Latest / Sid & Friends In The Morning / Suzanne Miller | 06-26-26

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Suzanne Miller | 06-26-26 · Sid & Friends In The Morning

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  Speaker 1: Feel the energy of the flaw. From the second to
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  Speaker 1: the ninth of August, Belfast welcomes the Cultis Flachhielmahern, the
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  Speaker 1: world's biggest celebration of Irish music and culture. Enjoy lively
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  Speaker 1: club sessions, street performances and all Ireland competitions on Belfast
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  Speaker 1: historic streets and worst class stages. Whether you're a devoted
• 0:20
  Speaker 1: Troup follower or a wide eyed first timer, be part
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  Speaker 1: of celebrating together. Plan your trip at flockhule dot Ie,
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  Speaker 1: organized by Cultis and Belfa City Council Suzanne Miller.
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  Speaker 2: Last night, the city voted on freezing rents. I just
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  Speaker 2: want to know your reaction and the reaction of the
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  Speaker 2: residential landlords.
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  Speaker 3: John It's not pretty. So I raised an alarm about
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  Speaker 3: this last year. If you recall he did really said
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  Speaker 3: he was going to do. He won the election by
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  Speaker 3: this policy. If you freeze one million apartments, that figured
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  Speaker 3: two people live in an apartment, that's two million votes
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  Speaker 3: stacked the board. It was a seven to one freeze
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  Speaker 3: on one to two year leases, and he did said
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  Speaker 3: he was going to do so. Any lease that starts
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  Speaker 3: October one, there'll be no freeze. He appointed his friends
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  Speaker 3: I would say the board said they acted independently. I
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  Speaker 3: do not believe that is the case. Even one member,
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  Speaker 3: Christina Smith, resigned because she said it was stacked. The
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  Speaker 3: Real Estate Board of New York says, this is going
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  Speaker 3: to it's really going to kill the small landlords, John,
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  Speaker 3: And this is a very big concern because it's just
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  Speaker 3: going to be a ripple effect on New York because
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  Speaker 3: the insurance goes up, the labor goes up, the fuel
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  Speaker 3: goes up, the taxes goes up. And what happens to
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  Speaker 3: the small landlords? They can't They're going to have to
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  Speaker 3: if they don't make their repairs, then the city can
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  Speaker 3: impose fines. Eventually they can take the buildings back from
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  Speaker 3: these small landlords. And that's called what what is that called? John?
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  Speaker 4: Communism?
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  Speaker 3: Thank you? So that Koppel will come back on the market.
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  Speaker 3: On the on the they're going to try and pass
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  Speaker 3: that now. And what happens now when the rents get frozen,
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  Speaker 3: the net operating income becomes lower, the sales price gets lower.
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  Speaker 3: They people can't make the repair, so they return it
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  Speaker 3: to the bank, and then the regional banks will you
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  Speaker 3: know in New York are gonna be We're gonna see
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  Speaker 3: them faster clothes. I mean, I know this sounds very glim,
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  Speaker 3: but I think it's horrific. I think it's horrific, and
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  Speaker 3: I think it's a way to squeeze landlords, Jews, Christians
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  Speaker 3: out of New York City. It's a scarce tactic and
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  Speaker 3: it's working because I mean, I can't even answer the
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  Speaker 3: calls I'm getting. It's it's I feel so bad for
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  Speaker 3: these small landlords. For two years they can't and he's
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  Speaker 3: forcing them to make their repairs. So you have a
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  Speaker 3: squadron there. You got to make a repair for them.
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  Speaker 3: You can't you can't raise their rent or you can't
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  Speaker 3: collect any rent, and there's no repeeve reprieve for these
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  Speaker 3: small landlords. And the small landlords are the fabric of
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  Speaker 3: New York City. This is what New York City is
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  Speaker 3: made of. But it was pretty brilliant because he said
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  Speaker 3: he was going to do it. He got probably two
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  Speaker 3: million votes this way and it went through. There was
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  Speaker 3: no question it wasn't being passed. And that's what I
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  Speaker 3: have to say.
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  Speaker 4: Judge Weinberg, Suzanne, you're absolutely correct. And when he created
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  Speaker 4: this entity to have hearings on bad landlords, that's to
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  Speaker 4: set up the propaganda machine to go out there and
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  Speaker 4: to get a constituency so that when they failed to
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  Speaker 4: make the repairs, because they don't have the ability to
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  Speaker 4: make the repairs, to seize the buildings and.
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  Speaker 3: Then do the city who's going to take the buildings?
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  Speaker 3: The city is going to take the buildings. They are
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  Speaker 3: the worst landlords they have nature right now?
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  Speaker 4: Is rat worst the worst landlord in the entire city?
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  Speaker 4: Why doesn't they clean up that first?
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  Speaker 3: Yeah?
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  Speaker 2: What is it?
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  Speaker 3: I mean, it's an honest way to socialism maybe communism.
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  Speaker 3: And my father was born in leningraand so I know
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  Speaker 3: about this. And you know what, John, it was brilliant
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  Speaker 3: because he said it and he did it, and that's
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  Speaker 3: how we won the election. And you know what you say,
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  Speaker 3: fight fight fight, We're going to fight.
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  Speaker 4: Fight fight, Suzan.
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  Speaker 5: I mean, this happened. I don't think this turning this back.
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  Speaker 5: I'm sure there's going to be a legal action taken
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  Speaker 5: to try to reverse it. But it's happened. What do
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  Speaker 5: we do now? I mean, we have to live with it.
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  Speaker 5: Right we have Mandami's our mayor. You know, he's not
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  Speaker 5: going anywhere.
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  Speaker 3: What we have to do now? We have digit two
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  Speaker 3: million votes. Okay, maybe three million votes, but there's still
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  Speaker 3: eight million people in the city. And those people have
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  Speaker 3: to stop being silent because all of a sudden, when
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  Speaker 3: the bonds go down, when the people that are living
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  Speaker 3: in Florida and they still own their places in New
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  Speaker 3: York and they realize they're worth fifty percent on a
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  Speaker 3: dollar because banks won't lend you in New York. You
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  Speaker 3: can't refinance, you can't take the money out. You're being
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  Speaker 3: penalized to the privilege of owning in New York. A
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  Speaker 3: pie Otter care taps the privilege of owning. It's we
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  Speaker 3: need to get the six million people that are sitting
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  Speaker 3: on their ass to do something and vote.
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  Speaker 5: Well, we saw that that's not happening because in the
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  Speaker 5: congressional race recently, three socialists one and less than ten percent.
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  Speaker 5: They won with less than ten percent of the vote
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  Speaker 5: in their district. So you know, the forty to fifty
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  Speaker 5: six year olds need to come out and vote. We
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  Speaker 5: agree with that, but what do you recommend now to
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  Speaker 5: those landlords, the small landlords that are going to be
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  Speaker 5: suffering the consequences Because we can't keep complaining about it.
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  Speaker 5: We need to do something about it.
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  Speaker 3: I totally agree with you. The only thing you can
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  Speaker 3: do is you can wake everybody up and realize this
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  Speaker 3: is like he does. He goes in, he marches, and
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  Speaker 3: he gets all these votes. We need to combat it
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  Speaker 3: with people. The only way to do it is to
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  Speaker 3: get everybody on board. There's six million other people that
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  Speaker 3: probably do not agree with this.
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  Speaker 4: You understand what he just did out of city Hall.
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  Speaker 4: He's created an entity within city Hall, a community engagement
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  Speaker 4: group paid for by taxpayer dollars to go out there
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  Speaker 4: and radicalize the community and organize the community and have
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  Speaker 4: these stage demonstrations. He's doing that too, with governmental money,
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  Speaker 4: taxpayer money.
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  Speaker 3: Well, Richard, don't you think this is exactly what happened
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  Speaker 3: in Nazi Germany? This is exactly what happened with following it,
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  Speaker 3: except what the people put their head in the sand.
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  Speaker 3: The only way people wake up is when it affects
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  Speaker 3: their own dollar. So we have to wake people up
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  Speaker 3: because it's going to because it's going to be a
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  Speaker 3: reset of the real estate prices in New York, that's
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  Speaker 3: for sure. And you're not gonna be able to take
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  Speaker 3: money out because the banks are not going to lend,
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  Speaker 3: and probably with the small regional banks will even go
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  Speaker 3: out of business.
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  Speaker 4: Remember you remember Bronx is that you don't remember, not
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  Speaker 4: old enough or anything, but Bronx is burning. What happened
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  Speaker 4: with Bronx burning? Why don't you tell the audience about that?
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  Speaker 3: So I'm too young to.
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  Speaker 4: Landlords, couldn't afford to maintain it.
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  Speaker 6: Don't make it older than she is.
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  Speaker 4: That I apologize, so as a one hundred year old
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  Speaker 4: man in this room.
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  Speaker 6: So this is George Venezuela's George. I'm going to give
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  Speaker 6: it the other side. Why he got some of these votes.
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  Speaker 6: You know, I have two kids that live in a city.
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  Speaker 6: One is looking at the apartment. Now when you go
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  Speaker 6: look for an apartment for these kids, now, who'll make
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  Speaker 6: it eighty thousand dollars a year? You know, out of college,
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  Speaker 6: you have twenty to thirty people looking at one apartment.
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  Speaker 6: Say apartment's going for forty five hundred, That apartment will
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  Speaker 6: end up going for fifty five hundred. And that is
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  Speaker 6: totally out of control.
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  Speaker 2: It really is.
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  Speaker 3: I'll tell you what. I'm glad you brought that up,
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  Speaker 3: because this is what's going to happen if you have
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  Speaker 3: a million people that their rents are frozen. They're certainly
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  Speaker 3: not moving, which made you take one million apartments off
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  Speaker 3: the market. What happens to the market rate? Free apartments?
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  Speaker 3: Those go up because there's less supply, so let's supply
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  Speaker 3: the higher the rent. So now the rents are going
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  Speaker 3: to go higher.
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  Speaker 6: Yeah, yeah, you know, ho was this happening? I looked
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  Speaker 6: at three apartments yesterday near the office here. All three
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  Speaker 6: couldn't sell their condos. So now they're renting them. And
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  Speaker 6: now there's bidding wars on a rent. So the people
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  Speaker 6: are afraid to buy now in New York City because this guy.
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  Speaker 6: So there's a lot of fear there. Why would I buy.
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  Speaker 2: As an investor? Why should I build more buildings? Why
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  Speaker 2: should I build an apartment bush in the New.
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  Speaker 4: York especially where you can do it in Florida?
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  Speaker 2: I mean I do in Florida where it's a free market.
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  Speaker 7: Yeah, and we don't teach our kids to applying to
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  Speaker 7: mand Suzann Miller. This is Jake Novack. Listen, but your
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  Speaker 7: other catchphrases and is never bet against New York. So
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  Speaker 7: let's look about this long term. Is this a buying opportunity?
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  Speaker 7: Now people believe this is not good and maybe this
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  Speaker 7: is someone who has the finances and the patience.
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  Speaker 3: Here's a buying opportunity because if you are looking for
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  Speaker 3: net operating income and John, you just said you wouldn't
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  Speaker 3: build in New York, but if you build fair market
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  Speaker 3: price apartments, those prices are going to go up because
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  Speaker 3: people will need a place to live in. Young kids
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  Speaker 3: are sharing. I'm finding people going into one bedrooms and
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  Speaker 3: putting walls up and getting five thousand dollars and they're
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  Speaker 3: all sharing. They want to be in New York. The
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  Speaker 3: free market apartments are going to.
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  Speaker 6: Go higher, all right, and walk around New York these days.
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  Speaker 6: Maybe I'm getting older, it's young, listen, it's getting younger.
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  Speaker 5: I just hope that these landlords that are small are
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  Speaker 5: going to survive and those that have a lot of money,
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  Speaker 5: those that have a lot of money will survive because
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  Speaker 5: they can write off the losses. Right, So listen, I
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  Speaker 5: think that this is an opportunity for people that want
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  Speaker 5: to invest in New York, and it's a sad day
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  Speaker 5: for small real estate.
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  Speaker 2: Don't know what happens is there might be a deflation
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  Speaker 2: in prices because if a building is worth ten million dollars,
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  Speaker 2: well maybe it's not worth ten million dollars because you
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  Speaker 2: have to deal with the politicians. So maybe it's it's
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  Speaker 2: worth eight million.
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  Speaker 3: So John, it all comes down to the net operating income.
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  Speaker 3: So if I told you a building is one million dollars,
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  Speaker 3: then you have to freeze the rent and your expenses
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  Speaker 3: are more than the value. You're not buying it. You
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  Speaker 3: have to reset the price depending upon what your expenses are.
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  Speaker 3: And now he's mandating that you fix these buildings or
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  Speaker 3: he'll seize them. He's mandating I know one landlord. Actually
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  Speaker 3: he's a friend of mine. He's getting his own buildings
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  Speaker 3: in the Bronx. They're taking his building, actually taking his building.
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  Speaker 7: So the miller last question, how does this potentially affect positively?
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  Speaker 7: Forget about Florida for a second. What about because we're
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  Speaker 7: talking about these young people, George Venezela, what about young
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  Speaker 7: people now looking at these neighborhoods in Westchester County, Nassau County,
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  Speaker 7: maybe in some cases Suffolk County, and some parts of
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  Speaker 7: New Jersey that are on a train line that they
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  Speaker 7: can get to the city. But listen, there's some parts
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  Speaker 7: of Manhattan that take more than thirty minutes to get
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  Speaker 7: from one part to the other. So if you're will
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  Speaker 7: this effect, I mean, will this positively affect the rental
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  Speaker 7: real estates and the condos in Westchester, Nassau, Suffolk County
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  Speaker 7: and some of these and like Bergen County.
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  Speaker 3: Well, I could just tell you that I was looking
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  Speaker 3: in Greenwich just because I was, you know, looking at
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  Speaker 3: Plan B and the prices are up by one hundred percent.
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  Speaker 3: It's insane. What's happening outside of New York. So yes,
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  Speaker 3: I think it's going to As long as there's a
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  Speaker 3: direct train line twenty minutes thirty minutes Roslin, Connecticut, those
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  Speaker 3: places would do very well. And against New York.
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  Speaker 6: Jersey City in the hobok in the same nice is Manhattan.
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  Speaker 7: No, yeah, so it depends on where you find it.
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  Speaker 7: Fernanda Matteo, you just you just ruined his future plans.
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  Speaker 7: He was thinking about.
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  Speaker 5: No, no, no, no, no, I can I can afford it, Suzanne.
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  Speaker 5: If you find a good deal for me in Greenwich,
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  Speaker 5: let me know, take a break.
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  Speaker 3: I advice to your listeners, do you want to buy
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  Speaker 3: in New York, Just make a low offer and you'll
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  Speaker 3: get what you want.
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  Speaker 5: I'm talking about Greenwich.
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  Speaker 3: Zan.
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  Speaker 2: We love you, Thank you so much. For coming on
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  Speaker 2: and keep keep keep fighting for New York.
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  Speaker 8: Thank you, John, Thanks for listening to Sit and Friends
• 11:37
  Speaker 8: in the Morning. You can hear Sit and Friends in
• 11:40
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• 11:44
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• 12:00
  Speaker 8: see you next time for a new episode so you
• 12:03
  Speaker 8: never have to wonder
• 12:04
  Speaker 2: What the heck is going on here.