{"id":62268,"date":"2025-12-31T10:00:22","date_gmt":"2025-12-31T15:00:22","guid":{"rendered":"https:\/\/www.rightwinggranny.com\/?p=62268"},"modified":"2026-01-02T13:49:00","modified_gmt":"2026-01-02T18:49:00","slug":"the-value-of-private-property-rights","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=62268","title":{"rendered":"The Value Of Private Property Rights"},"content":{"rendered":"

In 2010, I wrote an article<\/a> about the relationship between private property rights and poverty. The source of the article was a post by John Stossel at Townhall. The conclusion of the article was that enforcing property rights and the rule of law breeds prosperity. Unfortunately, New York City is on the verge of forgetting that principle.<\/p>\n

On Monday, The Post Millennial<\/a> reported:<\/p>\n

The New York City Council <\/a>has passed what has been called the Community Opportunity to Purchase Act (COPA) that will force private building owners to offer up their property to nonprofits and government entities before they make any private sale, effectively causing massive delays in property sales and other regulatory hurdles in the Big Apple\u2019s housing industry.<\/strong><\/p>\n

In the scenario that it\u00a0is passed,\u00a0NYC<\/a> will have the largest COPA program in the country. The act forces landlords to offer their property to the city as well as nonprofits before the building can be sold on the public market. The lawmaker who sponsored the law, Council Member Sandy Nurse, claims that it will be a win for New Yorkers.<\/strong><\/p>\n

\u201cCorporate interests and big real estate tried their hardest to block the Community Opportunity to Purchase Act with a misinformation and fear-mongering campaign, and they failed,\u201d Nurse said about the law\u2019s passage, per Pix 11<\/a>. \u201cToday marks the beginning of a new social housing era in New York City\u2026 COPA levels the playing field and makes it possible to preserve and create thousands of permanently affordable homes across our city.\u201d<\/strong><\/p>\n

The act dictates that landlords must first tip off the government entities and nonprofits that qualify, and \u201cmay not take any action that will result in the sale of such covered property to a person other than\u201d those entities. Then the owner must sit on that property for 25 days as it is up for sale to the nonprofits, which can submit a statement of interest.<\/strong><\/p>\n

According to JD Supra<\/a>:<\/p>\n

COPA applies to to Class A multiple dwellings with four or more dwelling units, subject to several important limitations and timing thresholds. Owner-occupied properties for residential purposes with five or fewer units are expressly excluded. (Let’s see how long that provision is honored.)<\/strong><\/p>\n

Beginning one year after the legislation\u2019s anticipated 2027 effective date, COPA\u2019s scope expands. Properties may qualify as a Covered Property based on hazardous or immediately hazardous housing violations, expiring affordability restrictions, or other criteria established by HPD through future rulemaking.<\/strong><\/p>\n

The law is billed as something that is going to create affordable housing. Actually, it will simply create chaos in the New York City real estate market.<\/p>\n

This is a definite infringement on private property rights. I hope there is a lawsuit filed as soon as the Mayor signs the bill into law.<\/p>\n

UPDATE: Mayor Adam\u2019s vetoed the bill on New Year\u2019s Eve. The City Council needs a two-thirds majority to override that veto.<\/p>\n","protected":false},"excerpt":{"rendered":"

In 2010, I wrote an article about the relationship between private property rights and poverty. The source of the article was a post by John Stossel at Townhall. The conclusion of the article was that enforcing property rights and the … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[18956,18955,14321,18957,2477,13761],"class_list":["post-62268","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-community-opportunity-to-purchase-act-copa","tag-jd-supra","tag-new-york-city-council","tag-new-york-city-real-estate","tag-private-property-rights-in-america","tag-the-post-millennial"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/62268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62268"}],"version-history":[{"count":5,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/62268\/revisions"}],"predecessor-version":[{"id":62293,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/62268\/revisions\/62293"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}