Notes from the Front

Hello everybody, and welcome back to Notes from the Front —

In this episode, we speak with Howard Yaruss, an attorney, professor at NYU’s Schack Institute of Real Estate, and author of Understandable Economics.

We cover taxes, inequality, billionaires, NYC’s 57,000 vacant units, and more. I hope you find the conversation as interesting as I did!

~ Michelle

🔗 Listen: [Spotify] | [Apple Podcasts]

📺 Watch: [YouTube]

📍 Chapters:

02:35 — Economics beyond formulas

05:12 — Taxes, incentives, and why taxpayers may leave

09:17 — Tax cuts, consumer demand, and business investment

22:25 — Is capitalism working?

25:54 — Homeownership, raising children, and expectations for a better life

29:41 — Inequality, incentives, political power, and redistribution

34:29 — Billionaire wealth and the challenges of a wealth tax

40:05 — New York’s second-home tax and Florida’s homestead exemption

43:57 — 57,000 vacant rent-stabilized apartments

47:31 — Who benefits from rent regulation—and who loses out?

52:20 — Housing reform, increasing supply, and NYCHA

56:31 — Housing costs and Gen Z’s interest in socialism

59:00 — Understanding a system before trying to change it

1:01:15 — National debt, public investment, and tariffs

1:04:54 — Rent regulation, city-owned supermarkets, and public priorities

1:09:31 — Where should affordable housing be built?

📚 Howard’s Work:

* Understandable Economics: Because Understanding Our Economy Is Easier Than You Think and More Important Than You Know

* Howard Yaruss at NYU

* The City Needs 700,000 New Homes — Here’s 57,000 — Vital City

Clarification on housing figures: NYCHA’s approximately $485,000-per-apartment estimate represents capital needs over 20 years, including building systems and grounds—not simply the cost of renovating a vacant apartment. The approximately 57,000 rent-stabilized apartments registered vacant in April 2025 include ordinary turnover and newly constructed apartments awaiting tenants. That count does not establish how many units are vacant because renovation costs exceed what owners can recover through regulated rents.

Sources: NYCHA’s Physical Needs Assessment and Gothamist’s reporting on the state vacancy count.

Have questions, feedback, or ideas for future guests? Leave a comment or send an email.

For new episode alerts, subscribe below.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.notesfromthefront.com

Hello everybody —

In this episode of Notes from the Front, we speak with Judge Roy K. Altman, a federal judge and author of Israel on Trial.

Judge Altman lays out his response to six major accusations against Israel, including colonialism, apartheid, and genocide. We discuss Jewish history, the moral consequences of genocide accusations, the role of the United Nations, and the personal cost of speaking out.

I hope you find this conversation as eye-opening and informative as I did.

~ Michelle

🔗 Listen: [Spotify] | [Apple Podcasts]

📺 Watch: [YouTube]

📍 Chapters:

00:00 — Introduction

06:20 — Jewish history, archaeology, and the evidence

11:37 — Claim 1: Jews are colonizers in Israel

15:15 — Claim 2: Israel is an illegitimate state

17:19 — Claim 3: Israel prevented a Palestinian state

18:02 — Claim 4: Gaza was occupied and an “open-air prison”

22:05 — Claim 5: Israel is an apartheid state

24:12 — Claim 6: Israel is committing genocide in Gaza

27:42 — Genocide accusations and their moral consequences

36:24 — Celebrities, the United Nations, and genocide

📖 Judge Altman’s Book:

Israel on Trial

📧 Contact Michelle: [email protected]

For new episode alerts, subscribe below.

Have questions, feedback, or ideas for future guests? Leave a comment or send an email.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.notesfromthefront.com

Hello everybody —

Hope your week is off to a great start! A new episode of Notes from the Front is live, featuring Seth Glasser, a licensed associate real estate broker and leader of the New York Multifamily Group at Marcus & Millichap.

In this conversation, we talk about the hidden financial and political mechanics of New York City’s rent-stabilized housing market. We discuss why occupied apartment buildings in the Bronx are selling for as little as $50,000 per unit, and whether this represents a once-in-a-generation buying opportunity or evidence that something fundamental has broken.

Seth walks us through how the 2019 New York State tenant laws (HSTPA) transformed the industry from a future-cash-flow business to a current-cash-flow business, wiping out building equity, removing incentives for owners to reinvest, and leaving ~60,000 units vacant.

We explore the “doom loop” of deferred maintenance, housing violations, and the severe public health consequences - like mold and childhood asthma - that occur when buildings are starved of capital. We also dig into the politics behind the word “slumlord,” the coming wave of underwater mortgages hitting regional banks, and the staggering loss of “tenant equity” associated with the end of lease buyouts.

For a more detailed chapter list, see below. You can access the episode on Spotify, Apple, or YouTube.

I hope you find this conversation as fascinating as I did!

~ Michelle

🔗 Listen: [Spotify] | [Apple Podcasts]

📺 Watch: [YouTube]

📍 Chapters:

02:19 — How Seth entered the New York multifamily business

05:24 — What the public misunderstands about operating apartment buildings

09:02 — Cap rates, net operating income, and the hidden cost of repairs

11:38 — How rent stabilization shifted from future to current cash flow

16:26 — Bronx apartments selling for $50,000 - $70,000 per unit

22:12 — How the 2019 rent laws changed the business model

29:12 — Who is buying—and whether this is really a fire sale

31:03 — Case study: How an $8 million building became worth $2.4 million

35:42 — HPD violations, AEP charges, and the building “doom loop”

41:05 — How a $15 million building becomes a $5 million building

45:05 — Refinancing, underwater mortgages, and the losses facing banks

52:04 — New York’s divided rental market and today’s remaining buyers

58:43 — Is homeownership a weapon, or a human right?

1:02:03 — What is a “slumlord”?

1:03:38 — COPA, enforcement, and the future of private ownership

1:11:06 — The public health tragedy: Leaks, mold, and childhood asthma in the Bronx

1:20:55 — Three policy changes that could restore the housing stock

1:26:36 — Landlords, tenants, and the politics of oppressor versus oppressed

1:31:44 — The disappearance of tenant buyouts and “tenant equity”

1:34:42 — Is there reason to hope?

🏢 Seth’s Work:

New York City Multifamily Podcast

Seth Glasser at Marcus & Millichap

📧 Contact Michelle: [email protected]

For new episode alerts, subscribe below.

Have questions, feedback, or ideas for future guests? Leave a comment or send an email.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.notesfromthefront.com

Hello everybody, and welcome back to Notes from the Front —

In this episode, we speak with Tom Wolf, a nationally recognized recovery and drug-policy advocate who was also the very first guest on this podcast. After becoming addicted to prescription opioids following surgery, Tom lost his job, his home, and nearly his life. He spent six months homeless in San Francisco’s Tenderloin before an arrest ultimately led him to recovery. He has now been sober for more than eight years.

Since our first conversation, Tom has worked with leaders at the local, state, and federal levels to develop a new approach to homelessness and addiction. In this conversation, we discuss San Francisco’s remarkable turnaround, the failures of Housing First, the limits of harm reduction, the role of accountability and law enforcement, and the federal government’s new Treatment First framework. We also explore the costs of addiction, the possibility of self-sufficiency, and the role faith can play in recovery.

I hope you find this conversation as meaningful and fascinating as I did!

~ Michelle

🔗 Listen: [Spotify] | [Apple Podcasts]

📺 Watch: [YouTube]

📍 Chapters:

03:25 — Why San Francisco is turning around

09:43 — Drug use inside supportive housing

13:15 — San Francisco’s first sober homeless shelter

19:46 — The political divide over drug use

26:29 — Inside San Francisco’s SROs

37:44 — Is any American city getting this right?

43:05 — Where harm reduction helps—and where it fails

52:36 — What “Treatment First” actually means

58:44 — What mayors should do next

1:05:26 — The true cost of addiction and homelessness

1:15:33 — Recovery, self-sufficiency, and nihilism

1:19:56 — Faith and redemption in recovery

1:26:19 — Funding, philanthropy, and organizations to support

1:31:03 — What faith-based treatment looks like

📚 Tom’s Work & Resources:

* Tom Wolf — Recovery Advocate

* The Federal Best Practices Toolkit for Addressing Homelessness and Addiction

* Tom Wolf at Sunflower Sober

* Foundation for Drug Policy Solutions

* Tom Wolf Joins the Discovery Institute’s Fix Homelessness Initiative

🤝 Organizations Mentioned:

* Restorative Pathways

* Positive Directions Equals Changes

* The Salvation Army’s Recovery Programs

📧 Contact Michelle: [email protected]

For new episode alerts, subscribe below.

Have questions or feedback? Leave a comment.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.notesfromthefront.com

Hello everybody, and welcome back to Notes from the Front —

In this episode, we speak with Batya Ungar-Sargon, a journalist and author known for her work on the American working class, political realignment, and Jewish life. Her latest book is The Jews and the Left: A History of Antisemitism, Civil Rights, and the Unraveling of American Politics.

We begin with Batya’s Orthodox upbringing and her reflections on Shabbat, femininity, and the role faith plays in her life. From there, we explore how American Jews became so deeply aligned with the political left, what Jews and the Democratic Party gained from that alliance, and why Batya believes it is now unraveling. We also discuss class and race, Trump and working-class politics, anti-Zionism after October 7, and Batya’s own political and religious evolution.

I hope you find this conversation as meaningful and fascinating as I did!

~ Michelle

🔗 Listen: [Spotify] | [Apple Podcasts]

📺 Watch: [YouTube]

📍 Chapters:

01:31 — “L’maan Shmo”: Faith and staying grounded on-air

06:51 — Modern Orthodoxy, universal morality, and personal autonomy

13:06 — Women & femininity in Judaism

17:22 — Shabbat, and the unexpected appeal of religious separation

28:14 — The Yale study that began Batya’s break with the left

31:27 — Trump, populism, and Batya’s working-class politics

36:37 — How labor unions and FDR drew American Jews to the left

42:47 — Power, anti-Zionism, and the left after October 7

48:56 — Why Batya rejects Jewish victimhood in America

52:05 — The hidden argument connecting Batya’s three books

55:22 — Political homelessness and the future of American Judaism

59:58 — George Washington’s promise to American Jews

📚 Batya’s Work:

* The Jews and the Left: A History of Antisemitism, Civil Rights, and the Unraveling of American Politics

* Batya Ungar-Sargon at The Free Press

* Batya on NewsNation

📧 Contact Michelle: [email protected]

For new episode alerts, subscribe below.

Have questions or feedback? Leave a comment.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.notesfromthefront.com

Hello everybody & welcome back to Notes from the Front -

In this episode, we speak with David French, a New York Times columnist, Iraq War veteran, and constitutional lawyer with nearly two decades of litigation experience. He is also the author of Divided We Fall.

Our conversation focuses on how Americans with profound moral and political disagreements can continue to share a country. We discuss religious virtues, political polarization, the pro-life movement, free speech, same-sex marriage, the case for American pluralism, and more.

I hope you find this conversation as meaningful and fascinating as I did!

~ Michelle

🔗 Listen: [Spotify] | [Apple Podcasts]

📺 Watch: [YouTube]

📍 Chapters:

02:25 — Growing up with church at the center of life

09:48 — The gifts (and dangers) of religious community

13:51 — “Love God, love your neighbor” - and what about the self?

24:49 — What Christians and secular liberals misunderstand about each other

29:37 — The “big sort,” group polarization, and social-media nutpicking

35:10 — Can social media and AI help depolarize us?

41:25 — David’s political homelessness and break with the Republican Party

47:10 — What it means to be socially conservative

50:32 — The pro-life case against abortion

56:07 — IVF, discarded embryos, and snowflake adoption

58:30 — A civil libertarian’s case for pluralism

1:01:01 — Same-sex marriage and religious liberty

1:04:38 — Trump, illiberalism, and threats to free speech

1:14:48 — When campus protest becomes harassment

1:20:23 — Can a secular society sustain civic virtue?

1:26:17 — Humility as an acknowledgment of reality

📚 David’s Work:

Divided We Fall: America’s Secession Threat and How to Restore Our Nation

David French at The New York Times

Advisory Opinions Podcast

📧 Contact Michelle: [email protected]

For new episode alerts, subscribe below.

Or, leave a comment!

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.notesfromthefront.com

Welcome back to Notes from the Front -

This episode is for anyone who's ever wondered why housing costs so much.

I sat down with Judge Glock, Director of Research at the Manhattan Institute, to go through policies driving the crisis: zoning, rent control, ghost apartments, and what New York's new rent freeze is likely to do.

It's one of the clearest conversations I've had. Hope you enjoy!

~ Michelle

-------------

🔗 Links: Spotify | Apple | YouTube

📍 Chapters:

* 00:00 Introduction

* 01:00 The #1 barrier to housing: zoning

* 05:30 Why cities welcome data centers but fight housing

* 08:00 Environmental regulations and the sprawl problem

* 12:00 Rent control: what economists actually agree on

* 18:00 The difference between rent control and rent stabilization

* 24:00 The 1970s Bronx fires — what really happened

* 32:00 New York’s new mayor and the rent freeze

* 38:00 The case against public housing

* 46:00 Ghost apartments and landlord bankruptcies

* 56:00 Who gets hurt most by rent control

* 1:06:00 The case for renting over owning

* 1:10:00 Judge’s 3-point plan if he were Mayor of NYC

* 1:17:00 Housing as a national political issue

📚 Books:

* The Fires: How a Computer Formula, Big Ideas, and the Best of Intentions Burned Down New York City by Joe Flood – http://bit.ly/48wSHc7

* Public Housing That Worked by Nicholas Dagen Bloom — https://bit.ly/47FvWma

📰 Judge’s Articles:

* “Two Cheers for Zoning” — https://bit.ly/4tnEVk6

* Is There a Dumber Housing Policy Than Rent Control? — https://bit.ly/4viNoXQ

* Laws Protecting Renters Hurt Renters — https://bit.ly/4sTVJzh

* The Asian-American Landlord Movement — https://bit.ly/3On2D12

📍 Find Judge Glock: https://manhattan.institute/person/judge-glock

📧 Contact Michelle: [email protected]

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.notesfromthefront.com

Hello everybody,

I'm excited to share the latest episode of Notes from the Front, featuring Whitney Tilson, a centrist Democrat, philanthropist, and candidate for New York City mayor.

Whitney's journey is fascinating—from his early years overseas in Tanzania and Nicaragua, to co-founding Teach For America and advocating for education reform in NYC.

In our conversation, we covered critical issues facing New York City:

* The education crisis and how to solve it

* Housing affordability and the future of rent stabilization

* Public safety, policing, and crime trends

* Fighting antisemitism and political extremism

Whitney doesn't shy away from bold policy solutions or candid critiques of his political rivals. This episode is a must-listen if you care about the future of New York City.

Listen on Apple or Spotify, or watch on YouTube, and let me know your thoughts!

~ Michelle

Podcast Chapters:

00:00 – Episode Introduction01:00 – Whitney’s Childhood & Background05:00 – Family Values & Service07:00 – Founding Teach For America12:00 – KIPP Schools & Education Philanthropy15:00 – Education Politics & Teachers' Unions16:20 – Fourth Grade Reading Crisis in NYC Schools22:00 – NYC Department of Education Budget & Bureaucracy24:00 – Why Are People Leaving NYC?27:00 – Solving NYC’s Housing Crisis33:00 – Rent Stabilization & Vacant Apartments44:00 – Crime Trends & Public Safety in NYC51:00 – Combating Anti-Semitism & Zoran Mamdani Critique54:00 – Why Whitney Tilson Chose to Run for Mayor

📺 Watch here on YouTube

🎧 Listen on Spotify or Apple Podcasts

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.notesfromthefront.com

Welcome back to Notes from the Front —

In this episode, Nicholas Kristof talks with us about the critical role of journalism in exposing and addressing global crises such as genocide, human trafficking, and inequality. He reflects on the moral dilemmas journalists face, balancing the pursuit of accurate reporting with a deep desire to inspire social change. Kristof also explores the challenges of today’s polarized political landscape, emphasizing the need to tackle working-class issues and foster bipartisan solutions on pressing topics like addiction, education, and housing. Amid the shifting dynamics of media and the rise of social platforms, he shares thoughtful insights on journalism’s evolving role in an ever-changing world.

I hope you find this episode inspiring!

~ Michelle

📺 To watch on YouTube, click here.

Chapters:

0:00 Introduction of Nicholas Kristof and Vision for Notes from the Front podcast

3:13 Reporting on global issues and the impact of personal experiences

5:41 The power of journalism and storytelling in coverage of Tiananmen Square

7:58 Acts of courage and the evolution of Kristof's mission

10:21 Selecting impactful topics and tackling taboo subjects

14:10 Challenging audiences and navigating conflicts in journalism

17:07 Safety concerns and working with local teams

19:12 The power of personal stories and confronting evil

24:31 Balancing activism and journalistic ethics

27:27 Critiques of activism in modern journalism

31:06 The importance of diverse viewpoints and social media's role

37:10 Social media's impact on news consumption and accountability

41:18 Misinformation and the realignment of political affiliations

45:21 Democratic party's challenges and conflicting views on immigration

55:29 Addressing the working-class crisis and political failures

58:43 The impact of methamphetamine and synthetic drugs

1:03:13 Challenges with drug treatment and Kristof's future focus areas

1:06:24 Gender disparities and maintaining optimism in crises

1:10:18 Inspirational resilience story and conclusion

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.notesfromthefront.com

Hi everybody & welcome (back) to Notes from the Front —

In this episode, we talk with Dr. Anthony DiGiorgio, a neurosurgeon at Zuckerberg San Francisco General - the leading trauma center & public hospital in the city of San Francisco.

This discussion focuses on the challenges of treating brain & spinal injuries in patients who are marginally housed, homeless, and/or struggling with addiction to substances like methamphetamine and fentanyl. We discuss the legal and ethical aspects of neurosurgery and trauma care, including patient capacity and conservatorship. Dr. DiGiorgio also offers insights into how policy and culture shape healthcare, drawing critical distinctions between the healthcare systems in Louisiana and California.

I found this conversation fascinating, and I hope you will too.

~ Michelle

Chapters

02:17 A Day in the Life of a Neurosurgeon

04:01 Elective and Emergency Injuries

05:46 The Reality of Uninsured and Homeless Patients

07:36 The Cost and Challenges of Long-Term Care

09:51 The Impact of Policy and Culture on Healthcare

17:47 The Struggle with Patient Capacity and Conservatorship

23:24 The Role of Drugs in Traumatic Brain Injuries

29:15 The Legal and Ethical Aspects of Patient Care

33:56 Comparing Healthcare Systems in Different States

38:13 Understanding the California MCO Structure

38:48 The Impact of MCOs on Long-Term Care

40:29 Comparing MCO Systems: California vs. Louisiana

41:02 The Complexity of MCO Systems

41:22 The Role of Politics in Healthcare

41:37 The Challenges of MCOs and ER Care

42:26 Advocating for Change in the Healthcare System

42:48 The Importance of Patient Autonomy and Choice

45:28 Addressing Substance Abuse and Mental Health

47:22 The Ethics of Capacity and Decision Making

47:47 The Impact of Drug Addiction on Health

49:31 The Struggle with Patient Autonomy and Treatment

52:04 The Consequences of Uncontrolled Drug Use

57:11 The Ethics of Using the Term 'Zombies'

01:06:56 The Role of Work Requirements in Healthcare

01:17:16 Final Thoughts and Recommendations

Further Study & Resources

Books:

* Poverty & The Myth of Healthcare Reform by Richard (Buz) Cooper 

* The Least of Us: True Tales of America and Hope in the Time of Fentanyl and Meth by Sam Quinones

Charities & Causes: 

* Saul’s Light

More about Dr. DiGiorgio: 

* UCSF Profile

P.S. If you have read this far… A special request. I am seeking all the feedback I can get! Please feel free to leave any thoughts or ideas by clicking the button below. Alternatively, you can email me directly. Thank you in advance! ~ MT

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.notesfromthefront.com