Zohran Mamdani's housing plan calls for the city to engage lenders to trigger foreclosures on landlords. Buildings would go distressed, forcing banks to absorb the loans before handing properties off mortgage-free to chosen holders.
Real estate analyst Ramin Ekhtiar with 20 years experience says this creates a money printer controlled by the city with a loyalty program attached. New York is the test case and California is next.
Reminds me of the scene in Dr Zhivago when govt moved strangers were into Zhivago's house even though there was not even enough of wood to keep everyone warm.
So banks who have a fiduciary responsibility are going to just walk away from the money? This kind of crime is easy to uncover. In the end, all someone gets is a shitty building in shitty NYC.
Zohran Mamdani's housing plan calls for the city to engage lenders to trigger foreclosures on landlords. Buildings would go distressed, forcing banks to absorb the loans before handing properties off mortgage-free to chosen holders. Real estate analyst Ramin Ekhtiar with 20 years experience says this creates a money printer controlled by the city with a loyalty program attached. New York is the test case and California is next.
SOURCE: https://x.com/raminrealtalk/status/2061863542840868994 SOURCE (mirror): https://xcancel.com/raminrealtalk/status/2061863542840868994
The man-child Mandami didn't come up with that scheme on his own
Duh
All Liberal policies are theft.
Reminds me of the scene in Dr Zhivago when govt moved strangers were into Zhivago's house even though there was not even enough of wood to keep everyone warm.
So banks who have a fiduciary responsibility are going to just walk away from the money? This kind of crime is easy to uncover. In the end, all someone gets is a shitty building in shitty NYC.