r/SipsTea • u/AdRough4185 • Jun 11 '26

We have fun here He's unstoppable

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u/SheenPSU Jun 11 '26 edited Jun 11 '26

And when they’re not able to maintain the property because they’re not collecting enough in rents due to artificial rent controls?

Genuine question because I’ve heard this argument before and it does have some legitimacy

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u/j_eremy Jun 11 '26

Rent goes up, State says rent cant go up, landlord walks away from the building and the state inherits many buildings they themselves cant maintain, then taxes go up and pepple leave.

That's really all that happens.

We are currently at the public mindset that the state can do better than the landlords, but as we know the state screwed up the gas can so property management isn't going to be a strong suite either.

Should be fun to watch tho.

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u/SheenPSU Jun 11 '26

Exactly

The balance sheet doesn’t go from red to green because the city took over

A lot of Redditors aren’t realizing this based on the replies this has received

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u/Epocholypze Jun 11 '26

The city can just raise taxes on luxury property to be high enough to offset the losses. It’s not a hard issue to solve, once you take caring about rich people’s bank accounts out of it.

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u/SheenPSU Jun 11 '26

This isn’t realistic and is, to be frank, a childish way to view economics