fromThe New Yorker
2 days agoLetters from Our Readers
By 1970, much of the housing stock was fifty years old and in need of substantial capital investments: new roofs, elevators, plumbing, and electrical wiring. Many small landlords simply couldn't afford these improvements. They did not abandon their buildings because they lost value-they abandoned them because they were losing money. Some of these landlords had put their life savings into their buildings.
Real estate