:15:36,760 Speaker 1: landlords and they'll just be able to wait Man Danny 289 00:15:36,800 --> 00:15:39,520 Speaker 1: out because they can afford it their national chains or 290 00:15:39,560 --> 00:15:43,040 Speaker 1: their major real estate investors. So essentially, this guy that 291 00:15:43,080 --> 00:15:45,040 Speaker 1: said he was for the little guy, Mam Danny is 292 00:15:45,080 --> 00:15:47,960 Speaker 1: all he's doing is emboldening the big eye. And I'm 293 00:15:48,000 --> 00:15:50,760 Speaker 1: not against anybody being rich, but if you're running for 294 00:15:50,840 --> 00:15:53,480 Speaker 1: office saying you're going to help the poor, meanwhile, all 295 00:15:53,520 --> 00:15:57,480 Speaker 1: you're doing is killing the American dream for the poor 296 00:15:57,480 --> 00:16:01,040 Speaker 1: in the middle class. Come on, man, I hope that you. 297 00:16:00,960 --> 00:16:03,240 Speaker 2: Guys don't continue to fall for this guy, Ma'm Danny. 298 00:16:03,280 --> 00:16:03,520 Speaker 2: He is. 299 00:16:04,280 --> 00:16:08,320 Speaker 1: I consider a politician like him absolutely evil in my opinion. 300 00:16:08,360 --> 00:16:10,520 Speaker 1: And the fact that that guy that walked up to 301 00:16:10,600 --> 00:16:14,960 Speaker 1: him is his base, those are his base voters. It's 302 00:16:15,000 --> 00:16:19,760 Speaker 1: absolutely insane to me. These firms are the main beneficiaries 303 00:16:19,800 --> 00:16:22,720 Speaker 1: of median rents. According to the Wall Street Journal, for 304 00:16:22,800 --> 00:16:26,360 Speaker 1: Manhattan apartments that are hitting a record high a five 305 00:16:26,520 --> 00:16:32,560 Speaker 1: thousand a month, So the medium rental rental rate in 306 00:16:32,680 --> 00:16:38,880 Speaker 1: New York City five thousand dollars a month. And guys, 307 00:16:38,960 --> 00:16:43,600 Speaker 1: I guarantee you that's probably some one bedroom, one bath 308 00:16:43,840 --> 00:16:47,440 Speaker 1: or or or what are the what are those apartments 309 00:16:47,440 --> 00:16:50,720 Speaker 1: called that don't have a don't have a bedroom? 310 00:16:50,760 --> 00:16:54,520 Speaker 2: Gave you good lord, I forget what they're called. 311 00:16:54,960 --> 00:16:59,760 Speaker 1: But anyway, basically like an efficiency, you know, basically a flat, 312 00:17:00,320 --> 00:17:03,480 Speaker 1: you get a little toilet, bathroom in there, and then 313 00:17:03,560 --> 00:17:06,600 Speaker 1: you're a studio, a studio type apartment. That's what I'm 314 00:17:06,640 --> 00:17:09,119 Speaker 1: thinking of. So Man Danny said the rent freeze is 315 00:17:09,119 --> 00:17:14,280 Speaker 1: crucial to the survival of lower income New Yorkers. So 316 00:17:14,680 --> 00:17:18,399 Speaker 1: it's crucial for a lower income income New Yorker. So 317 00:17:18,520 --> 00:17:22,200 Speaker 1: the tenants get to stay, but they have to stay 318 00:17:22,359 --> 00:17:26,119 Speaker 1: in facilities that are going to go to crap basically 319 00:17:26,160 --> 00:17:29,840 Speaker 1: because the owners are don't have the money to fix 320 00:17:29,880 --> 00:17:32,199 Speaker 1: them up. He said that property tax increase would be 321 00:17:32,480 --> 00:17:36,199 Speaker 1: a last resort to balance the city budget if he 322 00:17:36,240 --> 00:17:39,880 Speaker 1: can't convince the governor of a tax hike on the wealthy. 323 00:17:41,520 --> 00:17:43,640 Speaker 1: I mean, that's insane. The wealthy are simply going to leave. 324 00:17:43,880 --> 00:17:45,840 Speaker 1: That's what the left never seems to figure out. The 325 00:17:46,000 --> 00:17:48,520 Speaker 1: wealthy can pick up and leave a city. HOU spokesman 326 00:17:48,560 --> 00:17:52,280 Speaker 1: said the mayor's coming housing plan would include efforts to 327 00:17:52,359 --> 00:17:57,880 Speaker 1: lower insurance costs and reform property tax the property tax 328 00:17:57,920 --> 00:18:03,399 Speaker 1: system to help struggling stabilized properties. So remember, reforming the 329 00:18:03,440 --> 00:18:06,880 Speaker 1: property tax system is taxing the rich. And they said 330 00:18:06,920 --> 00:18:13,320 Speaker 1: that his housing plan would include efforts to lower insurance costs. 331 00:18:14,520 --> 00:18:17,119 Speaker 1: Efforts to lower insurance costs. I doubt that's going to 332 00:18:17,160 --> 00:18:20,840 Speaker 1: happen because I've got a sneaky suspicion that these people 333 00:18:20,880 --> 00:18:24,280 Speaker 1: are probably donors to the Democrat Party. A guy by 334 00:18:24,280 --> 00:18:26,760 Speaker 1: the name of Eric Banam said, I'm not a gigantic 335 00:18:27,320 --> 00:18:32,760 Speaker 1: rate that can just go whether the storm are e 336 00:18:33,240 --> 00:18:38,240 Speaker 1: t He just sold thirty unit billing in Richmond Hill 337 00:18:38,320 --> 00:18:40,800 Speaker 1: neighborhood of Queens that has been in his family since 338 00:18:40,880 --> 00:18:44,320 Speaker 1: nineteen eighty eight. He can no longer just can no 339 00:18:44,440 --> 00:18:47,320 Speaker 1: longer afford the unit. This is going to be happening 340 00:18:47,359 --> 00:18:50,640 Speaker 1: more and more so's he sold his unit and now 341 00:18:51,119 --> 00:18:55,080 Speaker 1: he and his I believe his mother. They spent months 342 00:18:55,119 --> 00:18:58,479 Speaker 1: sifting through mementos in this building. But the money that 343 00:18:58,480 --> 00:19:02,439 Speaker 1: they were able to profit from that real estate in 344 00:19:02,480 --> 00:19:04,919 Speaker 1: New York, they're gonna invest in a. 345 00:19:05,640 --> 00:19:09,719 Speaker 2: Small property in Miami. So this is insane. 346 00:19:09,920 --> 00:19:13,480 Speaker 1: A small landlords financial plight again didn't start with Mam Danny. 347 00:19:13,520 --> 00:19:16,400 Speaker 1: It started with Debasio and other communists, and things are 348 00:19:16,400 --> 00:19:20,000 Speaker 1: only gonna get worse. The Wall Street Journal reports that 349 00:19:20,080 --> 00:19:23,360 Speaker 1: proved deadly for the rent stabilized market, landlords were suddenly 350 00:19:23,400 --> 00:19:28,800 Speaker 1: behind on piles of much more expensive debt. Property values plummeted. 351 00:19:29,640 --> 00:19:33,680 Speaker 1: Lenders posted record losses and froze up from up from 352 00:19:33,720 --> 00:19:37,240 Speaker 1: twenty nineteen to twenty twenty five. The volume of blending 353 00:19:37,280 --> 00:19:42,080 Speaker 1: to the city's rent stabilized properties dropped fifty nine percent. 354 00:19:42,920 --> 00:19:47,240 Speaker 1: And it's not gonna get any better. With Mamdani, some 355 00:19:47,280 --> 00:19:49,920 Speaker 1: small landlords are holding on. A guy by the name 356 00:19:49,960 --> 00:19:52,600 Speaker 1: of Howard Port said he was he has no choice 357 00:19:52,640 --> 00:19:54,719 Speaker 1: but to keep the rent stabilized Brooklyn building that his 358 00:19:54,760 --> 00:19:58,400 Speaker 1: family has owned for three generations. A sixty five year 359 00:19:58,400 --> 00:20:01,800 Speaker 1: old currently owes twenty He owes twenty four million dollars 360 00:20:01,840 --> 00:20:03,600 Speaker 1: on the loan. His family is owned the building for 361 00:20:03,640 --> 00:20:07,760 Speaker 1: three generations. Though he could likely sell for around thirty million, 362 00:20:08,200 --> 00:20:11,040 Speaker 1: the associated capital gains tax from the sale would exceed 363 00:20:11,080 --> 00:20:13,120 Speaker 1: his profit and bankrupt him. 364 00:20:13,280 --> 00:20:15,639 Speaker 2: Did you hear that the capital. 365 00:20:15,320 --> 00:20:19,679 Speaker 1: Gains the capital gains tax from the sale would exceed 366 00:20:19,760 --> 00:20:28,320 Speaker 1: his profit and bankrupt him. That is insane, says I 367 00:20:28,320 --> 00:20:28,840 Speaker 1: can't sell. 368 00:20:29,600 --> 00:20:30,720 Speaker 2: I would be destroyed. 369 00:20:31,480 --> 00:20:34,720 Speaker 1: So you live in New York City, you get commis 370 00:20:34,760 --> 00:20:39,400 Speaker 1: in office, you get property taxes, capital gains taxes. This 371 00:20:39,440 --> 00:20:41,879 Speaker 1: man could walk away with six million dollars. You know 372 00:20:41,920 --> 00:20:44,000 Speaker 1: what you could do with six million dollars in Florida. 373 00:20:45,840 --> 00:20:48,040 Speaker 1: I mean he can't get it in New York. I 374 00:20:48,040 --> 00:20:48,879 Speaker 1: mean they'll punish him. 375 00:20:49,760 --> 00:20:51,520 Speaker 2: What do they have? Don't they have a death tax? 376 00:20:51,560 --> 00:20:53,040 Speaker 2: They have? He can't. 377 00:20:53,320 --> 00:20:55,240 Speaker 1: He can't even get the money in New York. He 378 00:20:55,240 --> 00:20:58,560 Speaker 1: would have to pay more capital gains tax. So let's 379 00:20:58,560 --> 00:21:02,480 Speaker 1: say this building work in Florida, he sold it. You 380 00:21:02,520 --> 00:21:05,080 Speaker 1: know he bought it for twenty four He owed twenty 381 00:21:05,080 --> 00:21:07,639 Speaker 1: four million on it. He could sell it for thirty million, 382 00:21:07,680 --> 00:21:11,320 Speaker 1: walk away six million dollars in your pocket. You know 383 00:21:11,359 --> 00:21:13,919 Speaker 1: what you can buy in the state of Florida for 384 00:21:14,040 --> 00:21:16,879 Speaker 1: six million dollars let alone. You would never have to 385 00:21:17,080 --> 00:21:19,919 Speaker 1: you know, you would never have to work again. Invest 386 00:21:19,960 --> 00:21:23,640 Speaker 1: your money wisely whatever, live off of that, live off 387 00:21:23,680 --> 00:21:27,000 Speaker 1: of the interest. But I'm talking. I mean, you could 388 00:21:27,000 --> 00:21:33,280 Speaker 1: buy a gorgeous home here or a half million dollars 389 00:21:33,280 --> 00:21:35,919 Speaker 1: than saying poor doesn't have a four oh one k 390 00:21:36,119 --> 00:21:40,879 Speaker 1: His retirement fund was his building, which he said used 391 00:21:40,920 --> 00:21:44,560 Speaker 1: to be worth sixty million dollars. Wow, but he set 392 00:21:44,560 --> 00:21:47,919 Speaker 1: the half. He said half the building's value was wiped 393 00:21:47,920 --> 00:21:51,160 Speaker 1: away after the passage of the two thousand and nine 394 00:21:51,200 --> 00:21:51,680 Speaker 1: rent law. 395 00:21:51,840 --> 00:21:54,520 Speaker 2: See this, this is the real deal. This is a 396 00:21:54,520 --> 00:21:55,000 Speaker 2: real deal. 397 00:21:55,400 --> 00:21:58,160 Speaker 1: They want these people to walk away from these buildings. 398 00:21:58,600 --> 00:22:01,840 Speaker 1: I think the government, under the leadership of Mam Danny, 399 00:22:03,400 --> 00:22:05,480 Speaker 1: they want to be the owners of this property. He's 400 00:22:05,480 --> 00:22:08,439 Speaker 1: a communist. After all, you will own nothing and you 401 00:22:08,480 --> 00:22:11,440 Speaker 1: will be happy. So they passed these laws, these rent 402 00:22:11,480 --> 00:22:15,159 Speaker 1: stabilized laws, these rent control laws under the Blasio in 403 00:22:15,200 --> 00:22:20,040 Speaker 1: twenty nineteen, and automatically, his building gult plummets from a 404 00:22:20,200 --> 00:22:25,120 Speaker 1: net value, a net worth of sixty million dollars all 405 00:22:25,119 --> 00:22:26,800 Speaker 1: the way to thirty million. And you're like, I don't 406 00:22:26,800 --> 00:22:29,480 Speaker 1: feel sorry for him thirty million. Again, he owes twenty 407 00:22:29,480 --> 00:22:32,600 Speaker 1: four million dollars on this building. Other family owners are 408 00:22:32,640 --> 00:22:35,960 Speaker 1: selling to corporations that can better absorb cost shocks, so 409 00:22:36,000 --> 00:22:39,320 Speaker 1: the big guys are winning. By twenty fourteen, corporations we're 410 00:22:39,320 --> 00:22:42,879 Speaker 1: buying almost four times as many properties from individuals as 411 00:22:42,920 --> 00:22:45,359 Speaker 1: the other way around, according to an analysis by the 412 00:22:45,359 --> 00:22:49,880 Speaker 1: housing research nonprofit just Fix. That represents a stark change 413 00:22:49,880 --> 00:22:53,440 Speaker 1: from the two thousands, when property sales from corporate owners 414 00:22:53,480 --> 00:22:58,840 Speaker 1: to individuals were roughly equal to those from individuals to corporations. Guys, 415 00:22:58,880 --> 00:23:02,360 Speaker 1: you will own nothing and be happy. This is communism 416 00:23:02,440 --> 00:23:06,560 Speaker 1: at play inside of New York City. I'm afraid that man, 417 00:23:07,880 --> 00:23:10,440 Speaker 1: this is only going to get worse. Today, corporate landlords 418 00:23:10,440 --> 00:23:13,439 Speaker 1: own ninety point two percent of New York City's multi 419 00:23:13,440 --> 00:23:18,480 Speaker 1: family housing stock, and the private individuals only owned nine 420 00:23:18,520 --> 00:23:22,399 Speaker 1: point eight percent. It was just fifty to fifty twenty 421 00:23:22,440 --> 00:23:22,920 Speaker 1: years ago.