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jojenns t1_j8okbx4 wrote

New Luxury housing is financed by banks. Banks wont give financing if units are rent controlled because the numbers will not work. Thats why even the affordables can be an issue and why Wu is proposing waiving that requirement for the first 15 years

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SuckMyAssmar t1_j8olggt wrote

Can you explain the waiving a bit more?

Edit: downvoted for trying to get more information. This sub is, and has been, a joke.

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jojenns t1_j8ooohy wrote

dwellings would not face a cap on rent increases if their permanent occupancy certificates are less than 15 years old and they were built from the ground up, added to an existing building or converted from another use to residential.

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