WHY RICH LANDLORDS ARE GETTING RICHER UNDER MAMDANI

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All right, welcome back to the Carole Jackson Show again.

This is your daily dose of freedom.

Guys, I want to talk about Mayor Mom Donnie and why rich landlords are actually getting richer under Mam Danni.

And the small, mom, pop landlords are losing their shirts and they're going to continue to lose their shirts if Mom Donnie's policies.

Come to fruition. So I know there's a lot of news out there today.

But one of the, one of the stories that I feel is so important.

This was a Wall Street Journal column that hit today.

Wall Street Journal, Mam Danni's rental plan, risk pushing small landlords toward extinction.

And there's an extinction or a distinction, excuse me, that I'm going to be making during this particular podcast.

And it's so very important.

Guys, Mam Danni is a communist.

All right, this is very important that you understand this.

This guy eventually believes in taking over the means of production.

All right, he wants to take away your property rights.

He wants to take away your business.

He wants the government to, wants the government to run these things.

And how do you take a, how do you eat an elephant one bite at a time?

You have to understand that this is what Mam Danni is doing.

I was speaking earlier to RC Williams of WatchmanAction.org, one of the things that he said.

Some of you that were still watching during the break might remember one of the things that we have to watch out for

are obviously the sleeper sales and stuff like that that perhaps Trump is awakening inside of the United States.

I argue that's a good thing.

We want to know who these commies are.

We want to know who these Islamists are so that we can take them on God forbid.

You get a, you know, another Joe Biden in office, another Barack Obama,

or some of these people that are going to acquiesce or appease the radical left or Islamist.

And so, sadly, the Biden administration has put us in a bad situation both financially and also as far as national security is concerned

with the wide open borders and stuff like that and also with foreign policy.

So, President Trump has to deal with foreign policy.

He has to deal with the consequences even of that foreign policy when it comes to domestic national security and also domestic financial security.

Now, having said this, Mammdani is a threat.

Mammdani is going to make you poor.

Remember, Democrats are only successful when you are unsuccessful ultimately.

That is why their policies aren't created to work.

All right, this is why all they can do is try to get you mad about Trump.

While they continue, they get you mad, they get you angry, they get you upset with Republicans, they get you upset with Trump.

And their agenda is to slowly take away more and more and more and more and more of your power.

They make you angry, they pretend like they're championing your causes.

But what they do is they take power from you.

Remember, we the people, we have power over them.

But if you give that power to them, eventually they'll take control.

And that's exactly what Mammdani is doing.

Oh, you guys are tired of this.

Oh, you guys are victims.

Oh, you guys are oppressed.

Let me champion those causes for you.

Let me fight for you.

But in exchange, you're going to have to give me some power.

It's different from when a person comes into power and says, listen, I am going to relinquish some power.

I'm going to give you power back.

For example, a small and good example are tax cuts.

Republicans typically are for tax cuts.

Not all because many of them are weak and factless.

But generally speaking, Republicans are for tax cuts.

What do tax cuts do?

What are taxes?

Taxes take money from you.

Take money from the tax payer.

So if you have tax cuts, what do you get to do?

You get to keep more of your money.

Not government.

But then you have people like Mammdani that will demonize the rich and say, all right, we're going to take more from the rich.

We're going to tax the rich, tax the rich and poor people and middle class people are saying, yeah, tax the rich, tax the rich, tax the rich.

You mean tax the job creators?

So the job creators can leave.

So that there's fewer people working for those job creators.

So that there's no longer a middle class.

So that there's more, so that there's more poor people.

So remember, when you hear these politicians talking about tax in the rich, just understand that that means jobs are going to go by and by.

Whenever the government says they're going to take away your money, money that you burn and confiscate your money, that is not a good thing.

That is not something that would be celebrated.

That is totally un-American.

Now having said that, I'm going to explain why Mammdani is going to make landlords in New York City, particularly the middle class landlords, poor.

All right. So again, the story was from Wall Street Journal.

Let me give you the summary.

New York City's small family owned rent stabilized properties, fear extinction amid new laws, rising costs, and mayor Zoran Mammdani's housing proposals.

I'm going to play a video for you.

This is cut number seven.

If we can get it ready here, gave cut number seven.

New York City voters are panicking after learning that mayor Mammdani scammed them again.

He wants to raise the estate tax to 50%.

At seven hundred and fifty, seven hundred and fifty thousand, not seven million.

So this is kind of a different issue, but it's still a tax issue.

So let's go to that cut number seven.

Paul Favore gay.

Thanks that nationally we should raise the estate tax, both to bring a more revenue and for equity reasons.

I think we should be very, very careful about doing it just in New York.

Because people are mobile and they're potentially more mobile later in life when their kids are grown and they may be retired.

And it would really undermine the whole purpose of a move like that.

If people left, we'd actually get less revenue.

That would be bad for everybody.

The business community has been blasting the proposal.

Bill Akman posted on X quote, Mammdani's strategy appears to make New York City an unattractive place to live and to die.

Mammdani is facing a $5.4 billion dollar city budget deficit for the fiscal year that begins July 1st.

This is one of the ways he is looking to close that gap.

Harris?

Well, that line from Bill Akman.

I mean, you don't want to live here and you don't want to die here.

That is some strong stuff.

Madison, thank you.

Any moment now.

We can cut it there.

We can cut it there.

But this is, this is, we can cut it there, Gabe.

Alright, so we can, this is, I mean, this is not good for, this is not good for New York City.

They're going to be losing money.

They're not going to be making more money because rich people are going to continue to leave.

And now the people that are going to be left behind are going to be the middle class and the poor that have no place to go.

This guy is making New York City a hell hole and he's doing it pretty quickly.

I hope that he loses in, in four years, but it's New York City after also, so who knows?

So here's the, here's a summary from the Wall Street Journal.

So again, New York City's small family owned rent stabilized properties.

If you're extinction, amid new laws, rising costs and man, Danny's housing proposal.

So here's an example.

And I'm probably going to butcher this name.

So forgive me.

Natalia, Natalia, banana's family has owned rent stabilized properties in New York City since the 80s.

When her Italian immigrant father purchased the first a 40 unit Brooklyn building that was her childhood home.

Two buildings having the two buildings haven't made money in years because of recent laws limiting rent increases.

So the laws that limit rent increases.

So you've got politicians that are telling property owners, wait a minute.

I know you want to fix up your apartment.

I know you want to make a little money.

You can't do that.

You can't, you can't raise the rent.

Okay, well, I can't raise the rent.

If I can't raise the rent, I can't afford to fix up the properties for tenants and all this kind of stuff.

Understand what this leads to.

So you've got, you've got recent laws limiting rent increases paired with higher mortgage rates as well.

And other rising costs.

So you have this family that were home hanging on to their hopes to hold on to this unit.

But they simply can't.

Man, Danny's housing proposals to freeze rents and increased property taxes are making matters worse for all of the people of New York City or the landlord's or New York City.

So again, his housing proposals, freeze rents, increased property taxes.

He wants to increase property taxes by nine and a half percent.

Guys, the very rich people are mobile, but the people that are barely making it.

These people that perhaps own some units, but they haven't been able, they're rents, you know, they've had a rent freeze for God knows how long their rent stabilized apartments.

Now they're getting a tax increase so they've got to pay more to the city, but they can't raise their rents.

How are they going to cover that?

This people are going to be called slum lords or, you know, the slum landlords, but they can't help but not to fix up their buildings.

It's absolutely insane.

Banana decided she has to sell.

These people have owned these property since the 80s. They have to sell.

Though these proposals haven't been passed, the bananas realize that this is a threat.

Here's a quote from the bananas reviewing all the numbers from last year.

It's not really getting getting better.

In New York City's mind pop landlords, once a fixture according to the Wall Street Journal, the city's housing landscape are now staring at extinction.

Owning a New York City building with even a half dozen units was for decades a reliable source of business or income for these families, not anymore.

The sometimes the middle class families that operated rent stabilized apartments could count on steady income that would rise with inflation's apartments and well located neighborhoods rarely had trouble finding tenants.

But now many of these properties are barely above water or now they're even underwater.

And the crazy thing is the banks won't even foreclose on the properties.

Why won't the banks foreclose on the properties?

Because they don't want distressed properties on their books.

And sadly with Zora and Mamdanny in charge, this is going to happen more and more.

People are going to be losing their shirts.

It's going to be harder for people to be able to sell these units unless rich people just come in and take them over.

But then I don't even see the incentive for rich people to come in and take them over if they're not going to be allowed to raise the rent.

I mean this absolutely makes no sense whatsoever.

So this guy came in with this writing on a white horse talking about how he was coming in to help the poor, lower rents and all this kind of stuff.

His policies, his proposals are having the exact opposite effect.

More on this one we get back. This is the Carl Jackson show.

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Titians that constantly reaffirm Israel's right to exist because people like me are constantly attacked by politicians for standing up for Palestine and you are constantly defending the right for Israel to exist.

My family is in Palestine right now constantly under attack and I'm hearing huge days free Palestine but also Israel has the right to exist.

Don't be hypocritical. Don't be hypocritical and say free Palestine when you're also defending the right for Israel to exist.

It does not have the right to exist. It does not have the right to exist. It's not your land to say it has the right to exist.

Wow. It's not your land to decide whether Israel has the right to exist.

Says the man that doesn't understand that Palestine doesn't exist.

This is who we're dealing with. And unfortunately that is Zoran Mandani's base.

His base for all of you that voted for him because you wanted a piece of the American dream.

That's his base. Communists. Radicals. That's his base.

Let me get back to the story real quick.

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So the landlords have stopped keeping up their units in New York City now.

Uninterested in spending on apartments this according to the Wall Street Journal that will take years for them to make a return.

And now Mandani is promising a crackdown on top of that on landlords who aren't properly maintaining their buildings.

So they can't afford to maintain their buildings as a result of somebody as a result of somebody as a result of a de Blasio in 2019.

Here's where it started, I believe. Small landlords, financial plight didn't start with Mandani.

A 2019 law that aimed to make housing more affordable in the city restricted, rent stabilized landlords ability to raise their rents.

Then interest rates started to soar in 2022.

Obviously that was during the lockdown, the COVID lockdown era.

So Mandani, he doesn't want slum lords, but his policies are going to create more slum lords by necessity.

Now here's a quote from Mandani, we've already stepped up to protect tenants who are living in buildings that landlords have neglected.

He said that at a third rental rip off hearing, he said his administration would release a housing plan based on tenant complaints in early May.

But if the tenants don't understand that the problem are the politicians, what are we doing here?

What are we doing here?

I mean, this is crazy. It's using the useful idiots to keep your power.

That's what Mandani is doing.

National multi-family operators listen to this and real estate investment trust can better endure this turbulent period because they have greater financial flexibility and generally have other investments to offset their losses.

So they can wait Mandani out and maybe that's the answer. Maybe they'll buy the units from the small mom pop landlords and they'll just be able to wait Mandani out because they can afford it.

Their national chains are their major real estate investors.

So essentially this guy that said he was for the little guy, Mandani is all he's doing is emboldening the big guy.

And I'm not against anybody being rich. But if you're running for office saying you're going to help the poor.

Meanwhile, all you're doing is killing the American dream for the poor in the middle class.

Come on man.

I hope that you guys don't continue to fall for this guy, Mandani.

I consider a politician like him absolutely evil in my opinion.

And the fact that that guy that walked up to him is his base. Those are his base voters.

It's absolutely insane to me.

These firms are the main beneficiaries of median rents according to the Wall Street Journal for Manhattan apartments that are hitting a record high of 5,000 a month.

So the medium rental rental rate in New York City, $5,000 a month.

And guys, I guarantee you that's probably some one bedroom, one bath or what are the what are those apartments called that don't have a don't have a bedroom game.

You good Lord, I forget what they're called. But anyway, basically like an efficiency, you know, basically a flat, you get a little toilet bathroom in there.

And then you're a studio, a studio type apartment. That's what I'm thinking of.

So Mandani is at the rent freezes crucial to the survival of lower income New Yorkers.

So it's crucial for a lower income income New Yorker. So the tenants get to stay.

But they have to stay in facilities that are going to go to crap basically because the owners are not don't have the money to fix them up.

That property tax increase would be a last resort to balance the city budget.

If he can't convince the governor of a tax hike on the wealthy.

I mean, that's insane. The wealthy are simply going to leave. That's what the left never seems to figure out they wealthy can pick up and leave.

A city house spokesman said the mayor's coming housing plan would include efforts to lower insurance costs and reform property tax the property tax system to help struggling rent stabilize properties.

So remember reforming the property tax system is taxing the rich. And they said that his housing plan would include efforts to lower insurance costs efforts to lower insurance cost.

I doubt that's going to happen because I've got a sneaky suspicion that these people are probably donors to the Democrat party.

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A guy by the name of Eric Bonam said, I'm not a gigantic reat that can just go whether whether the storm are EIT.

He just sold 30 unit, 30 unit billing, enrichment, Hill neighborhood of Queens that has been in his family since 1988. He can no longer just can no longer afford the unit.

This is going to be happening more and more. So he's he sold his unit and now he and his I believe his mother.

They sent spent months sifting through mementos in this building.

But the money that they were able to profit from this this that real estate in New York, they're going to they're going to invest in a small property in Miami.

So this is insane. A small landlords financial plight again, didn't start with Mamdanny. It started with DeBosio and other communists and things are only going to get worse.

The Wall Street Journal reports that proved deadly for the rent stabilized market.

Landlords were suddenly behind on piles of much more expensive debt, property values plummeted.

Wenders posted record losses and froze up from up from 2019 to 2025.

The volume of lending to the city's rent stabilized properties dropped 59% and it's not going to get any better with Mamdanny.

Some small landlords are holding on a guy by the name of Howard Port said he was he has no choice but to keep the rent stabilized Brooklyn building that his family has owned for three generations.

The 65 year old currently owes 20 he owes 24 million dollars on the loan. His family is on the building for three generations, although he could likely sell for around 30 million the associated capital gains tax from the sale would exceed his profit and bankrupt him.

Did you hear that the capital gains the capital the capital gains tax from the sale would exceed his profit and bankrupt him.

That is insane.

Says I can't sell, I will be destroyed.

So you live in New York City, you get commies in office, you get property taxes, capital gains taxes.

This man co-walk away with $6 million. You know what you could do with $6 million in Florida.

I mean he can't get it in New York. I mean they'll punish him.

Whether they have don't they have a death tax they have he can't he can't even get the money in New York.

He wouldn't have to pay more capital gains tax. So let's say this building were in Florida.

He sold it. He you know he bought it for 24. He owed 24 million on it. He could sell it for 30 million walk away $6 million in your pocket.

You know what you can buy in the state of Florida for $6 million.

Let alone you would never have to you know you would never have to work again.

Invest your money wisely whatever live off of that live off of the interest.

But I'm taught I'm I'm I mean you could buy a gorgeous home here or a half million dollars.

It's insane. Poor it doesn't have a 401k his retirement fund was his building.

Which he said used to be worth $60 million.

Wow. But he set the half.

He set half the building's value was wiped away after the passage of the 2009 rent law.

See this is this is the real deal. This is the real deal.

They want these people to walk away from these buildings.

I think the government under the leadership of ma'am Danny.

They want to be the owners of this property. He's a communist after all.

You will own nothing and you will be happy.

So they passed these laws these rent stabilized laws these rent control laws under de Blasio in 2019.

And automatically his building gold plummets from a net value.

A net worth the $60 million all the way to 30 million.

And you're like I don't feel sorry for him 30 million again.

He owes 24 million dollars on this building.

Other family owners are selling to corporations that can better absorb cost shocks.

So the big guys are winning by 2014 corporations.

We're buying almost four times as many properties from individuals as the other way around.

According to an analysis by the housing research nonprofit just fixed that represents a start change from the 2000s.

When property sales from corporate owners to individuals were roughly equal to those from individuals to corporations.

Guys, you will own nothing and be happy.

This is communism at play inside of New York City.

I'm afraid that man.

This is only going to get worse.

Today corporate landlords own 90.2% of New York City's multi-family housing stock.

And the private individuals only own 9.8%.

It was just 50, 50, 20 years ago.

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