The Endless Downward Spiral of America

Only in America could someone get away with this. What kind of POS crooked judge would allow a tenant to only pay $1 per month when his original rent was $2100. Something else must be missing from the story.

http://t.now.msn.com/david-lieberman-pays-dollar1-a-month-for-a-two-bedroom-apartment-in-manhattan

 

I think NYC has pretty strict rules on "rent controlled" properties.

As an aside, I was surprised to learn that two little old ladies in an apartment building I lived in were on rent control. In North Carolina! They had both become widows in middle-age and had both been living in the building for more than 25 years. When the previous owner of the building sold to the local apartment renting goliath he put a clause in the contract that these two would live there as long as they wanted for their current rate. Both paid less than $50 per month. I paid $500 per month. No hard feelings from me; I thought it was awesome! The guy in the article not so much.

 

New Jersey has similar anti-landlord/owner laws. My parents managed to live rent free from '74-'82 (putting the rent money in escrow) from shitty landlords. They got a huge settlement and were able to purchase a home from the savings. (which ended up in court with a successful claim against the builder).