Holland & Knight Partner Stuart Saft was interviewed by Commercial Observer on how and why he got started in real estate law.
Mr. Saft gave his insight on how condominium financing legislation, which he helped write, could be improved in the future.
"Over the years I’ve written a new law and submitted it and I’ve taken the old law and added provisions to it—but nobody wants to think about it. Nothing has changed in the New York legislature in the past 100 years," said Mr. Saft.
"They started enacting rental laws in the 1920s because there was a shortage of affordable housing…At some point somebody has to recognize that maybe what they’re doing doesn’t work. But nobody wants to touch it because they don’t want to antagonize the voters, and basically our housing laws say that the law of supply and demand doesn’t work in the state of New York."
READ: Stuart Saft: Why the Brooklyn Kid is Busy Breaking Up Buildings
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