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Bluehorsesho3 OP t1_ismcv4y wrote

Reply to comment by slobertgood in What would happen if there was just a city-wide rent strike? Like eventually it would end up in court obviously but if everyone collectively stopped paying rent, the renters would get bargaining leverage back before all the evictions came. Seems like it could be a worthwhile experiment. by Bluehorsesho3

Interesting to know that your response comes from a bias in real estate. You said so yourself landlords in NYC are completely unethical. Just how disruptive would even a 1 month city-wide rent strike be?

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slobertgood t1_ismzjwo wrote

I'd definitely be curious to know what that would entail, and while I would agree about the lack of ethics that exist, I don't believe in to be a blanket on every landlord. I know many owners who treat the tenants with the respect they deserve who don't have a large enough portfolio to be anything but devastated if people just stopped paying. Most business in the city would be in dire straits if people decided to stop paying based on a point blank assessment of the ethics of their industry.

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Bluehorsesho3 OP t1_isn0zdx wrote

It could prove how over leveraged landlords are if 1 month devastates them. That would prove to be a highlight of their own risk assets and miscalculations. If speculative prices are dictated by risk/reward then it would prove landlords are carrying much higher risk than they are revealing to their tenants and to the rental market overall.

In fact it would reveal they are dumping all the risk and speculative price conditions on to their tenants rather themselves.

It’s about time we stress test these speculative prices instead of assuming the landlords and realtors know the true value of the units they are renting. Especially if the renters are carrying most of the speculative risk.

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