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Reregulating HDFCs: A Good Idea or Bureaucratic Paternalism?
January 17, 2018
I raise questions here in hope of uncovering the motivation behind why HPD feels the need to impose its will on certain homeowners in NYC. The main question is: Why does HPD feel the need to reregulate HDFCs? Asked differently, why does HPD believe that HDFCs are incapable of governing themselves? Is reregulation a form of bureaucratic paternalism? Is the City administration implicitly stating that it knows what is best for HDFC homeowners? City officials use government-speak to espouse that one of their goals is to preserve affordable housing. But, are there other ways to achieve this laudable goal without confiscating private property (owner equity) without compensation?