3 ms·
> rent-controlled units make up something like 2% of all units True, but that is actually a great deal of lost income for the landlords in those cases. Anecdot
by eric_h 11y ago
> rent-controlled units make up something like 2% of all units
True, but that is actually a great deal of lost income for the landlords in those cases. Anecdotally, of the number of people I've heard of living in rent controlled apartments, I've never heard of rent over $500, including 2 and 3 bedroom apartments in primo neighborhoods. Numbers like that are just _absurd_ given what I'm paying for my 1 bedroom in an "up and coming" neighborhood in queens
- pavel_lishin 11y agoMy question is, then, how would a paltry 2% increase in available units - assuming landlords instantly kick those folks out - cause the rental market to suddenly get that much cheaper?
- Zach_the_Lizard 11y agoEliminating rent control wouldn't do much to lower rents given the relatively small numbers of units. They should definitely end it going forward, though. Getting rid of rent stabilization, which is roughly half of all rental units in NYC IIRC, would have a huge effect, both positive and negative. My prediction is that after a few years of adjustment following its end, the average paid rent would be about the same but the average advertised rent would be much lower. All renters would equally feel the misery of rising rents, so I'd expect the political landscape would be very different with regards to feelings towards building more housing.