The weekly link roundup is a collection of links related to Newburgh, revitalization, urban planning and anything else that might inspire change or create dialogue. Photo by Brian Wolfe
- Maloney Proposes Replacing MTA [HC]
- Newburgh to open police substation [MHN]
- Newburgh Illuminated draws 40,000 people [MHN]
- Newburgh needs the Innovation Grand Street project [THR]
- Stewart Norwegian flights going out near full in larger plane [MHN]
- Think tank looks at Stewart Airport as ‘catalyst’ for Newburgh rebirth [MHN]
- State Senate hearing in Newburgh looks at housing code enforcement problems [N12]
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So after almost five decades of rental housing regulations the ptb decide that a problem still exist and it’s the evil speculators to blame for it. Really? Why the speculation to begin with? Because making next to net 0% on cash saved running parallel with low % on cash borrowed means buying assets, i.e. housing, “stawks” etc.) to make a decent return via appreciation. This can’t happen without demand for rental units…someone’s bidding up costs, via earned income or otherwise. So ask…what entities and mechanisms enable and support speculation for decades running? Where was the, ‘er…aggressive oversight? Return % rates to the historical norm of 6% and see what ensues. Any howz…The Housing Stability and Tenant Protection Act of 2019 (passed 06/19) centralizes and authorizes the regulated, and to an extent the unregulated, rental housing sector with NYS. Imo, its directive has many similarities with that of the 1950s Shanghai Housing Administrative Bureau…essentially the socialization of housing through rent control. Had that work out? “Over the course of time however, the rent control system contributed to the deterioration of the housing stock as rental income was too low to cover the cost of repair and maintenance.” An interesting read…
https://elibrary.law.psu.edu/cgi/viewcontent.cgi?article=1209&context=psilr pg 9 of pdf
https://legislation.nysenate.gov/pdf/bills/2019/S6458 pg 6 part D
I find it ironic that as water and rental housing supplies are being centralized by the state, there is simultaneously a proposal to decentralize its mass transit. Playing to a different key again?… https://www.youtube.com/watch?v=jKoH3FM8f8Y
Thanks for the reads.