Tenants Will Suffer Again Under City Council’s Outrageous Plan for Apartment Buildings
Photo by Spencer Platt/Getty Images
New York’s City Council is intent on helping nonprofits snap up apartment buildings, whether owners want to sell to them or not.
Last week, leftist Councilwoman Sandy Nurse reintroduced the Community Right to Purchase Act, which would give city-approved groups preferential treatment in the sales of certain apartment buildings — such as by forcing owners to sell to them if they match competing private offers.
Supporters say the bill will keep housing “affordable” and “rooted in community control.”
But this outrageous subversion of private property will only deter investment, damage the city’s housing stock — and fail to make housing more affordable.
Continue reading the entire piece here at the New York Post
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Adam Lehodey is an investigative reporter at City Journal, covering governance, economics, and cultural affairs in New York City.