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> Interestingly some evidence shows that those living in rent-controlled flats in New York also tend to have higher median incomes than those who rent market-ra
by tsotha 11y ago
> Interestingly some evidence shows that those living in rent-controlled flats in New York also tend to have higher median incomes than those who rent market-rate apartments.
This isn't surprising at all. Whenever you have a constrained resource with a price cap you still pay more. It's just that you don't pay more in money (at least, not directly). It becomes a matter of who you know, and people with money are better able to get to know people.
- bradleyjg 11y agoYou have to be careful when looking at NYC. We have a small program called rent control and a much much larger program called rent stabilization (plus some other odds and ends). So a stat specifically about rent control units is just talking about a few tens of thousand of mostly very old people.
- dllthomas 11y agoAlso, it may be that those with higher incomes have a more stable situation, and are less likely to need to move, and thus are more likely to benefit from rent control.