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Re: One common misconception about Rent Control

Posted by Jon on May 05, 1997 at 10:12:36:

In Reply to: Re: One common misconception about Rent Control posted by Sir Loving on May 05, 1997 at 01:46:18:

Sir Loving,
I am sorry I embarrassed you in regards to your disclosure of details that should be considered privileged in such a public way. I was just, well, horrified. After the posting I was somewhat remorseful for coming off so strong. But, now, considering no acknowledgment that you also see that the error, other than a comment that sounds more like you are saying, "big deal, I don't care", I would like to continue. Sir Loving, I believe ethics in the business world, and in all arenas in life something to be taken seriously. It reflects your integrity. If you are so loose with others’ personal information, again, not the expense and revenue details that had meaning to this discussion, but stating the name of the owner and a willingness to show me the bank statements (that really didn't apply here) crossed the line. I guess I am the type if guy who gives the store clerk back the extra dollar I mistakenly received. Because it is the right thing to do. I take a certain pride in doing the right thing. People can count on me to deal with them honestly and with integrity. MY children are taught the same thing. And when I am wrong, I admit it. To do otherwise would be at the expense of my credibility, which I value highly.
By the way, debt service is a real expense beyond that of initial construction and acquisition cost. I guess this discussion has no where to go.
Think about what I said here, Sir Loving. You seem to have a real chip on your shoulder.

: The normal 30 year mortgage on buildings built prior to 1947 was paid in full at least 20 years ago. That means that it is not even a consideration today. In spite of this, tenants are still required to pay their rent anyway. If the rents go through the roof then you can have my job cause the salary I get won't be enough to pay any new & unwarranted rent hikes. The coop has 33 units and the financials show an ever increasing bottom line...even with 9 Rent Controlled uints in the building. The building I live in has 10 apts & 4 stores and 2 apts are still Rent Controlled. In my building the apts have three bedrooms. I have a son & a daughter. I guess the State has a place for them to go when I can no longer afford to raise my family. I think it will cost the State more that they expect though cause they won't have my paycheck feeding their their offices anymore.

: Sir

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